Passion Connect: Turning Passion Into Profit
In February 2017, the co-founders of Passion Connect were considering potential monetization strategies for their company. Passion Connect was an online platform based in Bangalore, India, that helped people identify, nurture, and live their passions. The company provided users with curated content, events, and connections related to their passions—from painting and music to travel and food. Passion Connect aimed to raise a Series A round of venture capital financing by the end of 2017. The co-founders had to find an effective monetization strategy before approaching potential investors. They had to consider both qualitative and quantitative outcomes for each strategy, the fit with the business’s goals, and the impact on profitability, feasibility, and user experience.
Collection: Ivey Business School (Canada)
Ref: IVEY-9B18M027-E
Format: PDF
Number of pages: 10
Publication Date: Feb 28, 2018
Language: English
Review date: Feb 28, 2018
What material is included in this case:
Description
In February 2017, the co-founders of Passion Connect were considering potential monetization strategies for their company. Passion Connect was an online platform based in Bangalore, India, that helped people identify, nurture, and live their passions. The company provided users with curated content, events, and connections related to their passions—from painting and music to travel and food. Passion Connect aimed to raise a Series A round of venture capital financing by the end of 2017. The co-founders had to find an effective monetization strategy before approaching potential investors. They had to consider both qualitative and quantitative outcomes for each strategy, the fit with the business’s goals, and the impact on profitability, feasibility, and user experience.
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Year: 2017
Geographic Setting: India
Industry Setting: Information, Media & Telecommunications;
Learning Objective
This case is suitable for undergraduate or MBA courses in entrepreneurship, specifically those focused on consumer technology, startups, or international entrepreneurship. After completion of this case, students will be able to: ·examine venture capital financing from the perspective of a consumer-facing startup in a developing economy; ·address the need for early-stage startups to develop a monetization strategy and begin generating revenue; ·assess several popular monetization strategies used by internet companies; ·develop a set of criteria to evaluate potential monetization strategies while balancing the desires of stakeholders, including investors, users, and founders; ·creatively generate ideas for alternative monetization strategies; and ·develop an implementation plan for one of the monetization strategies discussed in the case.
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