Tapzo – the Indian app-of-all-apps announced that they are closing down. Partha B., my Linkedin buddy had this question: why are Chinese Taibaos/ WeChats surviving but Indian apps not. I’m reproducing my answer for those who missed it.
- India is India – not China 5 years back or USA X years ago.
- Most Indian product startups are trying to build an Indian Uber or an Indian Taobao and not something that the Indian market really needs & craves for. I have been shouting myself hoarse & keep stressing this in my Go To Market workshops – the need & process for Indian startups to make & sell for India. Solve the right problem!
- Chinese Internet giants came to the scene 10 – 20 years back in a China which didnt have private sector institutions (large companies) meeting customer needs. Its a bit like post-independence India for the Tatas & Birlas or post WWII Japan for the Mitsubishi’s & Toyotas. The Tencents and the Alibabas likewise found themselves in a relatively prosperous but high-quality service starved internet ready China. They evolved to fill in the market demand & become internet institutions/ conglomerates/app-of-apps. So going back to 2) solve the right problem.