Kunal Shah on Building Cred for the future [Exclusive Interview]
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- Опубликовано: 11 июл 2024
- In a rare interview and one of the first interviews, Cred founder Kunal Shah talks about building Cred, why he decided to not talk about building for the next 500 million, but for the top 60 million, the philosophy behind Cred, and a range of topics from the maturing Indian startup ecosystem to the Indian economy to his idea of building an engaged community of high-trust individuals.
Follow Shradha Sharma on
Twitter - / sharmashradha
Linkedin - / sharmashradha
0:00 Intro
0:20 Embark Cred
4:05 The idea of making Cred
6:45 Sustaining trust
8:33 Regulating revenue
11:36 Building community
12:28 Time taken to ponder ideas
15:02 Credibility and media set-up
18:37 Learning and benefits through the journey
20:00 Building Cred team
21:52 Company growth
24:48 Rapid fire with Kunal Shah
ABOUT SHRADHA SHARMA:
Shradha Sharma is the Founder & CEO of YourStory. She started YourStory in 2008 to tell stories of entrepreneurs - something that mainstream media was not ready to do in 2008. Since then, Shradha has scaled YourStory to become one of India’s leading digital media platforms covering every aspect of India’s new economy.
She was featured on Fortune’s list of the best 40 under 40 entrepreneurs in India for three years in a row. In 2018, she won the Forbes Power Trailblazers award and was twice featured on LinkedIn’s list of powerful influencers, along with Prime Minister Narendra Modi and actor Priyanka Chopra.
Follow Shradha on LinkedIn here: / sharmashradha
ABOUT YOURSTORY:
YourStory is India’s biggest and definitive platform for startups and entrepreneurs related stories, resources, research reports, and analyses of the startup eco-system, mobile app developers, and more dedicated to promoting the startup ecosystem
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Follow YourStory on
Twitter: / yourstoryco
Instagram: / yourstory_com
Linkedin: / yourstory-com
#kunalshah #cred #yourstory
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One of the best ‘no show off’ conversation. The host also needs to be appreciated for asking simple and sensible questions .
What is the name of the hostess?
PALLAB BISWAS shradha sharma , founder of yourstory , she is quite passionate about startups
@@pallabbiswas947 she is the founder of Your Story startup
The ability to ask dumb questions is a Superpower. -Kunal Shah
Petty questions that sound dumb are often important.
When every question is explained with an example..you understand the worth of that person 🔥
Lol kabir das was idiot according to u
These types of people should be considered as heroes there are lots of positive things to be taken from him. Sadly we grew up watching bolllywood. this type of content should be must for school and college going students.
Exactly...🙏
1 year later cred is an IPL sponsor and has roped Anil Kapoor as Brand Ambassador...Kunal has delivered what he promised....
If roping in Anil Kapoor means delivering value, then we need to rethink what a business means :)
Cred has probably created a high trust network of individuals, though they haven't shared any data with the public that proves so.
However, they have yet to figure out a way to make money from that network. Currently, they generate interest revenue by accepting your CC payments and paying to the bank a couple of days later.
I'm not sure they even have a business model as yet. Kunal has done a great job in selling an idea to VCs. How that idea translates to money, or to value to shareholders is yet to be seen.
@@imtotallyseriously yeah, That's basically a platform model drives utility using customer base and selling that info to supplier i.e. merchants in this case. As he said he needs to attain a critical transactional mass and then can pivot the product to anything he desires. I'm curious to what he has promised the VC's on the product vision is, until then he is burning money.
But delivering profit is also key point.
Is CRED profitable now ?
@@bhavikthakar8241 Probably not
This is why young founders love YourStory. Interviewed him just at this crucial time to understand his mindset.
Frankly, I love the way shradhha goes on asking her questions.. Extremely inquisitive, yet simple way to ask... It is difficult for person answering, avoiding her questions... Love the way, she is building her company, hope to meet her in person in this lifetime. 🙏🏻
What a guy he is! Such business proficiency with acute acumen is rare to find. He candidly answered all questions with real examples. One of the best business talks I have seen so far. Hope he takes care of his health too
Such great clarity of thoughts! A man to be followed
The way he comes out with examples so spontaneously is amazing, helps rookies like me to understand what he is talking about. Great guy!
ruclips.net/video/bTPfTBI87Yw/видео.html
Kunal Shah short video
Foolish people like you only use his foolish apps which creates no value for humans
My biggest takeaways from the video-
Wealth is not a zero sum game, wealth is expanding.
Building a community is the way to go.
Thanks kunal sir, keep creating and inspiring.....
The only interview where I understood both questions and answers ;)
Download from below link and get 250rs CB make your credit card bill payment on CRED and earn exclusive rewards from Uber, Amazon, Flipkart, and more. it pays to be good
cred.onelink.me/spQx/2c9a7b16
Absolutely!
