Coolest Start-ups 2015: MySmartPrice helps you compare prices of 100 product categories
What MySmartPrice does is help the user solve two problems - what to buy and where to buy. The focus is not just on providing the best price but also sharing information on best deals.
- Jun 5, 2015,
- Updated Jun 5, 2015 7:34 PM IST
ShopClues | Edureka | MySmartPrice | JunoTele Solutions | Linkstreet Learning | LimeRoad | Framebench Technologies | Haygot Education | HackerEarth | Culture Machine Media
On the future, Ray says five to six years ago it was relatively easy to predict the world. But not anymore, given the speed of change. "Four years ago only 10 per cent of our users accessed us on mobile phones. Today, the figure is 65 per cent. In the last one year, we have grown five times, earn close to Rs 20 crore revenue and are near cash breakeven. We hope to grow at least four times in the next one year and earn revenue of Rs 80 crore."
The company's revenue model is simple. It gets a cut from retailers for sales executed through it. Of all the stores that pay it, the top four are Flipkart, Amazon, Snapdeal and Paytm. The potential is huge. According to the company, Indian e-commerce should generate sales worth $10 billion in 2016. The Indian affiliate segment has the potential to contribute $2 billion to this, it says.
The company's philosophy, according to Ray, is not to let growth depend on breakthrough innovation but on being consistent and the best at what you know. He says he picked up this mantra from an entrepreneur who told him that "not everybody can be an outlier like Sachin Tendulkar but one can certainly aspire to be a consistent player like Anil Kumble".
"If you continue to throw the ball at the right place, it will hit the wicket sometime or the other," says Ray. That's why the focus is on continuous improvement.
ShopClues | Edureka | MySmartPrice | JunoTele Solutions | Linkstreet Learning | LimeRoad | Framebench Technologies | Haygot Education | HackerEarth | Culture Machine Media
On the future, Ray says five to six years ago it was relatively easy to predict the world. But not anymore, given the speed of change. "Four years ago only 10 per cent of our users accessed us on mobile phones. Today, the figure is 65 per cent. In the last one year, we have grown five times, earn close to Rs 20 crore revenue and are near cash breakeven. We hope to grow at least four times in the next one year and earn revenue of Rs 80 crore."
The company's revenue model is simple. It gets a cut from retailers for sales executed through it. Of all the stores that pay it, the top four are Flipkart, Amazon, Snapdeal and Paytm. The potential is huge. According to the company, Indian e-commerce should generate sales worth $10 billion in 2016. The Indian affiliate segment has the potential to contribute $2 billion to this, it says.
The company's philosophy, according to Ray, is not to let growth depend on breakthrough innovation but on being consistent and the best at what you know. He says he picked up this mantra from an entrepreneur who told him that "not everybody can be an outlier like Sachin Tendulkar but one can certainly aspire to be a consistent player like Anil Kumble".
"If you continue to throw the ball at the right place, it will hit the wicket sometime or the other," says Ray. That's why the focus is on continuous improvement.