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Bankrupt Twice, Bootstrapped With Over 100K Clients – Bhopal Based Appointy’s Never Say Never Attitude

Bankrupt Twice, Bootstrapped With Over 100K Clients – Bhopal Based Appointy’s Never Say Never Attitude

When on-line scheduling software firm Appointy changed into involved in a commercial enterprise dispute in 2014, founder Nemesh Singh changed into staring inside the face of its 2nd financial disaster. The occurrence did no longer dishearten him lots, due to the fact on the identical time he became constructing a brand new three,000 square toes office for his crew, which had worked out of the antique 2 hundred square ft workplace for over a decade. He obviously couldn't demotivate the crew, so paintings on the brand new office endured. Luckily for him, Appointy survived its second bankruptcy and so did the new office.

Bouncing lower back on its feet, this twice bankrupt, bootstrapped startup from the echelons of Bhopal, now serves over 100K clients in greater than one hundred ten nations with much less than 1% of its customers hailing from India. And why so? Because it only specializes in customers who recognize the importance of scheduling. So, the criterion for choosing a market to enter is quite simple – its site visitors sense! Says Nemesh,

“So any us of a in which human beings have properly site visitors sense will sense the want and use of scheduling. And that’s how we pick out markets.”

No surprise, Appointy is now making viable $450 Mn+ of commerce every 12 months for its clients. Nemesh and his team have come a long way from 2001 after they earned their first cheque for his or her product Extreme Call Manager.

The Torn Shoes And 19K!

Nemesh has usually maintained that he turned into an engineer through threat and now not by choice. After his graduation as a Mechanical Engineer in 2001 from Oriental Institute of Science and Technology (OIST), he wasn’t capable of cozy a process attributable to the 2000 bubble burst. So, for the next 3 years he stayed along with his pals and worked as a freelancer, developing websites for clients.

The revel in taught him that lower back then, Indian customers had been typically reluctant to pay. Dues for approximately 7-eight of his tasks in no way materialised, which made him recognise that this was now not the marketplace they desired to be in. So, transferring faraway from web sites, he centered on building products. The first product the 4 member crew constructed changed into Extreme Call Manager, something on the strains of CRM software program Salesforce. However, selling it to Indian companies grew to become out to be quite a battle for them. Says Nemesh,

“I effortlessly visited approximately one hundred organizations pitching Extreme Call Manager but did not meet with success. My footwear have been torn within the manner. I recollect throughout that point I became rejected through a customer even earlier than I ought to tell him approximately the product while he saw my torn footwear.”

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In the end, Nemesh became able to promote the product to best one customer who paid INR 19K for the equal. The crew which includes Khushal Patel  (CTO & co-founder), Sarang Verma (COO & co-founder), Puneet Pathak (Founding Team Member) and Rajesh (Founding Team Member), changed into jubilant as they may effortlessly subsist on that 19K for another couple of months! But it was at that factor, they realised that they want to shift their marketplace as well. So, the group started pitching for outsourced initiatives from US. The first project that got here their way involved making templates. And to sweeten the deal, their purchaser made the entire fee earlier! Nemesh become ecstatic. “We realised that you didn’t ought to go to US to get projects. So we started out bidding for tasks on websites. And we determined not to take in advance cash from customers. Instead we asked them to pay us if they liked our work.”

Nemesh’s approach paid off as greater technical initiatives began coming their manner. The crew might supply these projects at a cost and time a great deal competitive in comparison to other builders. Many in their customers together with salons, spas, requested for a scheduling web page. It was at some point of this time that Nemesh and his crew additionally started bundling a free appointment and interest scheduling plugin for his or her customers. The group created a plugin for WordPress with a generalised script that could also be modified and customized in 1-2 hours.

Thus was born Appointy in 2007, an online scheduling software which permits small and medium sized businesses to assist them grow exponentially by using assisting them scheduling appointments on line and fill their open times by means of accomplishing their customers quicker. It additionally enables them to just accept pre-payments, ship reminder alerts, replace social networks and private calendars, create promotions, and create bargain coupons. Says Nemesh,

“When we created Appointy, we by no means centered on getting a marketplace for it. We have been solely focused on fixing a hassle. At that time, there was no scheduling plugin for WordPress. So we evolved it.”

Similarly, they have been the first crew to increase a loose plugin to feature Facebook ‘Like’ support on a site, which have become pretty a hit and became an advertisement for Appointy in plugins.

