This Startup Sounds Like A Giant Eye Roll - Here's Why It Could Actually Blossom Into A Massive Business
Although "Uber for Everything" is a tired concept, investors say companies like BloomThat could actually become giant businesses. The key is to find a category in the on-demand space that grows the size of the user pie and doesn't just chip away at it.For instance: Before Uber, a very small number of people used black car services. Now, tons of people hail rides on Uber and competing services like Lyft, Sidecar, Gett and Hailo. These services are luring people from other industries to become their drivers, and they're encouraging people who never bothered to hail a car - either because it was too difficult or too expensive - to repeatedly use their services.
Early data shows BloomThat is positioned to turn non-flower buyers into regular customers, too. One investor tells Business Insider that the average flower-buyer sends 2.5 bouquet per year; BloomThat's customers are sending 11.Seed investors Hunter Walk and Dave Ambrose stress: "Removing friction, changing behaviors and growing the market is the ultimate trifecta" for an on-demand startup.
- SEBI asks PNB Housing to halt ₹4,000 crore preferential issue of shares
- Word Music Day 2021: Importance, history, memorable quotes and how to celebrate it during a pandemic
- International Yoga Day — this year’s theme is ‘Yoga for well-being’
- International Yoga Day 2021 — a few quotes to remember and share
- India witnesses decline in daily COVID-19 cases with 58,419 fresh cases, lowest in last 81 days