I watched his podcast on beerbiceps and became fan of this person, continuously watching his interview and lectures for last 3 or 4 days on RUclips. Really, he is very intellectual person.
Same :)
In the process of the same :)
same :)
Same bro
Loved him identifying himself to be a learner rather than thinking himself to be extra-ordinary
*_let's just do a simple voiceover like "download Cred"_*
😂😂👌
I didn't like that ad tbh.. it's too obnoxious.
facebook.com/potterswheelmedia/photos/a.133036573916377/778236606063034/ the best digital marketing agency
'Happiness is a Flawed Concept" - Kunal Shah 25:10
One of the few interviews that I really enjoyed - so many of the points resonated within me AND I learnt quite a bit as well. I think I'll have to watch this at least once more. Thank you Shradha.
Blunt # Futuristic # and Very Open Loved the Interview!! Hope to see Cred Grow and learn more from Kunal!!
And I Believe it's time the younger generation should Change /Shift their focus to derive inspiration from Actors Sport's Personality and Preaching Sages.. to Idealistic Business Man who really wanna to see India grow and that too in Reality and not Virtually.. 👍 a Big Thumbs up!!;
Kunal Shah is going to make it to a UNICORN club soon!
#creduser
Stop using this shit... you will be scammed
@@bhaskarvarma99 Why?
Ya with billion of losses 8 am sure they will beat all other " startups"
He did work 2.2bn valuation
@@SaiAnanth My prediction went true...
Very good insights, this is a must watch for all start up Entrepreneurs.
Kunal Shah comes across as a intelligent, humorous, philosophical, trusty worthy person! Shraddha Sharma , as usual, is at her very best👍👍
Thoroughly enjoyed this. My best new channel on RUclips. Loved how Kunal mixes and sprinkles a few Hindi words while speaking in English.
Amazing & Inspiring... Simply Superb
Mindblown by Kunal. Sucha down-to-earth and intelligent guy. Plus , I just discovered this channel , and it's been giving out such great content so far.
Now, i understood what for cred is evolved..
CRED stands for Credibility...All the best kunal. Hatsoff to you to your aspirations.
He's applying the 80-20 Pareto Principle.
peter thiel, power law
Yeah!!
What's that can someone explain me
A great interview..he is thinking long term and will eventually pull out India of the old norms and the stagnant economy. You dont need to generalize a product for everyone. Make the product desirable and showcase it's benefits and inspire people to work hard
In india not possible.
thanks for the amazing insightful video YourStory team.
simple to the point conversation. I will now check CRED, just because i appreciate this straight clean interview.
Amazing idea and clarity by Kunal. It was a much needed video which gives insight into the genesis of Cred else it was being perceived as just another freecharge app in the area of credit cards payment.
ma'am thanks for bringing him to yourstory
we need this man again on yourstory to know about their insights and how kunal sir think
Ma'am as you said "kunal sir is really a champion for non-coding entrepreneurs"
*"The ability to ask dumb questions, I think is a super power"*
lmaooo
One of THE BEST interviews I’ve ever seen!!
Each and every second was amazingg!
Such simple, insightful, humble and powerful perspectives
Loved that... fasal nahi banti muscle baan jate hai.. business muscles..👍
Very fascinating interview
Keep following him and you will be at the top.
Probably this is the only interview that was so simple & easy to understand.
Worth Watching......So nice and clarity, authenticity
Great ideas shared by this talk show!!!amazing
25:11 This is the moment he proved he is not just an Entrepreneur but a Philosopher. Great explanation.👏🏻
Kunal Sir is an institution altogether. Awesome 🙏
One of the best interview I have seen in RUclips.
Same here
He is sooo inspiring 🤩
you are really inspiring without tech background you are in tech thats great great sir we always learn a lot from you when ever we listen you be it on facebook , twitter or youtube
Reward structure needs to be improved.
Amazon,flipkart vouchers is needed.
Recharge and bill payment coupons would be great.
Interestingly there is no other app like CRED as of now.
Probably we may see something else?
Lets see how it goes.
agree.. cred coins aren't much useful as of now....lets see
So cred sells/uses our transaction data to earn money from other companies to whom that data is helpful. Right?
Their reward program is not good as of now .
They did not improve it either.
They should allow to buy the cashback coupons by using the reward points.
he seems crystal clear where he is going, one of best interviews I have seen
Amazing knowledge this guy has! Superb conversation. Kudos to Shradha Sharma too.
Loved the conversation of this person.
Simply amazing! Good Interview! 👌
Kunal sir 🙏🙏🙏thanks a lot for cred.. Really happy... Specially cred cash... It's amazing
I’m watching this today and hoping to see another interview
Kunal Shah talks straight to the business! Fundamentals.
No shit. ✔️
Recommended watch: Find your pot of Gold
Loved the conversation.very inspiring
Learn new ideas and brilliant thoughts kunal.
