Hi ! My name is Spini
Spini (www.getspini.com) is an online platform is the world’s first referral platform which connects buyers and sellers through referrals. In brief, all the three parties involved
- The one who refers, gets an incentive demanded.
- The referred party gets benefited with actual need.
- The precised merchant benefited through contract for the referral.
What I really do
Users here can post their own needs or needs of their friends/colleagues in various categories like Real Estate rental/buying, interior decors, insurance, loans, wedding planners, wedding makeup, courses like Java, Oracle, Animation, GRE, GMAT etc. Thereby Spini helps people earn money with useful information they come across.
Birth story of Spini
Shankar was once handling sales operations and was able to sense how difficult it was for a salesperson to get a lead and close a sale. The eureka moment was when he discovered over a casual discussion that people have a lot of information that can help in sales. Simple information like to know who is the buyer/seller, insurance etc. are vital for sales people to reach out to the right customer rather than advertising through pamphlets at random people. But that information is highly used for gossiping. Strange right !! This search was turned beneficial through Spini.
The Team behind and their Designations
Shankar and Eddie became friends by interacting at start up events in Singapore. Both of them had similar views on sales and came up this idea. They started working on Spini together since then. Chong Kian, a mutual friend of both prepared the prototype of Spini. The core team includes
- Shankar G, Co-Founder & CEO has a decade industry experience.
- Eddie Chau, Co-Founder & Chairman is a successful serial entrepreneur & mentor.
- Chong Kian Soh, Co-Founder & CTO is an entrepreneur and a Stanford graduate.
- Arun, Head – Engineering. Also one of the close friends of Shankar.
Further recruitment for the core team was formed through LinkedIn contacts and referrals by following a robust screening procedure.
Revenue and Growth
At present they have a referrer pool of over 3 lakhs people and the revenue started picking traction over the last 6 months with a growth up to 5X rate over the last quarter. Sales conversion is over 70% with Spini, which is on-demand platform setting them apart from competitors.
Funding and Fund Raising
Initially Spini was funded by Walden International of Singapore with SGD 1 million in May 2015 towards product development and establishing in Indian market. They are now in a process of raising the second round of funding which shall be towards marketing and growth in India.
How to Spini
Simple ! If someone is looking for a product or service, you can simply input that as a lead on Spini app or website . Fee can be charged for the information you are providing as you are connecting the seller with a potential buyer. The customer support team calls you to verify the lead and publishes it on the platform. Salespersons who have registered and verified on Spini can now see the lead and offer to buy it. Once they buy the lead, the money is held by Spini for 3 days (giving time for a salesperson to raise complaints if any) and then transferred to you.
The Road never ends
Spini is now in 10 cities across India. They are planning to expand this all over the country soon and then replicate the model to expand in other South East Asian countries.