Startup Turkey 2017 - Samar Singla
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On Demand - Start to Scale
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Startup Turkey 2017 - Samar Singla
- 2. 1 On Demand- Start to Scale
- 3. All Rights Reserved Trends- Economies of Arbitrage Digital Platforms are connecting supply and demand bypassing infrastructure driven traditional business structures Economies of scale are being replaced by Economies of arbitrage Ownership is giving way to consumption on an as-needed basis
- 4. All Rights Reserved Trends- Ambient computation In current scenario, 2 billion users belong to developing nations which seemed impossible in 2000 * Source : ITU Global internet penetration : 2000 - 2015 • Technology is the key enabler • Context aware devices have made real time aggregation possible
- 5. All Rights Reserved Product Evolution Stages DISCOVERY EFFICIENCY SCALE VALIDATION 1 2 3 4 Confirm whether you are solving a meaningful problem Seek validation that people are interested in your idea Refine the business model Drive growth aggressively Stage
- 6. All Rights Reserved Core Product Components Aggregation Scheduling Profiling Matching Notifications Tracking Payments Curation
- 7. All Rights Reserved What is Jugnoo? A hyperlocal marketplace connecting consumers and merchants in real time in a 3 mile radius Jugnoo means firefly in Hindi, the logo symbolizes an abstract firefly being drawn by a magical wand
- 8. All Rights Reserved Avg. working hours = 12 hrs Present average rides = 6 Free time = 7.5 hours Economic Potential Effective ride time = 35 mins Avg. ride time = 20 mins Avg. pick-up time = 5 mins Idle time = 10 mins Extra rides to tap = 14.5 Potential value per day = $72M/day Avg Fare = $ 1 Driver Opportunity Cost = $ 14.5/day Total autos in India = 5M Additional potential value Jugnoo can create- $26 billion per year
- 9. All Rights Reserved 9 COMPETITORS AUTO AGGREGATIO N B2C DELIVERIES B2B DELIVERIES TIER I TIER II TIER III Cost of growth Competition presence Current presence Phase I Phase II Expensive High Expensive High Expensive High Cheap Low Cheap None Cheap None Cheap None Cheap None Cheap None Strategy
- 10. Scaling Up
- 11. All Rights Reserved LONG TAIL Provide six verticals to meet the urgent need of market in low competition geos HUGE MARKET The auto rickshaw market in India is 10x the size of the taxi market in terms of rides/day LOW CAC Strong word-of-mouth and focus on repeat customers PROFITABLE Unique combination of B2B and B2C makes the business profitable The Jugnoo Advantage
- 12. All Rights Reserved Evolution Industries Clients Revenue Model Platform Modules Full stack service
Editor's Notes
- What is happening in commercial space and in cooperation space? Three revolutionary trends Economy of scale is being replaced by economy of platform Past: The bigger cooperations used to be more powerful and handle big demand better because of the economy of scale. Now: Crowd is elastic. It scales automatically. It doesn’t need a very large scale to get those same economy 2. Ownership is giving way to consumption of demand Past: People used to own things Now: uber and airbnb replace car and hotel consumption 3. Digital Platforms are bypassing traditional infrastructure It is more visible in developing countries like India. All the bigger cooperations are saying that they don’t want to own any infrastructure. So the ownership is fragmented that these companies are just aggregating them.
- Three factors that lead to huge growing on demand economies 3. Ambient computation smart phone (1) function: It gives persons or companies the context aware of information (2) user scale: 3 billion people can contact with the internet, 40% of the world’s population. The number is going to explore. India is going to be the biggest smart phone market. → more and more people can come in crowdsourcing world and offer their services → only smart phone can provide realtime service ( e.g.delivery )
- Once you have thought of what area you gonna crowdsource, the second step is the process. How to go about these process. Mostly companies start with one problem statement and stop of one problem statement. You don’t want to waste your time and resources to build some fancy products, when you realize it is not a good idea, because of legal problem etc. How on demand platform works? 2. Go through four process Discovery: meaningful problem e.g. big demand → crowdsourcing (2) Validation: people like it and it can be implemented e.g. privacy issue (3) Efficiency: it should be scalable in concept (4) Scale: idea inherently should be scalable in business sense
- Core Product Components 1. Aggregation: seamless, easy for crowd to come on the platform 2. Scheduling: match supply and demand 3. Profiling: know the profile of supplier and consumer 4. Matching: match supply and demand in real time 5. Notification: communication happened in last miles 6. Tracking: important for uber, airbnb, etc 7. Payment: payment are fluent 8. Curation: make sure all the bad experiences from supply side and demand side are reported
- Jugnoo is the auto-rickshaw aggregator. Auto rickshaw is kind of like tuktuk with three wheels. We just like uber. People press an bottom and rickshaws come. It started about year ago. We are doing around 10 thousand rides a day. India in that context does about 30 million rides on auto-rickshaw everyday. The market is so huge. We have huge impact that we can bring to the market.
- Impact 3. Better economic efficiency e.g. auto-rickshaw The drivers are free 70% of the time 5 million auto-rickshaw in the country, 7 hours of every person, will come out to be 26 billion dollars. Without spending a dollar on the infrastructure. → No need to complain the bad infrastructure. Just increase the efficiency of the people This is one of the e.g. that crowdsourcing company are increasing the economy base on the original infrastructure.