This time we bring to you, Adloid. We interviewed Kanav Singla (Co-Founder Adloid), a fourth year Civil Engg. student. The other co-Founder being Shubham Gupta, a final year dual degree Chemical Engg. student.
What is Adloid?
The idea was conceived in December 2013. It is a targeted advertising platform to help marketers reach out to their target audience. Adloid has its roots in (Advertisment+Tabloid), and was previously known by the name Banana Notebooks. As Kanav puts it, ‘Notebooks have the longest shelf-life in print media and thus, they provide the best platform to target the age group of 12-25yrs. This age group is the most targeted group by marketing firms but still they are not able to reach it because of their orthodox methods and unstructured approach like news, flyers and even online media.’
Adloid has solved this problem by creating a win-win situation for both students and the companies who seek advertising platforms for their products. The advertisements serve the purpose of reducing the cost of notebooks, thus making it popular among students and the firms are happy that they have introduced their product to the target group.
Notice the front cover of any notebook that you have bought from SCOOPS recently, surprised?
What makes them tick?
Till date Adloid has sold 6 lakh+ notebooks in 7 states, generating a revenue of 43 lakh rupees, i.e. they have covered almost whole of North India. Also, this initiative has made the stationary more affordable for students. The team is composed of 12 people, out of which 5 are from IIT. Adloid is among the top 100 startups from India that are incubated at Haygroup (A US based company).
When asked about his views on deferred placement policy, Kanav opines that it is indeed a great effort from IIT’s administration and that it provides security and promise to parents and that they both have opted for it. Also, the mentors and FITT have been a great support.
Adloid has hired interns in the past and will continue the trend in future. They hire tech and marketing profile interns. While there is a basic stipend given to marketing interns, an extra amount is also given according to number of clients converted. Tech interns are paid according to their work and a lot depends upon performance.
The Way Ahead
Apart from notebooks, Adloid has plans to expand its business to online platforms and cover the whole of India. Their USP is the augmented reality technology that they are going to introduce shortly. This technology gives the consumer a whole new experience about the product and testing for the same has been done. It will be like experiencing a seemingly dead and plain advertisement come alive in your smartphone screen.