Bankruptcy No. 1 And 2

Till 2011, the product become free and had a few 19K downloads. The firm become incomes sales from its outsourced tasks. But that went bust with the shutdown of its essential paying consumer in Poland. With no money, no plan B, the crew became moving in the direction of their first financial disaster. Nemesh realised that it become time to prevent the whole lot, cognizance on Appointy and monetise it as a SaaS-based enterprise. The financial disaster pressured them to eventually begin pricing their product with pro plans starting from $10 a month. In much less than six months, the product earned them $10K. A failed assembly with Sequoia meant that the agency could not depend on external finances to sustain itself, subsequently they stored on pushing themselves to acquire an increasing number of clients, with out a proper income or advertising group!

Getting recognized by using NASSCOM in 2013 as one of the top 50 emerging corporations and then being selected for the 2014 summer season batch of Microsoft’s Accelerator programme in India enabled the organization to resurge lower back from hard times. The enterprise changed into literally signing one hundred customers an afternoon.

In 2014, it also opened a 2nd workplace in Bangalore and began constructing a larger workplace in Bhopal. Unfortunately, it changed into the same time while a business dispute led to its second financial ruin. The enterprise got here out of it by using the end of the yr, added its clients again, reinforced its center competency and sooner or later moved right into a 3000 rectangular foot workplace.

For Nemesh and the crew it become a sizeable milestone, as, for the final 14 years, they were working from that identical 200 rectangular ft workplace. And pretty interestingly, that they had continually been profitable from day one.

Booking An Appointment Every Five Seconds

Today, Appointy serves more than 100K clients in over one hundred ten countries without having spent a unmarried dollar on advertising. Every 5 seconds, an appointment is booked via Appointy. Almost 20,000 appointments are booked through Appointy every day, with the price ticket length various everywhere between $65 to $a hundred. This interprets to over $450 Mn of commerce price every year. Additionally, 70-100 corporations sign up day by day with Appointy. From the first paid purchaser in 2011 paying simply $10 a month, Appointy now has extra than 2,000 paying customers with plans beginning at $30 and going as much as $1000 a month.

There are many firms in the scheduling enterprise inclusive of its closest rival MindBodyOnline, Schedulicity, and Genbook. Appointy, but differentiates itself from others by using focusing extra on small businesses than organisations. This method of specializing in clients inside the $800-$2,000 bracket, going for smaller businesses, has allowed it to seize greater markets.

Says Nemesh, “80% of companies are not in a position fill of their instances. For them, time is money. We have construct a enterprise which manages their time better and reach more customers to develop quicker.”

When it involves the competition, Nemesh is not very concerned because the marketplace length for such merchandise is massive. He believes that despite the fact that greater companies enter the distance, they may also be capable of get a few slice of the pie. As far as MindBodyOnline is worried, Appointy ratings as a result of its decrease rate and the reality that it offers demos while MindBodyOnline doesn’t. However, it has a sales team to push sales quicker, some thing which Appointy hasn’t invested in. Throughout its journey, it has simplest targeted on focused on clients who realize what's scheduling in place of create a market for it. Hence, its particular approach to enter these international locations wherein humans have a incredible traffic feel and thereby understand scheduling!

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The crew of 20 full time employees and 44 along with interns is now Singapore-based totally, does sales from US, handles tech from India, and has its call centre help outsourced to Ukraine. In the past one year, Appointy has nearly tripled its group of workers, and is on target to quadruple office area in the next three months. Going forward, it's going to recognition on supplying extra fee to the clients from its product, allowing businesses to convert customers coming from every medium, be it web, social media or e-mails. In the pipeline are plans to use AI to similarly energy its services. What first commenced as a ‘side challenge’ paradoxically is today one of the world’s largest scheduling organizations!

Editor’s Note

Nemesh notes that whilst the Indian startup environment focuses more on a way to boost finances, someplace it lacks in the back of in teaching extra practical stuff to approaching startups. Building a organisation from the ashes of  bankruptcies, selling it to greater than one hundred international locations without a income group, and doing all this with none external support is certainly a commendable effort. This units Appointy aside from the hordes of startups that chase VC money and then burn all that money with out duly that specialize in solving a specific trouble or developing a unique solution.

Appointy’s rags to riches tale is an ideal instance of the opportunity for SaaS-based startups in India to triumph over worldwide markets. Alternatively, it's also a reminder of the way thick skinned startup founders need to be so that you can preserve their startups strolling inside the face of the worst adversities, be it with torn footwear or none.

Author Biography.

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