Subject: Go to Market
Going to Market is always a big event for a startup and I am glad to report that we went live today at our pilot location with real money and a real bank. For about a month we will be controlled and will go into full pilot only after that.
I will let VW readers know when we go into full pilot so that some in Delhi NCR may want to try the service.
I had also promised an update on our inner circle efforts where we would use stock to get advisors and build our team. That has gone exceptionally well as can be seen by visiting our website.
All the best to all of you for the holiday season and best wishes for 2008.
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The pilot location is Uttamnagar in West Delhi. The product is a savings account offered by the bank powered by Eko. There is no chequebook, ATM card and account holders can only deposit or witdraw cash at stores similar to telecom prepaid recharge points.Account holders and stores use mobile phones with no special hardware or software.
RYK to keep costs low and to learn a lot we did extensive testing simulating “war games” before we launched. We continue with this so that when we are in full pilot our product is robust. In addition we have phased out activities such as marketing collateral etc. such that we have very limited wasteful spending.
Will keep you all posted as our pilot expands and put up more details on our website. Expect more updates towards the end of January.
Sanjay,
I might be the only one, but a short intro about the product and company would have helped in context.
In any case, It’s awesome news. It’s a great feeling when this day finally arrives, isnt it? As someone said, this is the kinda stuff that you call your wife for and say “Hon, we’ve crossed the milestone… and an important one at that”. Do keep us posted.
Vijay
Hey Sanjay
Where in west delhi have u started the pilot ? Would like to know more about what you guys are offering, as i could not get a clear picture from your website.. Would be good if u could elaborate in layman terms in brief.
Cheers
Sanjay, do share your goto market tasks. I know you have some neat ideas so would love to hear how you’re using marketing innovations to make the activity more cost efficient.
Well done team. Congratulations..
Cheers
Ananth Sheel