Based on the numbers given, their daily transacting users should be around ~400-500k.
10M app downloads or 2 cr users as per app store. Definitely shows a leaky bucket in retention but impressed that half million transact everyday.
Any users or people you know who invest?
Personal opinion but Didgital Gold is not a good investment option. There are better options like Gold ETFs in which you can also do Stock SIPs or SGBs
They don't have a PMF....they don't get much revenue from this. Gold investing is a feature in many apps and nothing different they are doing.
They are trying to get into lending and most probably will come this year. But, lending space is already crowded and with recent restrictions from RBI, it will be tough.
General consensus is that recovery in lending is the tough part. Their CPO gave a hot take recently on Twitter something like recovery is easy if done correctly. Let's see if they can crack it.
I don't think they will.
They will lose their valuation in the next 1-2 years.
Yeah, but have a lots of funds. At a very low burn rate they can survive for 3-5 years. So they have some time to pivot.
I checked on people from Gullak and as per them they have a circular economy wherein they help jewellers buy gold at today’s prices with the money of investors and the jewellers pay a commission and it helps the investor make surplus returns over and above the gold rate ie they make money from both sides of the customer & it’s SEBI regulated. Sounds nice, but I’d stick to SGB 😅
Digital Gold is not SEBI regulated at all.
In fact SEBI restricts entities regulated by it from offering digital gold service most are sold via partnerships.
Math is off. He means saved 171m times. Which is transactions. so 500k transactions per day. I guess it's connected to UPI so best case 5 transactions per user per day, so 100k dau.
Yeah, but I think it would be 1 transaction a day who wants to enter pin every time to buy gold,Unless autodebit is enabled which people don't like
