Updated: Oct 7, 2020
To answer that question we need to look to China and see how Chinese social media companies have created business opportunity nationally as well as international dominance. The table below will help build a perspective.
Whatsapp is another such story that had built a user base that was a clear threat to FB. Which is why Fb felt compelled to acquire them.
So if Chinese companies can do this and a messaging app can do this why not Indian companies.
The solution actually boils down to 3 basic rules.
a. Can you think of ideas that would disrupt how people use Social media and what would they really need it for?
b. Can you pick up a big fight that will have billions of users ?
c. Can you create a large sticky community that logs in to your platform at least once a day?
All you have to think about how many times you log in to WhatsApp in a day. That is the kind of usage you have to drive for. Are there business opportunities existing in India that are waiting to be explored? For sure. We must keep an eye on what Reliance is doing with 5G and phone manufacture as well as Reliance Retail to identify huge opportunities that exist in yet unexplored rural and semi-urban India that will explode for sure in the next 5 years. Also agricultural and labor law reforms are going to create huge opportunities.
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