India, the next "super app" market?

Introduction:Truecaller, initially, was an app that helped users block spam calls. When two engineers uploaded the application to the Apple App Store in Sweden, they did not anticipate that, without any publicity and marketing methods, Truecaller would get 1.5 million downloads in a week thousands of miles away from India and quickly become a hot mobile application in India.
Since 2009, Truecaller has realized in India theleap-forward developmentThe software has gone from being an app that blocks spam calls to a collection of lifestyle services"Super Apps"The story of Truecaller. Through Truecaller's story, we get a glimpse of the "super app" market that is taking shape in India's hot market.

 The birth of "super apps": it was India that found them

Of the world's 7.6 billion people, 4.1 billion have access to the Internet, and of those who do not have access to the Internet worldwide, aroundone-quarterIn India. Driven by digital transformation, Internet users in India will steadily increase in the medium to long term, with Cisco forecasting that overall IP traffic in India is expected to grow to four times its 2016 level by 2021, at a compound annual growth rate (CAGR) of30%. Meanwhile, as one of the fastest growing countries in terms of population, India's population pyramid model shows that the maximum number of potential Internet users in India (population between the ages of 14-48 years old) will reach approximately in 20258Billions.

As of 2018, India isthe world's largest consumer of mobile data.It's also the world'sFastest transition from 2G and 3G to 4Gof the country. There is no doubt that India is alsoFastest growing internet and smartphone market-India is now the world's second largest telecom market after China, with 295 million of India's 400 million plus urban population using cell phones to access the Internet, and nearly 200 million Internet users out of a rural population of 900 million plus, and that number is still rising. The GSM Association predicts that India's mobile Internet users will grow at a rate of 6% per year, and by 2020, the mobile Internet population will reach 670 million.

The huge stock market and the extremely fast soaring Internet penetration rate make India a mouth-watering market for any Internet company.Mobile apps apps have become a rapidly expanding nugget market.

However, in contrast to India's total large potential user baseExtreme lack of market education.. A quarter of India's population lives below the poverty line.Illiteracy rate of one quarter, which leaves their demand for mobile apps at the basic functional apps. In recent years, as India's middle class continues to grow, the needs of Indian cell phone users with cell phones have gradually expanded, creating a strong appfunctional requirementThe

"India found us.", is what Alan Mamedi, CEO of Truecaller, says about its amazing beginnings in the Indian market.

Backward market and consumers to be educated, excellent mobile app market entry point, foolproof operation of user needs(math.) genusNew Functional Consumption Demands Increasing with the TimesIt means thatWith a huge incremental market, very low market entry barriers, and easily satisfied user needs, theThis has led to the birth of "super apps" in India.

Localizing super apps in India: imitation, learning and interpretation

As Indian startups break new ground, there is always the question of how to build a business model. In a market where technology is mature but the market is weak, there are old stories of giants folding up and cases of startups becoming overnight successes.

A section of entrepreneurs have turned their attention to neighboring China, a country where the development of the Internet has transformed the lifestyle of the people and the functioning of the country, providing a rich and diverse set of referable cases for the Indian market. In China's illustrious history of mobile app development, mobile apps apps have achievedA huge leap from nothing to something.

Truecaller's development path has clear references to WeChat - it is trying to replicate the script of Tencent's WeChat success show. As WeChat released its tagline when it entered the Indian market in 2013 - "One-stop social platform (all-in-one social app)", Truecaller, guided by this spirit, provides users with one-stop functional services including payment, social commerce and information dissemination platforms, shifting the full lifecycle of the user online and within the app, making the user a part of his or her own software enclosure.

In addition to WeChat.Tencent videoIt has also become an important business research case for Indian Internet companies. Tencent Video's line of emphasizing network and station linkage, headline rights and boutique self-productions was borrowed by MX Player. As a video-playing app with more than 175 million users, theMX Playerlaunched a video streaming service last year to support its app not just as a video repository, but as a messenger and producer service. It has commissioned several original series to follow. In recent months, MX Player has also integrated Gaana, the largest local music streaming app, and plans to add mini-games to increase its appeal and attractiveness.

If the realization of a unified platform on "Diversification of related products", on an app that has amassed tens of millions of usersExplore Series FeaturesIt is purely an imitation of Chinese Internet companies, and then a wide range of products that are transmuted according to the needs of local users.Horizontal and vertical super-application formsIt would have to be attributed to the deductive creation of Indian startups.

