Startup Name: NearFox
Founders: Kiran and Pritesh
Investment: Undisclosed Amount
Investor: Globevestor Angel Fund, CoverFox CTO Devendra Rane, GenY Medium Co-founder and Ex-Principal of Ventureast Ravi Jain and Craftsvilla Products VP Arpan Nagdeve, among others.
Bored of your hectic schedule and looking for a fun event or a stress reliever at your fingertips to attend? Missing out your favorite bands, concerts and music events in your city? You should definitely check out NearFox. NearFox is the ultimate destination to explore and discover the happenings in your city. It gives you information like the best DJs, coolest parties in town, music concerts, treks, exhibitions and much more. It lets you find the most happening bars, happy hours, theatres, stand-ups and many other entertainment spots.
According to Pritesh the CEO of NearFox,
“NearFox brings fascinating stories, spanning food, the arts, wellness and pretty much everything in town you can imagine off. The idea focuses on becoming the ultimate destination to discover and explore the happenings in the city.”
NearFox revolves around the following topics:
- New in Town
- Food and Drink
Interview with Pritesh on NearFox
How it all did start?
Pritesh describes that
“India is the country craving for entertainment, we are always hungry for it and we all expect a lot of entertainment. We want to join some entertainment enriched activities in our lives, but usually end up watching movies or following up on our favorite TV series. But in reality there is ample number of things one can do apart from watching movies which nobody in general is aware off. We were quite surprised to see this gap and decided to solve the dilemma and came up with the NearFox.”
Who are your founding team, and their background?
Kiran is a 2004 IIT-Bombay graduate. He is a serial entrepreneur and founder of Organic Facts, a website which focuses on health and nutrition with a monthly traffic of around 3 million. Previously, he was head of sales at Chaupaati Bazaar, a startup acquired by Future Group in 2010.
Pritesh is a 2014 IIT-Bombay graduate, was earlier working with JPMorgan Chase before the duo got together.
How has been your Journey so far?
Following a 6-fold growth in website traffic over the last six months, NearFox is currently getting 2.5 lakh visits per month. It’s 100% organic reach, without spending even single penny on marketing or promotions of the product.
What are the future plans with your Company?
NearFox is planning to get live in 10 cities by mid-2017, and aims to launch in 200 cities globally over next three years through its expansion strategy led by an extensive blogger network and sharp focus concentrated on user-generated content.
What is the biggest challenge you faced as an entrepreneur and your strategy to overcome it?
The biggest challenge as an entrepreneur was in creating the right team. It was extremely difficult to choose the motivated and correct people at the same time. We decided to make the hiring processes very tough to choose the right people for the team. Pritesh says,
“Company fit is now a very important criterion for us. It helped us in hiring the right people who are helping us to build the company more profitable and efficient.”
What is your biggest learning so far in the entrepreneurial journey?
The biggest learning as when it comes to building a company is, there are no shortcuts. Be its hiring, business model or acquiring customers; everything should be sought from the first principle.
What is your Funding status?
The team recently raised an investment (undisclosed amount) from Globevestor Angel Fund, CoverFox CTO Devendra Rane, GenY Medium Co-founder and Ex-Principal of Ventureast Ravi Jain and Craftsvilla Products VP Arpan Nagdeve, among others.
What’s the tip for new entrepreneur in raising funding?
Always have backup plans in case you won’t be able to raise the funds. Your dreams should not die just because you are not able to raise the funds for the company.
Who are your Competitors & your plans to outpace them?
There are no major competitors in sight as of now. But going forward in our future perspective Zomato and TripAdvisor would become our major competitors.
We as a team are striving to build a strong value proposition for our users, taking their feedbacks regularly and building a scalable tech product. I think this will help us a lot in achieving an edge over the competitors.
What is your tip for newbie entrepreneurs?
I think everyone needs a coach/mentor. “Find someone who has done something which you want to do. This is the most important advice I can give!” concluded Pritesh.
The article was first published in The Cofounder. The Cofounder is India’s first print magazine which writes about early stage startups and entrepreneurship.