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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Entrepreneurship

Entrepreneurship

TrueFan- An online Platform Able to Connect Fans to an A-List of Celebrities

Truefan winners
Truefan winners-Image from facebook Truefan winners-Image from facebook
Truefan winners
Truefan winners-Image from facebook Truefan winners-Image from facebook

Truefan got its wave to the market in 2020, January. It’s an online platform that engages celebrities with their loyal fans across the world. The platform has been able to link big names like Hrithik Roshan, Ranveer Singh, Tiger Shroff.

Namish Goel is the CEO and co-founder of Truefan. Its headquarters are in Delhi, India. Some of the most popular aired movies across the world are Bollywood. Truefan captures the audience, then links them to heroes and heroines from a variety of movies. One can feel free to look at the conversation being hosted. But if you want to speak with a celebrity directly, then you have to pay a token price. But it’s not a big price.

The site is responsive and very easy to maneuver. At a time, there is a quiz game. Fans are allowed to try, answering questions from their respective celebrities. The winner gets selected to have a video talk with their celebrities. If for example, you had paid, you get back your money.

How is the platform from others?

The ability to have fun between celebrities and their loyal fans. One-on-one video talk versus one of the winning daily.

The startup has been able to partner with almost all the celebrities in Bollywood movies.

Founders

Namish Goel studied at IIT_Kharagpur before joining the tech industry. He worked with a private equity firm called Warburg Pincus. Other co-founders include Devender Indal and Nevaid Aggarwal. Since its launch in 2020, some of the biggest unreachable figures have made it possible to speak to their fans at the lowest level. Having an interactive session is cool.

What motivated the founders to create TrueFan?

In one interview, Namish was asked the same question and he had a lot to answer. “I have been a fanboy all my life. It was an almost surreal experience of gate-crashing a wedding to meet my idol, Virat Kohli that put me in the shoes of millions of Indian fans out there. India is a country that basically worships Bollywood celebrities, the connection seems quite distant but in a way is very personal. We realized that this issue of devotion towards the superstars and the lack of personal accessibility to them needed to be bridged.” This short story gave rise to Truefan. The platform aims to help millions of people in society to achieve their dreams by talking to celebrities.

What happened during the early stages?

After the developers completed building the site, the management immediately approached celebrities. Among them are Kareena Kapoor, Ranveer Singh Tiger Shroff, and Hrithink Roshan. As the development took place, users got engaged to bring closer their experience. Platform management has promised to partner with musicians, sports stars, and many others on A-listers.

What drove them to proceed?

The positive response from users within a short period of time. The company has managed to employ 40 people. They are working smart and hard to create a holistic space for their loyal fans. The interaction price will also be lowered if the number of fans increases.

How has been the Journey?

At some point, they face financial challenges. However, funding from users and the Bollywood partnership has made it possible to run the platform. They brought the right product to the best people who appreciate it. The positive response shaped their company.

Did they engage in fundraising?

Truefan company raised around $4.3M from investors like Ronnie Srewval. Furthermore, Mayfield India and Saama Capital came to the rescue of the company. Their uniqueness in the market has helped them earn trust from investors.

How is the competition?

A few players offering the same service are Gonut, Wysh, Unlu, and Tring. The celebrity-fan engagement field is still fresh in India. The largest player who has even made it to the international level is Cameo.

However, Namish Goel said their platform is a completely different model. It’s the only one in India that connects to A-list celebrities. The connection has gained them more users. Whenever a new celebrity partners with them, they’re getting new fans.

People from all corners of society can participate because the price is normal. There is no bias while playing the game. Its gamification has made millions of people feel happy. Over time, the CEO promised to move to other countries, including the US and UK.

Also Read:

Plans after Post Covid-19

The demand for engagement increased during the Covid-19 moments. The platform is different from social media in that the celebrity tries to come up with meaningful tasks.

Biggest Challenge ever experienced?

Customer trust is something that all startups have struggled with during the early stages. There are many platforms like Instagram, Linked In, and Facebook where people can talk. It’s difficult to convince them.

Has the government ever supported them?
The Indian government has promoted emerging startups through incubation and funding. The state wants to boost its entrepreneurship to bring the economy into a balanced ecosystem.

What are their future plans?

The CEO said they are working towards building a 360-degree celebrity-fan engagements across the world. Fans should be able to form communities and bring quality content to the limelight.

Message to Other Entrepreneurs

“Keep working hard, focus on deep execution and never give up”, Namish said.


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