Rohan Verma, CEO & MD, MapmyIndia, says “the Mappls app is totally free. We of course have a healthy B2B and B2B2C business to automotive OEMs, corporates, government, tech players, etc. Overall, the company’s in a strong financial position and we are able to offer a free solution that gives to consumers what they want and it complements our paid solutions business.”
I have been speaking to some common friends who are big investors in your company. They are of the view that MapMyIndia is at a multi-year cusp of exponential growth. What has changed in the last six months that markets are deriving this kind of confidence?
Probably we are a new type of company; we are a deep tech product and platforms digital map-based company and it probably took a little bit of time for both the markets to understand as well as for us to explain what are the different use cases and growth vectors for the company.
In June, we did the Analyst and Investor Day where we tried to go into detail of and we have put that on the stock exchange as well as to what are the different use cases, what is the revenue model for different-different sectors, automotive, mobility, corporates, enterprises and really, the other thing that has come to bear in this last few months especially how the consumer app of MapMyIndia, the Mappls app, has taken off as consumers now are getting to know how much better our maps are from a feature capability, technology capability and also hyper localness.
A combination of those