BACKCHAT
Founder : Daniel Singer
What is it about..?
Backchat helps recreate the authenticity of human
communication by using anonymity to remove the pressure and judgment from
traditional social media.
With the anonymity of Backchat you aren't pressured to
express your best self, you can truly express yourself as you are and really
open up to people and have conversations you wouldn't have otherwise. This
opens the door to amazing experiences and a new way to communicate. As they
say, "Sometimes your best friends, are complete strangers." Except with
Backchat you are limited to your network which helps craft relevant
conversations and content.
What Went Wrong..?
- Got Outcompeted
They were supposed to challenge all the existing companies
like Facebook, whatsapp etc., but were not able to. Though they got a very good
response in the begging and created excitement among the teenagers regarding
it. A Clue System was used to identify the anonymous person texting, which was
more of a fun. Everyone lived it, but the pleasure was short term only.
- Slow Adaptation
The Market holds a tough competition and to be able to stand
up till last, one must simply adapt according to the changes. Unfortunately
they were not able to adapt fast enough to changing market and product
conditions which quickly began to show in usage metrics.
- Ran out of Money
With a feed product on the horizon all looked well until our
funding began to dry up. Deals fell through leaving the founder in the
difficult position to close Backchat.
"In Business, Competition Bites you if you run, but if you become steady, it Swallows you." then what we have to do?
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