How about a deal, the more you play a game to more discounts you get. Sounds too good to be true right, this team of six has turned this into a reality. Founded just eight weeks ago in Mumbai, Frapee is a first of its kind mobile gaming aggregator in the Indian market, that enables users to earn discounts/cashbacks while playing games. They provide points or ‘Frapees’ to users for winning on these games (at no costs whatsoever to the user), which can be redeemed against free coupons or exciting discounts of 100+ e-commerce and retail brands they have collaborated with.
The team comprises of six people, for most of them, this is not their maiden startup venture. Aditya Sharma, Vedang Patel and Rohin Samtaney have also been the co- founders of The Souled Store, all three of them have a Bachelors of Engineering degree from Mumbai University. Siddharth Shah is the founder of the SP Shah Consultants (UAE), and has a MBA from Wharton and a Bachelors of Technology from IIT-Bombay. Gautam Udani is also a founder at Infini Systems Pvt. Ltd. and has done his Master in Information Systems from N.J.I.T..Yuvek Mehta is an Analyst, Microsoft technologies Redmond, and also has a Bachelors of Engineering degree from Mumbai University.
To put it simply, it is just about- More Gaming, More Earning, and More Shopping. While talking to us about their startup, they said:
“Frapee is helping the game developers monetize their products and the users to achieve tangible benefits in their leisure time. We are the only mobile gaming aggregator in India, which is integrating niche, existing games in the market onto one platform.”
Their concept offers a strategic advantage to game developers of monetizing their games due to reduced marketing costs through economies of scale, direct access to the right demographic market segment (age : 17 – 30 years), and social media sharing of these games through their platform.
For the users, they provide tangible incentives of brands (at no cost) in return for playing games, an activity which they enjoy. Adding on to the how they have an upper edge than other brands, they said:
“In comparison, competitors that offer brand incentives (eg. Niffler, Zomato) require users to engage in brand promotional activities in some form (eg. surveys, posting product images etc.). Thus, as a platform, we are far more engaging to the users than our competitors. “
The marketing efforts are primarily done by Frapee for all the games and brands, and as such, there is no cost to the brands, games or the users in this shared aggregator model. In just 8 weeks time, since its inception, the app has more than 1000 downloads without any marketing efforts. The platform has tie-ups with 90 brands with 400+ discounts or free coupons. The number of games available on the app have gone up from 2 to 10 in just two months.
The startup aims to achieve 100 games, 50,000 active users and 300 brands by the end of 2016. Conceptually, they want to create this culture, where everytime someone thinks about shopping online or playing games, they first think of using Frapee to meet their needs. In the long-term, Frapee wants to become a global gaming aggregator to capture other markets like UAE, Russia and USA.
While you read how a simple idea like this one can be turned into a business opportunity, I am going to get my self some ‘Frapees’ !