The Magic of 100 rupees
100rupis.com is an online marketplace for everyone to buy and sell products and services for just 100 rupees.
What is 100 rupees' worth in someone's daily life? For a rich person it is some change, for a poor guy it is more than half day's wage. A survey conducted by National Sample Survey Office (NSSO) in 2013 shows average per capita income in India per month is about Rs.1,430 in rural areas and Rs.2,630 in urban areas. What does this imply? That India is a poor country or that Indians have a pathetic lifestyle. To be honest people in India are happy and living their lives on this meager amounts. They are more worried about the fact that their employment is uncertain.
In the midst of this, there are several startups that have emerged in the recent past that help hundreds of poor people through micro-financing and donations. Businesses, small and big have a major role to play in the economy's alleviation. Young entrepreneurs know this very well and many IITians, IIMs, Non- IITians and Non- IIMs have started companies that work for poor people, unemployed people and the underprivileged. 100rupis.com is one such startup based in Pune, Maharashtra. What this company does is- brings buyers and sellers together. These buyers and sellers are people who have very little money, are from lower middle class or poor sections of the society. The site www.100rupis.com shows some services and products that common people can do.
The concept actually makes sense because there are various categories of skills one may have and this platform brings their skills to the table and helps them make a living.
Examples of services on the website show: Logo design, article writing, speech writing, blog posts, resume update, proof reading, data entry, presentations, animation videos, webpage testing, virtual assistant work, content management- listing or filling in product details online, graphic designs, marketing strategy, indigenous farm techniques, etc; and examples of products show: Home-made chocolates, Hand-made jewelry, Handicrafts, creative and decorative articles, incense sticks, candles, papad, etc
Students, Housewives, rural artisans, folk singers, knowledgeable farmers, retired experts and many more can sell their services for just Rs.100. The Founder says, "Sellers need to focus on quality and volume on our site. Buyers are definitely profited because they get great value for just Rs.100."
The company takes a Rs.10 cut from every transaction. Seller makes an average of Rs.80- Rs.85 after all the payment gateway charges and company's cut. This is a very simple concept: sell and buy for just 100 rupees. There could be multiples of 100s if the service demands more time and effort.
They are bridging the gap between freelancers, unemployed people, and the businesses- small and big. They are creating an online marketplace for people, who are looking for part time work, or people who want to make extra money other than their full time jobs or housewives who have time to get creative. They are creating a market for students fresh out of college and students who are still in college, to build their portfolios and reputation. They are creating a market for people who have skills/ talents that can earn them money from the comfort of their homes. This is a marketplace for rural people who make several different hand-made articles and are looking for buyers. They are building a platform for buyers to get quality products and services at affordable prices. They are building this site for startups who can hire freelancers at bare minimum cost. The site is very basic in looks and appeal but functional.
The founder says, "The Magic of hundred rupees is when sellers get hundreds of buyers every month. Our focus is that, we want more buyers and it is not difficult to ask people to buy services or products for 100 rupees. Buyers now have a chance to buy things that they thought were expensive. The online reputation that we build for the sellers makes a big difference in their other jobs too. It makes them look great, not just average skilled person. They are proud of their talent now!"
Time will only decide if the magic of 100 rupees will bring smiles on the millions of faces that this company promises to.
100rupis.com is an online marketplace for everyone to buy and sell products and services for just 100 rupees. Example services: Logo design, article writing, speech, blog posts, resume update, proof reading, data entry, presentations, animation videos, we
Oct 16, 2014