In India almost 2.2 million tickets are booked on a daily basis out of which 7.9 lakh tickets are in the waiting list. Getting a confirmed ticket is no less than winning a lottery.This problem drew the attention of Sripad and Dinesh and they came up with ConfirmTkt.com ! We recently caught up with Sripad to know more about ConfirmTkt
1.Tell us a little bit about your startup.
ConfirmTkt is a travel tool which is changing the way people travel in India. It aims to solve the day-to-day problems of Indian train travelers.
“Getting a Confirmed ticket to travel”
Lay man Solution: On the basis of past experience, people tend to make their own guesses -“For a train “XXX” W/L 30 would confirm” .
Confirmtkt Solution :
ConfirmTkt does the same . The idea behind the ConfirmTKT PNR predictions is
To analyse the past ticketing trends and predict ticket confirmation chances.
ConfirmTKT maintains confirmation thresholds for every train and predict the ticket confirmation chances based on them.
ConfirmTKT is designed in such a way that it learns while predicting. So, the more we predict the more accurate and efficient we are.
2.What inspired the creation of it?
We faced the same problem like every Indian train traveler faces. Travelling from Bangalore to Hyderabad (to our native places) became a challenge. I started observing the ticketing trends for Bangalore Express-12785 (the one I used to take regularly). I started booking the waiting list tickets based on my observation and many a times we both travelled with Confirmed tickets. Then came a turning point when we thought of building a software which can predict and help a common user. This is how the journey of “Confirmtkt” started .
3.What is your target audience and why?
In India almost 2.2 million tickets are booked on a daily basis out of which 7.9 lakh tickets are in waiting list .They are our target audience.
4. Since now it also has a dedicated website and all, how time consuming or difficult was it to get started?
We worked for almost 2 years to develop our algorithms. Compiling and analyzing huge data was not an easy task.
5.What problem does your company solve ?
We mainly solve the following problems:
- Predicting the Waitlist tickets based on past trends
- Providing the public with alternate options to travel
Ticket Waitlist predictions:
Find Alternate options to travel :
We never stopped innovating. Even though we started predicting the trains, there are a few tickets for which confirmation chances are low (Confirmtkt status shows “No Chance”) . The number of tickets which would end up in W/L is huge .After a deep analysis of the train data ,we designed an algorithm which would start exploring all the possible quota`s available on a train to discover an alternate way to travel
Check out the infographic below:
If one is not getting a direct ticket , there are chances where you can do a break journey on the same train by booking 2 tickets and changing your compartment .You would be shelling out a bit more than a direct ticket but at the end you would have a confirmed ticket to travel .
6.Who are the founders and key team members ?
Your vision and mission ?
Mission : “Getting a Confirmed ticket to travel will be no more a dream . We make it happen everytime you travel “
Vision : Confirmtkt would be a ticket discovery tool which would help people get a confirmed ticket to trave.
8. How many hours a week do you spend on work? What about family/hobbies?
We love to work 24*7 to make our idea successful and widely accepted.
9. Why do you think this company can beat the competition?
We are not a traditional travel portal showing the user a ticket inventory and facilitate bookings.
We are a ticket discovery tool power by the analytics. We tell people how to book and when to book.
10. Have you been in a failed start-up before? Why did it fail? what would you do differently?
We started with a Auto/ Taxi fare calculator & aggregator (Meterup). It compares all the fares of taxi operators in a city and helps one to decide the best and cheapest option available. But it didn’t kick off well as we didn’t market it well due to financial constraints.
11.What outsiders have been most important to your business (eg. Mentors, bankers etc.)
No Mentor / Advisors Yet.
12.What is your advice to young entrepreneurs starting today?
If you have an Idea . Its never too late . Start building it .
No idea is bad if you execute it properly . Don’t think about revenue . Once you build a product . you can tweak it somehow to get revenue out of it .
Trust your gut feeling & never ever stop dreaming .
13.How has been your journey so far as an entrepreneur?
Its great ! every day it’s a new learning and a new challenge.
14. Where do you see yourself and your venture 5 years from now?
We would be a one stop shop which will guide people how to travel . We would be addressing all the problems which a traveler faces day-to-day .We have many features lined up which would be focusing on the ticket discovery.