Targetting niche audiences and achieving scale at the same time is never an easy business model to crack. Hyperlocal social networking apps that have mushroomed all over the country are beginning to figure this out.
These apps target similar interest communities, giving them a platform to meet like-minded people, explore events, etc, thereby changing the way people socialise and network professionally. Whether one talks of Bumble Bizz, MeetUp, BlueTie, UActiv, Sofar Sounds or Betterhalf.ai, there always seems room for more social networking apps in the marketplace. But these players have barely scratched the surface in terms of monetisation.
Read the full article on Financial Express.