Startup Spotlight: Instamojo
Startup Spotlight On Instamojo
Another fantastic startup, another growing machine, another outlier…..this time we at CITYHYD picked one of the fastest growing startups from India, which is making great strides forward. With this we are proud to present “Instamojo”.
CityHyd’s special thanks to Mr. Sampad Swain, Co-founder Instamojo, for sparing the time to share enough in-depth insight into what the company is all about and its mission.
It will really strike you when you read this- Instamojo: Frictionless e-commerce via links! Profound!! Something, you will also find in Sampad’s email signatures.
What Instamojo is all about?
Instamojo lets anyone sell directly to their audience and customers through a link. Right now, Instamojo let folks sell their digital creations as downloads. It’s essentially re-inventing the e-commerce paradigm by making selling online easier than it has ever been by bringing products to people as opposed to making people go searching for products.
Instamojo is also the fastest way to sell digital goods like ebooks, software, templates, designs, event tickets etc — from any website by either sharing or pasting a unique link wherever the audience for the goods are.
When was Instamojo been founded? And what stage is it at currently?
It all started in late 2010 when Sampad, Co-founder of Instamojo, started a newsletter comprising of video interviews as a side project. Later he wanted to monetize the newsletter but couldn’t as there wasn’t an easy, hassle-free solution which just works. Soon he realized that the problem was way too deeper than he thought, selling things online, especially digital goods, was a real pain.
Later, one thing led to another and today finally there is Instamojo! So while Instamojo was started as a side project but now it has taken a life of its own. And best part is it’s just getting started!
Instamojo is funded by investors from both silicon valley & India including 500startups, Blume Ventures, Rajan Anandan, Rob de Heus amongst many others.
What is Instamojo’s business model?
Selling on Instamojo works in 3 simple steps.
- Upload / create an offer by entering details
- Share the unique link to your customer(s) and audience
- Sell directly to your audience & customers without our single page checkout process.
Our business model is simple – we take 10% transaction fee on every successful transaction. Example – if you sell anything for 100, we pay you back 90. 10% fee includes hosting, bandwidth, payment processing, security.
What is so unique about Instamojo?
In one short line- Instamojo is a one-stop platform to sell instantly, easily and without any hassles! Use Instamojo once and you will exactly know why this is such a unique feature.
Who are the people behind Instamojo?
Instamojo is a small team founded by Sampad Swain, Akash Gehani and Harshad Sharma.
Sampad Swain is co-founder & CEO of Instamojo. Sampad has built 3 startups so far and raised venture money 3 times. He also co-founded & scaled DealsAndYou, which is one of the top 10 e-commerce companies in India.
Akash Gehani is co-founder of Instamojo. In a very short description- Akash likes to shake things up.
Harshad Sharma is co-founder of Instamojo. He is a Geek and a photographer, takes a lot of pride in making beautiful, usable software. In his own words- Harshad is a traveler and loves risks and adventures.
Connect with Instamojo
CITYHYD wishes Instamojo godspeed success!