Bangalore based Zipdial which provides various phone based marketing solutions to customers has raised under $500,000 from 500 Startups. The company which raised nearly $800K USD from Mumbai Angels in April 2011, has aggressive expansion plans and wants to tackle the South Asia markets first. In an interview with NBW, Valerie Wagoner, Founder & CEO at ZipDial shares immediate plans. Edited Excerpts:
What are your international expansion plans?
We have not only been accelerating our product development but also have started to expand internationally. That’s something we have always planned for about the last 9- 12 months. The decision to go international now, is a combination of 3 things. The demand from our customers, global brands we work with and the investment from 500 startups. The global brands we work with are starting to expand to South Asia and want us there.
We launched in the Caribbean last year. We will first target South Asia where many of our clients in India also operate. First we will launch in Bangladesh.
From a strategic perspective, in terms of size and revenue Indonesia, Philippines and Nigeria are countries of importance for us.
When will you roll out in Bangladesh?
From a product perspective, what are your plans?
There are a 100 things we could do with the Zipdial platform. When and where we enhance and improve depends on the customers demand. One thing that’s catching up now is that clients are looking for ways to gratify their customers using the mobile. For instance instead of giving a Rs 10 coupon to a customer, you could use the Zipdial platform to probably give them a Rs 10 recharge. Cards and coupons are a very inefficient way of doing things and instead you could use Zipdial to deliver the same value on the customers mobile phone. That concept has really picked up. Customers are not only using Zipdial for direct response these days. They are also using it to go viral by recruiting friends on your social network and asking them to participate in campaigns.
How many customers do you have now?
We have nearly 400 customers now. We ramped up quite quickly. Around 6 months ago, we had 200- 250 customers.
What are your revenue targets like?
We are on track to hit 5x revenues from last year. As for break even, its a question of scaling. We know exactly what to do to break even. But we want to scale now. Can’t flip the switch overnight but we can break even in 2 months or so if we chose to.
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