Photo credit: saiyood / 123RF.
A year ago, Vaibhav Magon’s colleague was looking for career related advice. Vaibhav introduced him to his dad, an engineer who has been practicing astrology for the past 25 years. Vaibhav says his father’s advice helped the friend focus better.
“Then I saw this opportunity to connect the seeker and the giver online. I myself was in need of advice at one time and didn’t want to go to my dad. I went to another astrologer, and it helped,” he adds.
These incidents culminated in the birth of astrology app Askmonk, which rolled out in July last year. 25-year-old Vaibhav, an engineer who has worked with companies like travel portal Goibibo and Tata Consultancy Services, India’s biggest IT company, set out to launch what he calls “astrology on the go.”
“We have no complications of appointments, personal meetings, or even Skyping. You just post a question, pay for it, and get answers,” Vaibhav says. In the six months since its launch, he claims Askmonk has 10,000 customers and 2,000 paid transactions, spread over 320 cities in India.
“Our customers are mostly young people aged between 18 to 35 years, though we help anyone who asks for it,” he adds.
Future trek
Askmonk’s Vaibhav (center) with teammates. Photo credit: Askmonk.
Astrology, and other kinds of divination has always been a flourishing business in India, with even stock market brokers looking at predictions for auspicious deal timings. Some estimate the total “religion and spirituality” industry to be worth US$40 billion, with astrology being an important part of it.
Little wonder then that the rise of startups have also seen the birth of a bunch of predictions-oriented apps and websites, like Astrospeak, and GaneshaSpeaks (which, to be fair, has been around since 2003). These are Askmonk’s rivals.
Vaibhav argues that Askmonk’s clean interface and ease of use makes it better than the others, some of which can be quite cumbersome to use.
“All our astrologers are selected after due diligence based on the number of years of experience, education, and their passion to pursue astrology as an enabler. It takes no more than 30 seconds to access one of our handpicked astrologers and know your stars and their effects on your life,” he says.
“Astrology is a science. And we are a tech startup. If we were not doing astrology, we could be selling headgear online,” Vaibhav says.
A techie’s plans
Screengrab from the Askmonk app.
On Askmonk, each question is a paid service, ranging from US$4 to US$15, depending on what you want to know about yourself. The company takes a commission from the astrologers on board, typically about 40 percent of each transaction.
On the app, customers can decide whether to pick an astrologer they like, or ask an open question on the board. If it’s an open question, Askmonk runs an algorithm to match an available astrologer with the customer. The algorithm checks for things like which age group the customer falls under, and what is the nature of the query (some astrologers are better at solving romantic dilemmas, while others claim work-related problems as their forte) before making a match.
Vaibhav launched Askmonk in his hometown of Ahmedabad, but now wants to expand to other cities. “We also want to be a lifecoach. We are planning to raise half a million to a million dollars in the next three months. Most of that money will go towards these expansions and marketing,” he says.
As of now, Askmonk is only an Android app, but the iOS version is in the works, he says. The startup is a five-person team, with about 15 astrologers working for them on commission run terms.
The team is made of three engineers. The astrologer’s panel is managed by Sunil Magon, an engineer from IIT Roorkee and an astrologer for the last 25 years. Vaibhav says this gives the team deep connections within the community of astrologers and are able to leverage that for the right match.
“Astrology has seen a tremendous advancement in recent years and is only growing with the advent of scientific tools and better understanding of people. In the coming years, it will expand to new horizons and adapt according to the new challenges of the 21st century. Askmonk wants to be the fulcrum in that change. We envision a future where astrology is as easy as getting a recharge on your phone,” Vaibhav says.
This post A techie launches an astrology startup for worried millennials appeared first on Tech in Asia.