The founder of Paytm, Vijay Shekhar Sharma reacted to the action taken by RBI on Paytm Payments Bank. Because of this, he had to step down from the role of part-time non-executive chairman. According to the entrepreneur, it was like a personal blow to him.
On Saturday, Vijay spoke on the 7th JITO Incubation and Innovation Fund (JIIF) Foundation Day, giving a metaphorical example of the experience he had with his company. He said that Paytm was like his daughter who met an accident. Talking about his earlier years in the business, he revealed that when he was fundraising during 2013, 2014 and 2015, their existing funds were getting exhausted. If they had gone down, no one would have batted an eye at their disappearance. But now, they hold such an identity, which matters.
The entrepreneur stated, “As a founder, my company is like my daughter…as a company, we were getting mature…it is just as if a daughter who is a school topper has met with an accident on the way to an entrance test.” He added, “That is the kind of feeling which is a little personal, emotional feeling.”
Vijay Shekhar Sharma admitted that it was a challenging time having experienced the setback, which had an emotional impact on him. However, it also served as a lesson for him on how to take on professional responsibilities. He said, “At a professional level, I would say we should have done better, there are no secrets about it.” According to him, they had responsibilities that would have been carried out “much better.”
As per reports, Vijay also discussed his ambitions, dreams and his success as well as lows. Mentioning a personal ambition, he revealed that he aims to build a $100 billion company. Furthermore, one of his other goals includes Paytm’s global recognition as an Indian firm. Speaking further, he mentioned that it is “a lot more responsibility and maturity” to list a company, which has its joys.
