Talkie: 100X Investment Thesis



 


Introduction 

Work from home is the new norm. An increasing number of companies are implementing and creating infrastructure, not just temporarily, but for post-COVID times as well. Now the pain point that these companies face during the process is streamlining the communication and increasing the efficiency between a remote team spread across geographies. The main problem which results with using multiple platforms for communication is a disturbed workflow. Imagine working on a Google Drive or Adobe Photoshop and getting feedback from a colleague. You would have to switch between platforms to communicate. Talkie comes with no dashboard dependency resulting in a highly efficient workflow. 

Talkie handles this problem perfectly by providing a real time voice chat tool for remote teams. It is a better way to communicate for remote teams that don’t want to spend all day using Slack or Whatsapp for business conversations. A lot of time and effort is spent in explaining the workflow over chats which further negatively affects the efficiency. Talkie also addresses the problem of miscommunication and misunderstanding over a chat platform by clearly transmitting the emotions with correct tone. Currently in beta, Talkie plans to add organisational level security and key features like audio transcription of live calls, inter-team communication & integrations in the product, making it a fully-functional communication pioneer. 



Where it all began 

During the first phase of lockdown, founders of Talkie and second time entrepreneurs, Amogh and Ujwal realized that they were facing endless challenges in remote communications with their team. They wasted a lot of time texting and scheduling calls. This is when they realized the need for a 10X better and efficient communication tool.




Market Opportunity 

The current pandemic has forced millions of people to adapt to working from home. This poses many challenges in communicating effectively with the team. The global remote team collaboration market is valued at over $90 billions and is rapidly growing by 12% year on year. 

Depending on the sector a company is operating in, at any point in time, the company would be using different platforms like Slack, Asana, Whatsapp, Any Desk, Google Drive, etc. Talkie offers features that help in smooth communication between team members while using any of the above platforms for a streamlined communication while using the same platform and not disturbing the workflow from the screen. The features are further divided in two broad categories of asynchronous and synchronous communication.

Asynchronous communication offers features like drop a message, chat option, and listening to messages for upto 24 hours. It helps you focus on your work while also taking and giving text and voice messages as per your convenience. The messages are completely encrypted assuring customers of complete privacy at all times. 

Synchronous communication offers features like live calls, chats and screen sharing. All these with added features like noise reduction, and inviting multiple members on call.

Currently Talkie offers its tool for free upto 5-6 months after which teams of 4 members can use it for free while teams of 4+ members would have to pay $4 per month/user. 

100X.VC Thesis 

With the first mover’s advantage in India, Talkie is all about speed, convenience, accessibility, and technology. We believe that the work from home concept is going to be the new normal as an increasing number of companies might not return to office at all and continue work from home to cut down real estate expenditures. A platform like Talkie would play a pivotal role in making the communication between the employees efficient and streamlined. Considering the freemium model that Talkie is working on, we feel that it will attract a huge consumer audience for the platform and once they see the drastic increase in their efficiency they will shift to become a paying customer resulting in a steady increase in the consumer base and revenue. 

Conclusion 

100X.VC believes that team collaboration softwares will continue to empower teams even after they resume working at the office. We see great potential in the product and the team and are very excited to see Amogh and Ujwal take Talkie to greater heights! 



- 100X.VC Team

Published on: May 18, 2021