Growing Gradually, But Consistently
Beginning life in 2015 as an app that at first allowed users to create content by turning their selfies into caricature stickers and then came up with an Indic keyboard that let users personalise their communication in 22 Indian languages, Bobble AI has evolved into a holistic app that not only allows users to do all of these things but can also predict their actions using deep tech.
In addition to conversational commerce, the unique, exclusive and powerful first-party data possessed by Bobble by the virtue of functioning at the mobile OS layer gives an in-depth understanding of customers on smartphones. This data is used by the business partners to facilitate numerous use cases including lending, ecommerce, market intelligence, creating audience cohorts, etc.
Growth And Expansion
Talking about runaway growth, Ankit Prasad, Founder & CEO, Bobble AI says, “I think there is nothing called an overnight success. While multiple unicorns got created during the excessive liquidity flow in the Indian startup ecosystem, this is the time to prove that value creation is equally stronger.” After the growth of ecommerce and then social commerce, the ecosystem is looking forward to the extended sector of conversational commerce.
At Bobble AI it is estimated to be a USD 295 billion market globally by 2025. The revenues have grown 25x in the last two years and 10x in the last one year, while valuation has grown 5x in the last two years and 3x in the last one year.
In the short term, Bobble AI plans to continue to focus on core strengths including building user base and revenue from India and Indonesia markets, as well as consolidating some of other keyboard brands into the Bobble Keyboard brand. In the long term, the goal is to be present in every smartphone especially in those geographies which are known for their linguistic and cultural diversity.
On the business side, the company has started working with media agencies and large brands to deepen the relationship with them. “I personally believe that the tag of a unicorn or USD 1 billion valuation is vanity. I think it's time to look at the value creation, the impact on consumers' lives and sustainability and profitability of a venture,” says Prasad.
The Road Ahead
Prasad believes in realistic optimism. As an entrepreneur, while one is generally optimistic about the future and the success of one's business plan, it is essential that one must be equally analytical to assess the possible pitfalls and ensure survival and growth during the toughest of times. “Those startups which have been growing gradually but consistently and sustainably have higher chances of crossing the toughest times,” says Prasad by way of advice to budding entrepreneurs.
The latest achievement of the brand includes Bobble AI's NFT storefront, that was launched last month with the maiden campaign for the Kamasutra condom brand. The brand will continue to innovate for NFT/Metaverse opportunities.
