IamHere is currently one of the most popular ventures in the scene of Hyperlocal discovery. It was founded by three BITs alumni in 2017 and has its roots in Bengaluru. The main problem it addresses is of bringing individuals with similar interests, hobbies, and professions in a neighbourhood closer to each other. IamHere uses location as a platform to connect you with others who share your interests as well as companies and professionals in your area.
IamHere is a special category winner of the Government of India’s Aatmanirbhar App Challenge, a recipient of the ELEVATE funding program, and the Economic Times’ “Emerging Tech Startup” award as Appbrain’s Top Social Apps. It also got recognized by Financial Express and AsiaOne.
The Introduction & working of IamHere
It’s a community-controlled, crowd-sourced social tool that allows you to locate people on a map. IamHere also provides an option of categorizing yourself by your hobbies, passions, and profession, and the platform is replete with avatars to match them adequately. If someone else is looking for you, you’ll appear on the map, and you’ll be able to communicate with them through a primary chat interface.
You can also share tales, create or join events, participate in social activities, donate to local non-profits, and so on once you’ve downloaded the app—all in complete secrecy, with several levels of anonymity.
One caveat the founders faced at the start of their journey was deciding upon the name of their venture. The initial name of IamHere was found to be a bit too difficult to relate to the common masses speaking English. So a new, more straightforward name was chosen to better connect with both Indians and also the eventual global userbase the platform was meant for. Simultaneously, the founders desired a moniker that reflected the location concept they had adopted.
They tried bouncing it off individuals when they narrowed it down to a few names. Naren approached the same cab driver and inquired about “I am here.” He grinned and continued in Kannada that he didn’t even finish Class 5, but he understands this name; please retain it; one day, he will download the app and tell everyone that he suggested this name. Thus, IamHere was born.
IamHere’s Business and Revenue Model
IamHere’s business plan is divided into two parts. The first part is of the commerce based on the advertisement model where businesses can advertise themselves on the platform. And the second part is of the B2B2C model in which the businesses in participation with IamHere can provide a subscription model for the users of IamHere.
IamHere’s Target Market Size
According to Allied Market Research, the market is currently worth $30 billion and is expected to increase at a CAGR of 27 percent by 2025, implying a market of more than $100 billion. LBS is currently anticipated to be worth over $1 billion in India alone.
Partnership with NGOs
IamHere will now host 8700+ NGOs in India on its App, thanks to a relationship with GuideStar India, India’s largest and most credible NGO information repository. People wishing to make a positive difference in society can use the IamHere App to connect with NGOs serving a variety of issues in their area and communicate and interact with them.
All of the necessary information about the NGO, such as the issues it supports, upcoming events, and current campaigns, is only a tap away. Individuals who are willing to help can volunteer or make monetary contributions.
IamHere was founded by three former alumni of BITs Naren, Pratik, and Deepa. We intended to employ technology to generate a social impact through IamHere, says Naren Kumar. They began a social experiment by introducing hobbies, interests, and small businesses into mainstream search and linking people in their neighborhoods. The GuideStar cooperation brings this to new heights that even they can’t imagine right now.
Just in Bangalore, they have roughly 20K users on IamHere. Every day, the app receives 2K searches, and the app has now received 300K searches since its launch. According to Naren Kumar, 30 percent of our consumers conduct at least 5 searches every week, indicating a genuine need that they are providing for them.
Nitin, a business owner based in Bengaluru and also a cancer survivor is one of the many success stories made possible by IamHere. He admits that his business revenue has increased manifold ever since he joined the platform and was also able to hire some sales executives from the same platform.
Demand and supply have been successfully aligned most effectively possible thanks to hyperlocal apps. Making the neighborhood feel more neighborly is the main USP of IamHere, and if they could perfect their model and be able to raise revenue, they could easily start a revolution in the sector of Hyperlocal discovery and leave a benchmark for others to emulate.
IamHere is conducting network pilots with a few major corporations for their internal social networks. It has now worked out how to add 1000 people every day with minimum investment, up from 100 users a day six months ago.
Kumar said that they will have surpassed 10 million users in two years and will be available in more than 25 cities across the country. Users who contribute to the network daily and weekly are important to the network’s success as a social network.
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