Kula - India's 1st P2P sharing platform
Kula is a P2P products sharing platform.
It enables people to earn by building their own marketplace to share their belongings, skills, and creations with the community.
During India's initial COVID wave, we constructed a reciprocal rental service focusing on health and disaster relief items such as Oxygen units, Concentrators, Bi-PAP, and so on, encouraging communal sharing and generating income possibilities. Subsequently, we redirected our service towards product sharing and launched our platform in Bengaluru.
Problem
As the founder of Kula, We navigated the complexities of initiating and building a peer-to-peer rental platform from scratch during the times of COVID. While Building kula my hats included
User Adopted in 2 weeks
1200
Products rented
100+
Positive feedback
68%
Project scope
Features and Functionality
Why we failed?
While Kula showcased several positive aspects, it encountered challenges that contributed to its eventual closure.
Limited Distributions: We learned that without building strong distributions we cannot scale the product from 0-1.
Geographic Limitations: Initial adoption was constrained to a specific area, presenting challenges in expanding the user base.
Economic Impact of COVID: The broader economic impact affected consumer behavior and participation in sharing economies.
Scaling Challenges: Difficulties in scaling the platform beyond the initial target area posed hurdles for sustainable growth.
Pricing and Unit economics: It went difficult to manage devices and how someone is using the device, after that it is tough to detect the issue after any usage.
Lessons Learned
In-Depth Market Research: The importance of thorough market research in informing product development and market strategy.
Agile Adaptability: The necessity of being agile in response to market dynamics and adjusting strategies accordingly.
Community-Centric Approach: Recognized the significance of building a strong community foundation for the success of a peer-to-peer platform.
Conclusion
My tenure at Kula amplified my tactical planning, team leadership, and capacity to address issues in product creation. Eager to apply these learnings towards product administration, conceptualization, and product construction approaches, I am excited to utilize this knowledge in an innovative and vibrant setting.
