Hello, Business Leaders of Tomorrow! Welcome to our blog. I’m your host, Amit Chawla, Business Clarity Coach.
Today, I’m taking you on a journey that blends creativity and business with a story that exemplifies resilience, innovation, and transformative leadership.
The Beginning
It was April 27, 2019. I was at ITM University in Gwalior, attending the board of advisors meeting for Muskaan Dreams, a non-profit Ed-tech organization. As I took my seat, I noticed a stranger next to me. His name was Vinay. Intrigued by the energy he exuded, I struck up a conversation. Little did I know, this conversation would lead me into the fascinating world of WittyFeed, a company founded by Vinay Singhal, Shashank Vaishnav, and Praveen Singhal.
Founded in 2014, WittyFeed was India’s answer to America’s BuzzFeed—a digital media company focused on viral content. By the end of 2016, WittyFeed had grown into a formidable player in the content world, amassing 120 million unique users monthly, generating 420 million page views and 2.5 billion impressions. They had turned their creative vision into a thriving business, operating out of Indore, a Tier-2 city in India, and catering predominantly to the U.S. market. Their success was nothing short of extraordinary, generating a revenue of around 40 crore INR and standing out as an example of how creativity, when combined with business acumen, can achieve remarkable results.
The Downfall
But success doesn’t come without its challenges. On November 26, 2018, WittyFeed faced its biggest crisis. Without warning, their Facebook page, the lifeblood of their business, was removed. Overnight, they were left without a platform, and their business was in jeopardy.
Vinay recalled that moment with a heavy heart, “We were doomed overnight for no apparent reason.” Initially in denial, they soon realized the gravity of the situation. Legal action against Facebook seemed like a possible route, but the odds were not in their favor. By February 2019, funds were dwindling, and bankruptcy loomed on the horizon. It was a period of intense reflection and soul-searching, but Vinay’s resilience shone through.
The Rebirth
Fast forward a few months to Gwalior. Vinay and his brother, undeterred by their recent struggles, were on a mission. They set out in their new Suzuki Baleno, scouting villages for fresh ideas. Their determination and innovative spirit hinted at something extraordinary in the making.
Despite facing public ridicule, extreme depression, and anxiety, the trio persevered. Therapy and medication became their lifelines, helping them navigate the turbulent waters. Though I lost touch with them for a while, I kept tabs on their progress from afar. Soon, whispers of a new venture began to surface.
In January 2020, Vinay relocated to Delhi NCR to embark on a new chapter. I invited him and his team over for dinner. During our conversation, I sensed an undercurrent of tension. They had developed a new product and were gaining subscribers, but the challenge of scaling up loomed large. The big question was, “Will rural users pay for content?”
The Transformation
By July 2020, WittyFeed had morphed into “Nukkad by Stage.” The name was fitting—Nukkad, meaning a street corner, where communities gather to share stories. The content was deeply rooted in the local culture, delivered in dialects specific to rural India. Their strategy was paying off as paid subscriptions started pouring in from Haryana. The locals took immense pride in having an OTT platform that spoke their language, quite literally.
According to PwC’s report, “Global Entertainment & Media Outlook: India perspective,” the Indian OTT market, dominated by giants like Amazon Prime Video, Netflix, and Disney Hotstar, is projected to grow from $1.8 billion in 2022 to $3.5 billion by 2027. While the global market is expanding at a rate of 8.4%, the Indian market is growing at a staggering 14.32% CAGR over five years.
The Comeback
By January 2023, the trio found themselves on the TV program, Shark Tank India. Their emotional pitch resonated deeply, bringing many to tears, and their valuation skyrocketed to 300 crore INR. It was a moment of triumph, a testament to their indomitable spirit.
A month later, I met them at Praveen’s wedding in Bhiwani. It was exhilarating to see how far they had come, transforming a creative idea into a successful business. What began as a humble venture had now sparked a movement—creators from the Indian hinterland were crafting web series, movies, and songs in their native dialects. The wave had started in Haryana and Rajasthan, but they had plans to expand further.
In August 2023, I visited their new headquarters in Noida. There, I was introduced to their new vision statement: “STAGE is a revolution—to validate, reinforce, and protect the social and cultural identities of people, through the propagation of cultures and dialects.” It was clear that their mission was not just to build a business but to spark a cultural renaissance.
Today, around 6 million people have downloaded the Stage app, and it boasts 620,000 paid subscribers, a number that continues to grow steadily. I was deeply impressed by their unwavering intent and passion, encapsulated in their bold tagline: “Hum company nahin, Kranti hai” (We are not a company; we are a revolution).
The Takeaway
This story isn’t just about a business turnaround. It’s about the power of creativity, resilience, and the unshakeable belief in a vision. Thomas Watson Sr., the former CEO of IBM, once said, “To be successful, you have to have your heart in your business, and your business in your heart.” This sentiment perfectly captures the essence of the STAGE team, who have successfully merged creativity with business acumen, creating something truly transformative.
As we stand on the cusp of a new era in content creation and consumption, it’s crucial to ask ourselves: How creatively are we blending our solutions with strategy? Take Coca-Cola’s recent launch of Y3000, a flavor co-created with artificial intelligence, as an example. It’s a bold step into the future, where humanity and technology converge to create something entirely new.
So, to all the future business leaders out there, remember this: A creative mindset, when combined with a relentless vision, can turn challenges into opportunities. Just like Vinay and his team at STAGE, you too can transform your creative ideas into successful ventures.
Stay tuned for our next blog, where we’ll dive into the journey of a remarkable leader who found his business purpose in a way that transcends traditional boundaries. Until then, keep innovating and leading with both heart and mind.
Amit Chawla (Business Clarity Coach)
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