Page 55 - The 20 Most Promising Co-founders in Business Industry 2019
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“ “
We are on the road to making an
enormous impact to the economic
foundation of the country. We
want millions to accompany us and
benefit from this journey
publications including The Indian education institutions with the business tycoons in India are
Express. Paytm QR code. California based constantly looking for a business
4. No one to fund: While trying to PayPal had filed a case against model, as soon as you have a fixed
set up One97, Vijay once ended Paytm in the Indian trademark business model, you are destined
up with a loan of Rs. 8 lakhs. A office for using a logo similar to its for death.
huge amount for a common man own on 18 November 2016.As of Indian Startups
back in the days, he had taken the January 2018, Paytm is valued at Speaking about the general notion
principal amount at 24% interest, $10 billion. that India does not have enough
which got him into a vicious cycle As per the company, over 7 million funds for startups, pointing out
of unpayable debt. This forced him merchants across India use this QR $100-million cheques and the $1
to take up petty jobs to make ends code to accept payments directly billion funding rounds raised by
meet, setting up LAN connections, into their bank account. The the companies here, and India
delivering guest lectures and so on. company also uses advertisements is definitely the first world for
5. Paytm — A big bet: While and paid promotional content to startups.
India’s telecom infrastructure generate revenues. Awards and recognition
was improving in 2010, Vijay’s Founder’s Take on Bulding A
investors were not confident about Startup Outstanding Startup of the Year
the idea of a mobile-first consumer Building an impactful startup needs Award at Forbes Leadership
service that would cater to the more than capital, a team, or KPIs. Awards 2016
masses. He personally put $2 Mn What one needs is ‘desire’ - and
at stake to finally launch the brand. knowing that if the journey is
The rest, as they say, is history. worth it. The biggest thing we want “
We believe in
Availability in life is impact, and the desire to providing equal
Paytm is available in 11 Indian be able to reach millions of people opportunity for all
languages and offers online use- with our products.
cases like mobile recharges, utility We suggest internet companies to
bill payments, travel, movies, and build a customer moat so that they as those whom we
events bookings as well as in-store come to their app even when the come across in our
payments at grocery stores, fruits company is not promoting.
and vegetable shops, restaurants, Business Model course of work
parking, tolls, pharmacies and
According to me, even the biggest
│September 2019 55
our people, as well “
