PASSION CONNECT: TURNING PASSION INTO PROFIT Monique Tuin wrote this c

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PASSION CONNECT: TURNING PASSION INTO PROFIT Monique Tuin wrote this case under the supervision of Professor Dominic Lim solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. This publication may not be transmitted, photocopied, digitized, or otherwise reproduced in any form or by any means without the permission of the copyright holder. Reproduction of this material is not covered under authorization by any reproduction rights organization. To order copies or request permission to reproduce materials, contact Ivey Publishing, Ivey Business School, Western University, London, Ontario, Canada, N6G 0N1; (t) 519.661.3208; (e) cases@ivey.ca; www.iveycases.com. Copyright © 2018, Ivey Business School Foundation Version: 2018-02-28

In February 2017, Karthik Kittu met in Bangalore, India, with his co-founders, Abdul G Sait and Shubham Deva, to discuss possible monetization strategies for his start-up, Passion Connect. Passion Connect was a start-up that helped people discover and pursue their passions, through a platform of curated content, targeted experiences, and specific services to connect with mentors and other users who share their passions. The company was founded in August 2013, but the team needed to consider the companys current situation and was trying to raise a Series A round of financing by the end of 2017. However, with increasing pressures for returns by Indian venture capitalists, the co-founders needed a monetization strategy in place first. In its first few years, their company site had gained 40,000 registered users but had not made a return. While the business was operating on a lean model, further investments in sales and marketing were necessary to continue to grow the platform. The co-founders needed to know how Passion Connect could begin generating revenue, turn users into cash, and help others like themselves discover their passions. INDIAS START-UP SCENE With a population of 1.3 billion people1 and a projected gross domestic product growth rate of 7.2 per cent in 2017,2 India was attracting attention as the worlds fastest growing economy. The opportunity for technology start-ups was compounded by record-breaking growth in smartphone adoption (see Exhibit 1), in a market expected to have 730 million Internet users by 2020.3 Start-ups in India faced an increasingly favourable regulatory environment with Indian Prime Minister Narenda Modi preaching the importance of entrepreneurship and technological innovation. In 2016, the Startup India Action Plan was launched with the directive to œbuild a strong ecosystem for nurturing

1 œIndia Rising, PRB: Population Reference Bureau, December 2015, accessed July 16, 2017, www.prb.org/Multimedia/Infographics/2015/india-story-map.aspx. 2 œIndia Development Update: Unlocking Womens Potential, The World Bank, May 2017, accessed July 16, 2017, http://documents.worldbank.org/curated/en/107761495798437741/India-development-update-unlocking-women-s-potential. 3 œThe Future of Internet in India, Your Story: Nasscom, 2016, accessed July 15, 2017, www.communicationstoday.co.in/images/reports/20160820-nasscom-the-future-of-the-internet-in-india-19082016.pdf.

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