Cred has probably created a high trust network of individuals, though they haven't shared any data with the public that proves so. However, they have yet to figure out a way to make money from that network. Currently, they generate interest revenue by accepting your CC payments and paying to the bank a couple of days later. I'm not sure they even have a business model as yet. Kunal has done a great job in selling an idea to VCs. How that idea translates to money, or to value to shareholders is yet to be seen.
@@imtotallyseriously yeah, That's basically a platform model drives utility using customer base and selling that info to supplier i.e. merchants in this case. As he said he needs to attain a critical transactional mass and then can pivot the product to anything he desires. I'm curious to what he has promised the VC's on the product vision is, until then he is burning money.
These types of people should be considered as heroes there are lots of positive things to be taken from him. Sadly we grew up watching bolllywood. this type of content should be must for school and college going students.
Frankly, I love the way shradhha goes on asking her questions.. Extremely inquisitive, yet simple way to ask... It is difficult for person answering, avoiding her questions... Love the way, she is building her company, hope to meet her in person in this lifetime. 🙏🏻
What a guy he is! Such business proficiency with acute acumen is rare to find. He candidly answered all questions with real examples. One of the best business talks I have seen so far. Hope he takes care of his health too
My biggest takeaways from the video- Wealth is not a zero sum game, wealth is expanding. Building a community is the way to go. Thanks kunal sir, keep creating and inspiring.....
I watched his podcast on beerbiceps and became fan of this person, continuously watching his interview and lectures for last 3 or 4 days on UA-cam. Really, he is very intellectual person.
Download from below link and get 250rs CB make your credit card bill payment on CRED and earn exclusive rewards from Uber, Amazon, Flipkart, and more. it pays to be good cred.onelink.me/spQx/2c9a7b16
One of the few interviews that I really enjoyed - so many of the points resonated within me AND I learnt quite a bit as well. I think I'll have to watch this at least once more. Thank you Shradha.
A great interview..he is thinking long term and will eventually pull out India of the old norms and the stagnant economy. You dont need to generalize a product for everyone. Make the product desirable and showcase it's benefits and inspire people to work hard
I am using cred from last 4 months. It is wonderful, I used to pay credit card bill by doing login to SBI bank and wait patiently to do full transactions, using Cred I save my time and it gives reminders and as I promote it I get points too. Same like MLM companies such as Vestige etc.
Blunt # Futuristic # and Very Open Loved the Interview!! Hope to see Cred Grow and learn more from Kunal!! And I Believe it's time the younger generation should Change /Shift their focus to derive inspiration from Actors Sport's Personality and Preaching Sages.. to Idealistic Business Man who really wanna to see India grow and that too in Reality and not Virtually.. 👍 a Big Thumbs up!!;
Mindblown by Kunal. Sucha down-to-earth and intelligent guy. Plus , I just discovered this channel , and it's been giving out such great content so far.
you are really inspiring without tech background you are in tech thats great great sir we always learn a lot from you when ever we listen you be it on facebook , twitter or youtube
Reward structure needs to be improved. Amazon,flipkart vouchers is needed. Recharge and bill payment coupons would be great. Interestingly there is no other app like CRED as of now. Probably we may see something else? Lets see how it goes.
Amazing idea and clarity by Kunal. It was a much needed video which gives insight into the genesis of Cred else it was being perceived as just another freecharge app in the area of credit cards payment.
Informative, this guy is trying to build business by understanding the nerves of Indian Customer and their mind set. This business model has great potential as by privileging the people those who are following the rules and laws strictly and this data will be used by every business to provide best services to people's belong this community.
_So to be honest first I thought he founded Snapdeal, than I came to know that he actually founded Freecharge (which btw I still use) and then watching this interview made me respect this guy even more. His opinions will now hold a high regard for me. Thanks for this insightful Interview YourStrory team_ 🙌🙌
Unpopular opinion: Anyone noticed how much he said “this country”? Sad that people who want our trust are thinking from an outsider perspective when it comes to our country. Nowhere else entrepreneurs feel that about their own country. You lost my trust. I don’t think I can use cred anymore. Your trust score is super low now.
Kunal, the thing u r saying about capitalism. I have friends who have passed out from IIM and are in corporate jobs cursing capitalism and favouring socialism/Marxism. Our education system is so redundant, hope its fixed by e-learning platforms and aware parents who know whats important for their kids so that next generation doesn’t turn out to be so ignorant of market economy.
In a country of freeloaders (only 1% direct tax payers), the only 'ism that can work and make the country prosperous and livable, is the 'ism that favours merit.
With Cred, they are building network of trustworthy people. What they are going to do with them? - They can offer loan to people from the money collected from other people - They can offer discount to people, who likely not to buy the product
Replace the word “high trust” with “high net worth” - because that’s what CRED essentially is. It’s an app literally gated by credit score and bank balance Talk about euphemisms!
Great point, I'm guessing from my vantage point here, that he is following the Tesla/Uber model: Start with premium customers then build portfolios for mid to low tier segments. Generate good numbers for the initial product then build for mass market.
