I ought to be stunned at ET Money’s failure to move in to this space. Given the kind of unfair advantage they have in terms of reach, distribution and branding. But then in media more than any other sector, time & again we’ve seen industry leaders fail to recognize trends early.
Revenue models for these business tend to hinge around one or all of the following:
- Revenue from Data Analytics
- Sale of Customer Data
- Customer Profiling for Ad Sales
It’s hard to imagine ET Money developing the skill set required to build the analytics back end for a data driven play like this. Why do Indian companies try to build everything themselves? There’s an answer somewhere on Quora I’m sure.
Many of these companies started around the same time: 2014–15. Splitwise, Gullak, Monefy (based out of Kiev) and Bishinews Expense tracker collectively account for less than 3% of the market.
On a personal note: I’m using one of these. It’s a great way to track expenses if you’re a salaried individual and most of your expenses are made electronically.
Thanks for your time,
Ashish
- Team KG
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You can reach me on ashish@kalagato.com
