It just takes one great idea in the current market dynamics to launch a startup. This line surely sums up how a research analyst went on to launch his own company in the technology sector. Mudit has always been an enterprising person driven by ingenuity and creativity. During his college days while doing BE, he took part in several initiatives that brought him much laurels among his peers. He was a part of several activities and societies during this period. After completing his graduation he went on to pursue post-graduation studies in supply chain and operations. He also held positions of research analyst at McKinsey and company, which gave him much needed experience.
However, that day came when an idea struck him, and he took the plunge in the startup arena. Moboace is a smartphone application that provides users with offers from businesses on the go. Within two days of the launch it got a reach of 2500+ people, 500+ people talking about it, 15+ selfies posted, 10+ brands publicized. This is the kind of success, every entrepreneur wishes to achieve
Please provide a brief overview of your product/ service.
Moboace is India’s first Selfie Offers App. We are a Mumbai based mobile technology start-up that provide enticing on the go offers to its users. It is a location based mobile marketing app which push notifies users of various offers/deals in her/his vicinity to help them save money. To help offline retail get back its sheen and to revive the magic and joy of shopping outside your homes, we have come up with Viral Selfie Offers. The pilot runs of selfie offers have begun through our facebook page and is quickly gaining popularity amongst people.
All it took was a crazy selfie and voila one got a brilliant offer. Merchants listing with us can now receive an unmatched social media presence and our app users get some really cool offers. App is set to launch by mid October. We have decided to cater to B&M retail segment wholly. So any restaurant, café, bar, salon spas, apparel store, electronic and multi-brand chain etc. can freely list their discounts and deals with us.
What inspired you to build the above product/ service?
I strongly believe that our shopping patterns and behavior are strongly determined by the kind of deals and offers we come across. Hence in order to save money and enjoy a fresh deal, it becomes all the more important to know them.
Therefore our app with its push notifications apprising users of various offers in their close proximity help shape their shopping decisions. And the retailer ensures better customer acquisition rising up sales. We didn’t stop here this time. To be ahead of others, we decided to extensively use social media and its power through our selfie offers and unleash a fresh wind of shopping magic and joy.
What is your life mantra?
Live passionately, Laugh loudly, and love deeply.
What was the most challenging part of your journey till now?
Building my team and my quest for technical experts has been by far the biggest challenge I faced. I am glad to have people from IIT-D, IIT-B, DCE and NITs on my team as co-founders, advisers and technical experts now.
How did you overcome those challenges?
Determination of keep doing what you have thought and rigorous networking is a good way to find bright and like-minded people and overcoming the challenge of building a strong team of varied and complementary skill set.
Share some details about the investments that you have been able to fetch for the business till now.
Currently we have raised money from family and friends. However, we are soon planning to seek seed money from investors to proliferate the idea of clicking selfies to gain more traction from users and merchants both and geographical expansion thereafter.
How do you protect yourself from the problem of Brain Drain?
As I mentioned finding and retaining right talent, according to me, is a by far the biggest challenge for any start up. Hence in order to avoid brain drain, one should have right incentives for people to work with you (It is always working ‘with’ and not ‘for’).
Each member in our team is super delighted with the happy, fun and healthy culture we follow. Despite geographical distances some of us have, we have maintained a good relationship for a long time now.
According to you, what are the three qualities an individual must have to achieve success?
Will, Passion and Determination
Which online tools/ services/ apps do you use the most and would like to recommend as well?
Facebook is something, I would recommend everyone to be active on. It isn’t only a social platform for families and friends to interact. Rather it has become a necessity to be in touch with the world out there.
Share any one habit which you think makes you more productive.
When I am on something, I am on it completely.
Share any one habit which you wish to change in yourself.
People recommend me to control my temper. I am working on that.
Answer in less than 50 words
• One tip to success:
Never be afraid of failures and listen to your brain when there is a conflict. Get up and fight again after an adversary is the best thing one can do in any challenging situation.
• One mistake you believe every individual must avoid:
If you find true talent in anyone, never let it go waste and never let go of such people. Finding and more importantly retaining talent is the biggest challenge for any start-up.
• One most important lesson that you have learnt till now:
Be devoted to your plans even if people feel you will fail. Because failures teach you lessons that success can never teach. Also, when you are totally involved into something, your team follow suit too.
What are your plans for next 3 years?
My plans for next year includes raising my venture to great heights which means I expect every person to open moboace and study offers and deals that suit them best before they step out of their home for any shopping extravaganza
If you get a chance to start your career again what would you do differently this time?
No major changes. However, I would have wanted to start my journey as an entrepreneur a little earlier than now.
What are your top three getaway destinations?
Nothing specific. Anywhere with my family and loved ones becomes a good enough getaway. Best would be Home, with a cup of tea and a plate full of pakodas
Share a quote that inspires you the most.
Hunter S Thompson — ‘Anything worth doing, is worth doing well.’