A start-up is a company initiated by an entrepreneur to develop a efficient and scalable business model. Startups refer to new businesses that have an intention to grow large beyond the entrepreneur.
Startups face high uncertainty resulting in high rates of failure, but a minority of businesses do go on to be successful and influential.
A few Start-ups turn into very profitable business. For example, Paytm.
Paytm is an e-commerce payment system an Fintech company, based out in India.
Paytm was incorporated by Vijay Shekhar Sharma in 2010 with an investment of $2 million in India. It initially operated in Prepaid mobile and DTH recharge platform, and then later on added postpaid moblie, landline bill payments and data recharges in the year 2013.
In 2013, Paytm acquired Plustxt for approximately less than $2 million. Plustxt was started by IIT graduates that allowed text messaging in any Indian Language.
By 2014, the company launched the Paytm Wallet which was added by the Indian Railways and Uber all over India. It also launched into e-commerce with various online deals and bus ticketing.
In 2015, it disclosed more use-cases like education fees, metro recharges, electricity, gas, and water bill payments in their services. It also started as the payment gateway for Indian Railways. Later in August, Paytm received a license from the Reserve Bank of India to launch as the payments bank.The Paytm Payments Bank is all together a separate entity.
Many emerging entrepreneurs can take inspiration in the Paytm model and pave the path to success.
Aditya Yadav 