In 21st century, where everyone wants everything on their fingertips, it has never been difficult for companies to create demands. We now have apps for food delivery, online cab booking, then we have eCommerce etc, it makes it really easy for the user to do anything from buying a car to getting it repaired. What if we had everything in just one app? An app that would serve as a master key to every solution and most of all save our ‘Valuable’ phone memory. To get through these problems Zipi came into being.
Founded by Varun Singh Bothiyal, Sumay Dubey, Sukrat Ray, Pranav Singhi and Siddharth Ray in October 2015, the app acts like a one stop platform for everyday needs. Instead of getting a shopping app to shop, a cab booking app to book cabs etc, one can easily install Zipi, even if the user is unable to find a service, he/she can always use the chat option to get more insights on the service. The platform is live in nine cities for now.
The app offers search and explore option, where a user can find hotel, restaurants, salons, vendors etc . Not only the user can find but also can shop and compare prices. This feature is quite useful when a user is travelling or is in a new place. On chat, he can post a query and will be answered within minutes, from a good burger query to finding a doctor nearby query. It also makes a user stay updated by displaying news, discounts, events etc to keep user up to date.
Monetisation & Traction
In a conversation with Varun, when asked about how do they monetise, he stated that they have their revenue model running through ‘MyCard’ feature, it is basically a loyalty membership program for local businesses. He also claimed that they have completed Rs. 1 crore worth of business from just 10 local outlets in Indore. Also, for users who use this feature and go on for purchasing membership offline at the store, let’s say they buy a membership program at an ‘XYZ’ restaurant, they get coupons, gifts, offers, discounts worth at least two times what they paid for. The platform charges seven percent for every membership that place gets through.
Zipi has raised Rs 1 crore from HNIs based in the US. The company is also in talks with a few angel investors based out of Gurgaon and Mumbai and is expected to raise $500,000 (Rs 3 crore) in coming weeks.
Varun stated that they’ll be using 60 percent of the raised capital in building IT infrastructure and the rest in marketing.
The platform is competing with AI (Artificial Intelligence) Powered platforms like Niki.ai, Helpchat and Wishup. Recently Wishup raised seed funding from TracxnLabs, 500 Startups and Mato Peric. It’s difficult to say if the AI formula will work or the Bigdata manually powered chat will be more successful.