Kudos to Shradha
I am using cred from last 4 months. It is wonderful, I used to pay credit card bill by doing login to SBI bank and wait patiently to do full transactions, using Cred I save my time and it gives reminders and as I promote it I get points too. Same like MLM companies such as Vestige etc.
Kudos to Shradhha n Kunal. What an interview.
Very nice hearing to Kunal, loved the humility and the homework concentrate!
That last part was a fire. I am now loving this guy. Going to learn much from him.
The idea/narrative/perspective is quite moving. 😍
Amazing perspective! Every statement is backed by real life example. It proves he isn't just blabbering fancy english words. Lot to learn from him
This is one of the videos where i feel one like button is injustice by utube. 👏👏👍
Great interview, just that happiness is not a flawed concept. Happiness is an emotion, which mostly comes from within.
Thank you so much kunal sir for this motivation video
Every TIME we listen to him is
Most enriching experience.
One of the best interview I came across, So much to learn from this man👍
What a brilliant concept . It's genius.
Very Informative, All the best Kunal:)
I love the perception of this guy. Good Going. Greeting from Kathmandu
Informative, this guy is trying to build business by understanding the nerves of Indian Customer and their mind set. This business model has great potential as by privileging the people those who are following the rules and laws strictly and this data will be used by every business to provide best services to people's belong this community.
He is looking so different. I did not recognise him though had met him thrice in 2014~15
Excellent video Kunal Shah sir 👍 always inspiration
Great interview... First time seeing you both the guests and host. First time in love with both definitely No Show off - Everything is Cream of all.
He has such profound understanding of simple concepts
Downloaded cred just after interview. It was so impressive.
Kunal shah is a legend
Tru tho 😊
Cred needs to work on their cashback by burning the cred coins. it's kind of scam, what they got.
its literally is, initially each and every fintech co. gave discounts until everyone gets used to it, then the best thing they`ll show is the cute lil middlefinger, everyone knws this, just like jio they want every middleclass people to used to something first because this middleclass spends they won`t go back, 199,299,399....... you spend they prosper and pregress
One of the best interview. Very informative about entrepreneuship.
Very nice interview, really Kunal shaw is an authentic person.
@YourStory...Many Thanks for hosting the Interview.
Kudos to Kunal Shah🙌
Blew my mind with how he explained happiness is flawed concept. Kunal is damn sharp🙏🏼
Really appreciating interview 🥰🥰
Trust issue in deposit on rent is bang on.Glad some entrepreneur are thinking in that direction.
Really extraordinary interview great thoughts
Lovely chat! You should do more of these Shradha. I wanted to check out the app/website though I don't use a credit card.
That’s totally a different point of view & Im proud to be Cred customer.
Great insights. Definitely inspiring.
Replace the word “high trust” with “high net worth” - because that’s what CRED essentially is. It’s an app literally gated by credit score and bank balance
Talk about euphemisms!
Much underrated comment!
Great point, I'm guessing from my vantage point here, that he is following the Tesla/Uber model: Start with premium customers then build portfolios for mid to low tier segments. Generate good numbers for the initial product then build for mass market.
Good to see this comment. While watching the video, whenever Shah said "high trust individuals", I said to myself, "high value individuals".
Still it’s a good idea to build upon, and eventually once a working model develops, he can be the bring the masses.
I beg to differ ragavendra, Doesn't that mean If person have high credit score and good bank balance ; you can trust that community financially. You can make any financial transactions where trust is the issue. Like he said renting house, doing buisness, sharing ideas
Kunal keeps it simple. Nice interview.
Love this....conversation
Kunal has made some really great points here which would help a lot to so many people. Thanks Shradha a ton.
Superb show.. 😄 Gentleman Interviews. N ofcourse hope is a drug
Amazing host and candid Kunal
_So to be honest first I thought he founded Snapdeal, than I came to know that he actually founded Freecharge (which btw I still use) and then watching this interview made me respect this guy even more. His opinions will now hold a high regard for me. Thanks for this insightful Interview YourStrory team_ 🙌🙌
Kunal....grounded...humble....substance and knowledge insights 👌👌👌
Crisp and amazing interview 👍
Positive mind and progressive, thoughtful
A very crisp and informative interview
One of my favourite interview
Great talk! Thanks Your Story, Loved it!
P.S. Kunal can reach to any/most people he want because he can. But a common man can't do so. It would be a zero sum game when meeting a common/ rather unfamous person but not when meeting him.
Pure insights of business ❤
We learn from expensive mistakes. He learnt from his mistakes building freecharge for the mass market with DAU and MAU. But someone else paid for that mistake. When to exit a venture is also a skill and Kunal knows that.
@blisteringheightsofstupidity Daily Active Users and Monthly Active Users
Who paid for it?? It was an all cash deal and employees cashed out esops and worked under snapdeal?
Interesting n informative