It’s a Saturday night time and you've got not anything to do. You have executed your share of on-line purchasing inside the day at Myntra, ordered your weekly groceries via Grofers or Bigbasket, and feature even controlled to get your leaking faucet constant via Zimmber or Doormint. You are not in the mood for a movie, so you haven’t felt the need to browse via your Bookmyshow app. You want to step out, but you don't have any clue where to go. Wouldn’t or not it's quality in case you just knew come what may what goes on in the coolest membership inside the city or if that best wine bar you heard of has any wine tasting covered up? And extra so, if you may get a ultimate minute access to that?
Enter Instabounce or as they name “the going-out app.” Founded through Harman Sawhney, the app offers a enormously-curated listing of selected final-minute occasions for everyone at discounted (or even unfastened) expenses. From a meals connoisseur, to a wine –lover or to easy party hopper, all of us can discover an occasion in their desire and make remaining minute bookings in a remember of two-three tabs. As Harman says, “This is the handiest platform which suggests night time existence activities, permitting customers to e-book an occasion and obtain a notification in mere 10 seconds.” The USP is easy, you browse the activities, you e book them, and you're geared up to bop!
The idea for Instabounce sprang from Harman’s very own experience of running in the occasions industry for round 5 years. That enjoy gave him insights into booking trends for such events and he found out that nearly ninety% of the reservations had been made at the final minute. Consequently, occasion organizers needed to grapple with a variety of unsold stock. He felt the space between event organizers and consumers, and consequently turned into born the concept for app which could make it users to find out these events at the closing minute, make bookings feasible, and accordingly take care of unsold inventory. By facilitating and enabling the closing minute going out plans, Instabounce aims to create a win-win scenario for each the occasion organizers and the spontaneous planners.
How it really works
Discovering and booking activities on the app is an issue of 2-three clicks. If it's miles ticketed event, your price ticket will be generated in a depend of 10 seconds within the app itself. After logging in, customers are presented with a spread of occasions from the likes of wine and food pairing to cocktail tasting, stand-up comedy, clubbing, karaoke, live shows and other events for that night time or if it's far past due in the day, for the following day too.
Instabounce reaches out to occasion organizers who listing their events at the platform. Currently, the firm curates events only in Delhi and has controlled to land about 35-forty occasion companions on board, who are worried in list and updating particular activities on the portal.
Monetization, Funding and Traction
The app is currently focused on customers in Delhi/NCR. Ever on account that its launch in December 2014, the app, which is available on Android and iOS structures has witnessed about 15,000 downloads.The business enterprise is witnessing a fifteen-20% month-on-month upward push in sales. Harman says that Delhi by myself has an target market of 100,000-a hundred twenty five,000 clients who would be inquisitive about such an app, for this reason, the gambling subject for Instabounce is large. On a month-to-month basis, the 3 member crew is doing over 4000+ bookings.
The app is loose for the users even as event organizers are charged on a commission basis, depending on the wide variety of users who make bookings through the app. The plan is to transport to a hard and fast fee revenue model quickly.
The company is leveraging the $15,000 (INR 1 Mn) funding that they gained at IIT-Mumbai’s Shark-tank styled startup showcase. The investment become led by Dr. Annirudha Malpani and Anil Chokhani. It became additionally one of the 14 startups selected for StartupPulse Delhi 2nd version.
Having examined the waters inside the u . S .’s capital, Instabounce is now searching at a metropolis via town enlargement. It has set points of interest on a Mumbai release now. Additionally, it's also ramping up the product and running out on rolling the second one model of the app. This version will permit a greater customized enjoy with push notifications being sent to customers based on their regions of hobby. Additionally, it will likely be feasible to look what occasions your friends are going to.
Harman, adds, “The idea is to create an atmosphere for event creators, artists, and users alike.” Consequently, the startup may also focus on raising extra cash because it charts its further expansion course.
Competition and Differentiation
As of now, Instabounce doesn’t have any direct opponents who are curating totally night time existence events. There are occasion curators like Meraevent.Com, Kyazoonga, and Bookmyshow, but Harman points out the wide distinction in the form of activities on those portals. While those may also cater to theatre, drama, and different ticketed events, Instabounce is focusing totally on nightlife events which includes meals tasting, wine tasting, karaoke celebration, stand-up comedy, stay gigs, and clubbing.
Instabounce has a completely unique proposition to provide and has the ability to come to be a reachable app for those who make last minute plans to go out. The platform is hoping to remedy the problem of unsold inventory for event creators at the last minute, which makes it a beneficial app for them too. However, how some distance it scales up can be decided by using the reality that what number of such specific occasions is it able to curate in assessment to other competitors inside the event aggregation and ticketing space.