Indian entrepreneurs are the sharper ones in exploring the series features, their products are more adapted to the country's situation and the objective needs of the users to realize theLocalization of "Super Apps".. Apps with 150 million active users in IndiaPhonePeIt has accumulated enough users with its core industry payment business and is aggressively expanding its mini-applications. These include the ride-sharing service Ola, the hotel booking service Oyo and the travel booking service MakeMyTrip service.

The meaning of "super apps" is being defined, interpreted and expanded in a new form in India.

Capitalizing on the Market: A Supermarket in the Eyes of Industry Giants

The industry giants, in addition to providing successful business cases, alsoActively involved in the white heat of the super-app market shape. "Go India!" It has long been the investment mantra of internationally renowned $10 billion private equity funds, while public sector funds have been laying the groundwork even a little earlier.In FY2018-19, Indian capital market funding momentum was positively positive, with nearly Rs 90,000 crore raised through bond and equity issuance, a growth of 5.31 TP3 T. Returns on capital were higher than 151 TP3 T, well ahead of the UK and the US. The value of the deals has grown five-fold in the last 10 years to reach $3.4 billion by 2017, the report said. A new report released in 2018 by Bain & Company and the Indian Private Equity and Venture Capital Association (IVCA) shows that investment in the Indian market has grown five-fold in the last 10 years to reach $3.4 billion by 2017.

Huge demographic dividend, huge potential market, very high yield return rate attracted all kinds of capital gold rush in India.

put money into (the market)In 2018, the number of VCs investing in India has increased from 157 in 2013 to 1.5 million in 2018, and has become a major force in shaping the Indian "super app" market. India's exciting incremental market, domestic successes, the right VC opportunities and experienced talent have attracted a significant inflow of VC funding, with the number of VCs investing in India increasing to 270 in 2018, up from 157 in 2013.

Investing and Financing Deals in IndiaFrom a quantitative to a qualitative focusdriven by super-apps under the "Entrepreneurial ecosystem"It will be the best selling point to attract new venture capitalists.

Huge amounts of venture capital are like an invisible hand driving the birth of "super apps". Microsoft's venture capital firm in India, set up in '19, will be led by former Qualcomm colleague Nagraj Kashyap. The venture capital organization will focus on Series A and B rounds of funding in areas such as infrastructure, artificial intelligence, and machine learning to help Indian startups build their business empires.

 Why "super apps" are born: for big profits

Why bother with product diversification in apps?Vijay Shekhar Sharma, founder and CEO of Paytm, said in a public interview that if your app offers a certain number of transactions (or engagements) in a day, then you could very well break a lot of businesses that have reduced transaction volumes. The company continues to break ground in India's sizzling mobile app market. "Payments are the moat. You can offer a range of things including content, entertainment, lifestyle, commerce and financial services," he says, "Now that's a business model."

A hot market is never short of smart competitors and hot-blooded speculators, and "super apps" in the face of huge market interest, are in theA profit-seeking product of a fixed user baseThe desire for "traffic realization" is the main driving force behind the formation of super apps. Huge daily activity can't respond to investors' questions, and the gratifying interaction volume can't bring constant wealth; the desire to "cash in on traffic" is the main driving force behind the formation of super apps. The desire to realize traffic is the main driving force behind the formation of super apps. The only things that can generate commercial returns are paid services, marketing and advertising, and e-commerce. Super apps are not about expanding functionality, they are aboutSources of ProfitThe

Another purpose of the super app is toImprove user stickiness. In the increasingly competitive software market, by leveraging user-generated data from multi-functional applications, service providers can gain a deeper understanding of their users' daily behaviors and deploy this information to iterate on new products and services, thus better catering to market trends and always standing on top of the wind.

Anthony Tan, co-founder and CEO of Grad, said, "It's so exciting. We're seeing the price of smartphones and data come down, we're seeing the democratization of technology. We're seeing a world where millennials are on the rise and they want everything now and they want it right away."

Obviously.It's not that Indian mobile software companies chose SuperApps, but SuperApps chose the rapidly emerging Indian mobile app market.

 The mega-app revolution in India is still in its early stages, but as India enters the next phase of the Internet, this trend will continue to expand and evolve, revealing even more exciting and varied business forms.

As the next "super application" market, what kind of technology and business model innovation revolution will India set off? We shall see.