Wishpicker.com – an exciting new startup that helps you figure out WHAT to gift!

38523852a1

We all need someone to guide us while we want something to buy for our loved ones. What should I buy? What will be better? these are some questions which come to our mind for sure. Wishpicker is a search engine which search gifts based on “Age”, “Relationship” and occasion.

The best part about Wishpicker is that it can suggest gifts using Facebook information of your dear and near ones. Wishpicker was founded by two alumni of IIT Delhi- Apurv Bansal and Prateek Rathore in Jul 2013.

“A broken heart can fight an army, a broken heart can unite the world!”  What happens when you get dumped for gifting a greeting card on your anniversary? You fall, you rise from the ashes, and you vow to help your brethren from meeting the same fate.  Happened with one of us! We tried finding a better way to help decide what to gift. We couldn’t find any, and for the sake of humanity, decided to build one! , Say Wishpicker founders.

We featured Wishpicker while they were in beta stage (Click here for article), now they are out of beta stage.

WebApp_Homepage“The new version includes a massively improved algorithm, which incorporates machine learning, along with a revamped UI/ UX. We have doubled our team size, and are working on creating a social platform around our product, which we plan to roll out in the next couple of months”, says Apurv.
 
 

What motivated the founders to start Whishpicker?

  • Apurv Bansal, an IIT graudate, was looking to gift his girlfriend on her Birthday. He searched online for ideas, but was overwhelmed with the large no of options that came up. With every website claiming to sell the ‘best gift’ he got mighty confused. Around the same time, Prateek Rathore, Apurv’s batchmate from IIT was pursuing his management studies at IE Business School in Spain. He was looking to send a nice anniversary gift back home to his parents. He turned to the internet, but returned disappointed. He had to call up his sister, and asked her to buy a gift from the mall.
  • Apurv and Prateek, who always wanted to start a venture of their own, spoke about this. They realized that this was a problem faced by a large number of people on a regular basis. Prateek, a Computer Engineer, knew that he could use technology to help people figure out what to gift. He convinced Apurv to quit his high paying corporate job at Bain & Company in Mumbai, and return to Delhi. Prateek completed his course in Spain and flew back home. In early 2013, they began working on their venture, wishpicker.com, from the terrace of Prateek’s parents’ flat in Delhi. Soon after, they roped in Tejendra Singh, B.Tech in Computer Science from IIT Patna, as a core technology member, and there has been no looking back ever since.

 

What kind of traction whishpicker is witnessing? Future plans? What about fundraising?

  • They are about 1 year old, and have already crossed 200,000 unique monthly visitors. This is expected to double in the next 2-3 months, given the current rate of growth.
  • Mobile is the future, and they are betting big on it. They just launched a mobile web app, and this will enable them to cater to consumers for whom online shopping is a mobile only experience.
  • Started with a seed capital of 15 lacs, which we put in from founders’ personal savings, funding is also on the cards for them. They are in advanced stage of talks with a few investors.

Homepage_Screenshot1

How do they generate revenue?

  • Customers are redirected to their partner websites when they select a particular gift. The partner portal pays wishpicker a commission for every transaction that is processed on their website, via Wishpicker. The consumers do not have to pay a penny extra.
  • Given that They are generating extremely rich IP, we will explore various other revenue streams going forward.

How it works?

Gifts are curated from the best online stores, and this helps the user get access to the best that is available across the web – all at one place. Essentially, a one stop shop for the best gift ideas! They can choose from a wide range of gift products, gift vouchers, experiential gifts etc. Users can also filter results based on personality, budget, type of gift, and various other parameters.

Wishpicker has 20 e-commerce partners as of now, including Flipkart, HappilyUnmarried, Ferns and Petals, etc. They plan increase the number of tie-ups soon.

Future plans:

The problem that we are trying to solve – deciding what to gift – is intrinsically global in nature. We have an extremely scalable model, given that we are completely cloud-based, and do not hold our own inventory. As a result, we plan to expand internationally soon after cracking the Indian market. 

WebApp_Gifts_For_GirlfriendUpdates directly from Wishpicker:

  1. We recently launched our mobile web app
    • Mobile is the future, and we are betting big on it. We just launched our mobile web app, and this will enable us to cater to consumers for whom online shopping is a mobile only experience. We are committed to help consumers find the perfect gift for their loved ones.
  2. We crossed 200K unique monthly visitors (with absolutely zero marketing spend – this does NOT include the massive traffic on our blog).
    • Reaching 200K monthly unique visitors without any marketing spend shows the strength of our recommendation engine.
    • We have grown primarily via word of mouth marketing.
  3. We have broken even operationally – raising a round of funding soon
    • Given the increase in traffic, and the improvement in our recommendation engine on the back of machine learning, we have broken even operationally.
    • We require funding, and are in advanced talks with both institutional investors, and various angels. We are deliberating which route to take, and will close a round soon (investment primarily in technology and marketing).
  4. We have set up an in house data analytics team, design has undergone complete revamp
    • Our data analytics team crunches millions of data points to come up with gift recommendations perfect for the gift recipient. Machine learning has been implemented to ensure that recommendations get better with every passing day.
    • Based on user feedback, we have redesigned our website from scratch. The new layout makes for a more visual way to browse through and select a gift. This has directly impacted our conversion rate.

Meet the founders :

 

        apurv_bansal_pic

Apurv Bansal, FounderIIT   Delhi graduate

Worked with Bain & Co

Loves   cricket

Marketing   whiz

Gift   connoisseur

    prateek_rathore_pic5

Prateek Rathore, FounderIIT   Delhi graduate

IE   Business School, Spain

Royal   Bank of Scotland

Professional   dancer

Tech   Guru 

 

 

Be Sociable, Share!


Mohit Bansal(23) is B.Tech in Electronics and Communication Engineering from Indian School of Mines, Dhanbad, India. He has interest in business and entrepreneurship and has published couple of research articles. He is also associated with various NGOs. He is with Techaloo when it was just in concept stage. The Techaloo site was not existing even then. Currently Mohit is working with Mu Sigma as a Business Analyst Profile.

Leave a Comment

Current ye@r *

Close
Please support the site
By clicking any of these buttons you help our site to get better
Social PopUP by Timersys