The Bangalore based startup, Onze has built a niche business in LBS space and have cracked deals with retailers delivering a useful (and no-nonsense) service to them.
We interviewed the Onze team earlier and here is an excerpt.
Qn: What was the initial hypothesis around the product launch? How much of it has changed over the last few years?
We started building an in-car navigation system for India. We quickly moved onto a different business where we provide local search on SMS, and monetize by selling targeted contextual advertising on it. We have used this platform and have now launched services for retail business, that helps them in their marketing and customer service.
..When we started our initial business plan, we had very little data and a lot of assumptions. When we learnt more about our market, about our abilities to execute, the business responded by evolving our value proposition, pricing, target audience , etc.
Thus, over the last 3 years, our business has changed from what we originally thought it will be
In essence, they were just like any other startup, pivoted and have now found a sweet spot.
Congrats to the Onze team. Very well deserved. The iPad (plus a lot of goodies) are on your way.
We of course would like to thank Sequoia Capital India team for supporting this initiative and most importantly, spending time with the finalists.
And what next for the May entries? We will announce it very shortly.