Death of a startup: the Founder of “Foursquare for events,” RiotVine about the main lessons of the failed project

RiotVine is the service through which users can learn about the events that take place in a particular city. The startup was called “Foursquare for events,”. In 2010, a year after launch, the project was forced to close down. “I am very grateful to all people who sought and shared information with RiotVine. Unfortunately, we are unable to engage enough users and cant continue working on further,” says the founder of a startup.

Hemrajani identified several key lessons that he has learned from launching your own startup. “Answer the question honestly, says the founder, RiotVine. — If you think that people need to know about your product from their friends, using social networks or media, you need to dig deeper”.

Press, says Hemrajani ensure attention to the product three hours. Product promotion in social networks takes time, in which the founder could develop its service. Word of mouth is a good method, but the team needs to ensure that there is strong interest in the product. A good example of service, which forced users to talk about themselves, says Kabir, Hemrajani is Fousquare. “Office”, which were later transferred to the new app Swarm, provided the service discussion in the circles of people they know, and such discussions were not limited to one sentence.

Someone from the company noted that it is the “mayor” of a particular institution. Then someone else immediately asked what it meant, and how he can become “mayor” of a place. Started the discussion: — What can I do to become “mayor”?
— You can make it, I cecinella here more times than you.
— What does “the mayor”?
.. “Compare this with the discussion of competing service Gowalla launched at the same time.

“I just swapped the sticker with the bike on the sticker with a six-pack of canned beer. What. Yes, Im still a virgin”,” writes the founder, RiotVine. He invites the creators to add in their products there is such functionality, it would be interesting to discuss with friends and about which I would like to tell. “You need to figure out what you build because how you interact with all of these things and the methods of making money are very different,” says founder, RiotVine.

If the team believes that developing all of the above, notes Hemrajani, most likely, startups have problems. Viral loop — a term that describes the behavior of users when the existing traffic is helping to build a new. This may occur, for example, due to the fact that existing customers are invited to try the service to friends, relatives and acquaintances — and those, in turn, recommend it to your friends. The founder of a startup, says Kabir, Hemrajani should understand how it will work viral loop in his service and at the expense of what will come new traffic and new users. If he is not aware, hes likely to stop and more time to reflect on how to create this loop.

These properties make people share content online. “Why do you think YouTube became so popular product. You see movies that surprise you and evoke certain emotions — and immediately share them with friends. Video is the best way to achieve both goals”. “Functionality, design, usability — all of these things are also important, but think about why you are using the most popular services and applications” — calls the founder, RiotVine.

“How often do you seek, what would you do tonight. Once a month. It is not enough to generate reasonable amount of traffic to our project. In addition, we have many competitors, including, in particular, and social networks — they are used by millions of people,” says Kabir, Hemrajani.

Events, he notes, is a terrible content for a resource. If the user knows about some event, he will be able to find where it is. If hes aimlessly looking for a place to go, most of the events it is not interested. Events limited in time, and information about past events is not useful — hence the problems with SEO. I still think that to create an interesting product for those looking for events — real and achievable task.

But wed need a few months to execute my plans. We had no more money and no business model.

Source: google.co.uk/blog/2-types-software-development-contracts-infographics/

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