Multi-utility app to tap big share in 20-billion-dollar market
Tapzo, a multi-utility app offers its users an option to book a cab, order for food, recharge DTH/mobiles and pay utility bills, under a common platform, eliminating the need to download multiple apps for these tasks. The founder of the app gets talking on the market for such utilities and how Chennai fares when it comes to usage trends.
By : migrator
Update: 2017-02-12 16:14 GMT
Chennai
Giving us an idea of the size of the market of app based utility/service providers in India that Tapzo is currently operating in, Ankur Singla, CEO and Founder of Tapzo says, “We believe that the market size is Rs 13,40,000 million ($20 billion). Today, we would own close to 0.5 per cent of the market and we are planning to grow to 5 per cent of this huge market by 2020.
As of now, we are operational across India and for specific categories (i.e. cabs/food), wherever our partners (Ola, Uber, Swiggy, Zomato etc.) provide services. Bengaluru, Delhi NCR and Hyderabad are the biggest markets for us and Chennai also leads the pack among the top 6-7 cities which drive high number of transactions for us.”
The team, which is based out of Bengaluru, believes that the single biggest USP of the app is that one can do almost everything in just one app and there is no need to install and update multiple apps for multiple requirements. One can use multiple wallets to make payments and even read content like horoscope or news.
The response to Tapzo’s services in Chennai has been quite encouraging and the company believes the city is a promising market, as far as numbers go. He says, “We have great response from Tamil Nadu and specifically from Chennai. A majority of users of Tapzo in Tamil Nadu are in the age bracket 20-30 and 80 per cent of them are male.
On an average, 15 users connect from Tamil Nadu every minute on the app. Approximately 10 per cent of our Monthly Active Users are from the state. While Chennai accounts for a good chunk of these users, we have users from more than 40 cities and towns in Tamil Nadu too.”
Following an aggressive marketing campaign that included TVCs featuring YouTube superstars, Tapzo witnessed a record rise in traction in the past one month. Ankur explains, “We hit 1,00,000 daily transactions on January 22, up from 65,000 daily transactions from December 2016.
During the same time, the company hit the $72 million annual Gross Merchandise Value (GMV) run rate. The company grew 1,400 per cent in 2016 – going from 4,600 to 65,000 daily transactions. We're aiming to grow 300-500 per cent from where we are today till the end of this year.”
Elaborating on the challenges faced by the company in integrating such a large number of service providing apps on its native App, the founder says, “We have to ensure that the look and feel of our app should be simple and easy to understand for the user.
We've got long waitlist of partners wanting to be integrated on the Tapzo platform. Right now, we are focused on building a great product for our users and to improve their experience. We'll continue to invest in technology and product.”
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