We all have been in situations where we are expected to write addresses for registration and the experience is only daunting if you have to do it multiple times. So, what is the solution? Just tag your address! Yes. Maptags is a startup that made this task easy as breeze. Our interview with the Founder Krishna Yogi and all that he expects from this amazing journey.
SoS: Share with us your business idea and why you chose this specific business to be an entrepreneur.
Krishna: Our business idea is a concept called smart address where in your physical address is shortened to your favourite word and can be shared as a unique link. It thus helps you share your address as easily as sharing a link or a word. Smart address also helps you from updating your address in various sites whenever you change your address.
I used to attend quite a few interviews as I was bored with my job at Credit Suisse in Mumbai and every time faced the issue of typing the address in google search a hassle , so I thought why can’t a location be shared as a URL or something so I don’t have to type an address in Google Maps.
SoS: What kind of products do you offer to your clients and list out the key milestones of your business?
Krishna: Our main product Maptags- smart address caters to Individuals, businesses and events, so as per your requirement you can pick what you want. As far milestones go we have about 15000 users, 100s of businesses and 100s of events hosted so far.
SoS: What makes your business unique and how do you define your marketing strategies?
Krishna: Identifying right market and understanding customers need is what makes your business unique, we employ various marketing strategies right from social media marketing to physical marketing like typing up with business card printers etc.
SoS: Is your business bootstrapped or funded?
Krishna: Currently our business is bootstrapped.
SoS: How did you pitch your idea?
Krishna: We pitched our idea as a smart contact sharing platform, so by simply scanning a QR code one can get complete details about myself if I choose to and using our chatting platform can start chatting immediately.
SoS: What financial plans have you thought of to grow or expand your business?
Krishna: Obviously, revenue is a very important thing for any business to sustain, we have followed a freemium model wherein you can pick long tags (greater than 12 letter for free ) and short ones as paid ( 100 Rs per year ) , you can as many interesting tags as you want and sell them in future , we have started seeing good revenues as we have 100s of people who picked 100s of tags this way.
SoS: What are the plans for your business in the coming future?
Krishna: We want to expand to as many users as possible and partner with various e-commerce and hyperlocal platforms so you can simply enter your Maptag and fill the complete address instantly. We are looking at 1 million users in next 2 years.
SoS: What have been your challenges and the obstacles continuously in your entrepreneurial journey?
Krishna: Hiring good employees and creating innovative marketing strategies is one of the toughest things in my journey so far.
SoS: What have been the key ingredients that made your entrepreneurial dream a success?
Krishna: Constant concern about success and survival of my start-up has been a key motivator for me, I always keep thinking how I can make it better and bigger.
SoS: What would you want to convey to the budding entrepreneurs?
Krishna: Entrepreneurship is like a lottery, unless you try and buy a lottery ticket you will never win the lottery, there is no point in regretting of not doing something interesting when you are 70 years old. I see so many of really smart people becoming EMI slaves, please don’t buy a house until you are 40 at least.
— Team SoS