I beg to differ ragavendra, Doesn't that mean If person have high credit score and good bank balance ; you can trust that community financially. You can make any financial transactions where trust is the issue. Like he said renting house, doing buisness, sharing ideas
We learn from expensive mistakes. He learnt from his mistakes building freecharge for the mass market with DAU and MAU. But someone else paid for that mistake. When to exit a venture is also a skill and Kunal knows that.
its literally is, initially each and every fintech co. gave discounts until everyone gets used to it, then the best thing they`ll show is the cute lil middlefinger, everyone knws this, just like jio they want every middleclass people to used to something first because this middleclass spends they won`t go back, 199,299,399....... you spend they prosper and pregress
23:37 Some degree of socialism is necessary in a country where the wealth gap is as vast as it is in India. Letting capitalism run unfettered and waiting for the market forces to be the only balancing force leads to un-necessary human suffering. Whenever there is a market crash often caused by greedy practices in capitalism, it's the poor that go hungry. Not the rich.
That calls for checks and balances not some shitty socialistic bs. Countries who avoid market frauds and loan frauds do it by puttinh in checks and balances and not by nationalising banks
One of the best ‘no show off’ conversation. The host also needs to be appreciated for asking simple and sensible questions .
What is the name of the hostess?
PALLAB BISWAS shradha sharma , founder of yourstory , she is quite passionate about startups
@@pallabbiswas947 she is the founder of Your Story startup
1 year later cred is an IPL sponsor and has roped Anil Kapoor as Brand Ambassador...Kunal has delivered what he promised....
If roping in Anil Kapoor means delivering value, then we need to rethink what a business means :)
Cred has probably created a high trust network of individuals, though they haven't shared any data with the public that proves so.
However, they have yet to figure out a way to make money from that network. Currently, they generate interest revenue by accepting your CC payments and paying to the bank a couple of days later.
I'm not sure they even have a business model as yet. Kunal has done a great job in selling an idea to VCs. How that idea translates to money, or to value to shareholders is yet to be seen.
@@imtotallyseriously yeah, That's basically a platform model drives utility using customer base and selling that info to supplier i.e. merchants in this case. As he said he needs to attain a critical transactional mass and then can pivot the product to anything he desires. I'm curious to what he has promised the VC's on the product vision is, until then he is burning money.
But delivering profit is also key point.
Is CRED profitable now ?
@@bhavikthakar8241 Probably not
When every question is explained with an example..you understand the worth of that person 🔥
Lol kabir das was idiot according to u
The ability to ask dumb questions is a Superpower. -Kunal Shah
Petty questions that sound dumb are often important.
The way he comes out with examples so spontaneously is amazing, helps rookies like me to understand what he is talking about. Great guy!
ua-cam.com/video/bTPfTBI87Yw/v-deo.html
Kunal Shah short video
Foolish people like you only use his foolish apps which creates no value for humans
These types of people should be considered as heroes there are lots of positive things to be taken from him. Sadly we grew up watching bolllywood. this type of content should be must for school and college going students.
Exactly...🙏
Such great clarity of thoughts! A man to be followed
Frankly, I love the way shradhha goes on asking her questions.. Extremely inquisitive, yet simple way to ask... It is difficult for person answering, avoiding her questions... Love the way, she is building her company, hope to meet her in person in this lifetime. 🙏🏻
What a guy he is! Such business proficiency with acute acumen is rare to find. He candidly answered all questions with real examples. One of the best business talks I have seen so far. Hope he takes care of his health too
My biggest takeaways from the video-
Wealth is not a zero sum game, wealth is expanding.
Building a community is the way to go.
Thanks kunal sir, keep creating and inspiring.....
This is why young founders love YourStory. Interviewed him just at this crucial time to understand his mindset.
I watched his podcast on beerbiceps and became fan of this person, continuously watching his interview and lectures for last 3 or 4 days on UA-cam. Really, he is very intellectual person.
Same :)
In the process of the same :)
same :)
Same bro
The only interview where I understood both questions and answers ;)
Download from below link and get 250rs CB make your credit card bill payment on CRED and earn exclusive rewards from Uber, Amazon, Flipkart, and more. it pays to be good
cred.onelink.me/spQx/2c9a7b16
Absolutely!
'Happiness is a Flawed Concept" - Kunal Shah 25:10
Loved him identifying himself to be a learner rather than thinking himself to be extra-ordinary
One of the few interviews that I really enjoyed - so many of the points resonated within me AND I learnt quite a bit as well. I think I'll have to watch this at least once more. Thank you Shradha.
*_let's just do a simple voiceover like "download Cred"_*
😂😂👌
I didn't like that ad tbh.. it's too obnoxious.
facebook.com/potterswheelmedia/photos/a.133036573916377/778236606063034/ the best digital marketing agency
25:11 This is the moment he proved he is not just an Entrepreneur but a Philosopher. Great explanation.👏🏻
Kunal Shah comes across as a intelligent, humorous, philosophical, trusty worthy person! Shraddha Sharma , as usual, is at her very best👍👍
A great interview..he is thinking long term and will eventually pull out India of the old norms and the stagnant economy. You dont need to generalize a product for everyone. Make the product desirable and showcase it's benefits and inspire people to work hard
In india not possible.
Thoroughly enjoyed this. My best new channel on UA-cam. Loved how Kunal mixes and sprinkles a few Hindi words while speaking in English.
Loved that... fasal nahi banti muscle baan jate hai.. business muscles..👍
One of the best interview I have seen in UA-cam.
Same here
He is sooo inspiring 🤩
Now, i understood what for cred is evolved..
CRED stands for Credibility...All the best kunal. Hatsoff to you to your aspirations.
Every TIME we listen to him is
Most enriching experience.
I am using cred from last 4 months. It is wonderful, I used to pay credit card bill by doing login to SBI bank and wait patiently to do full transactions, using Cred I save my time and it gives reminders and as I promote it I get points too. Same like MLM companies such as Vestige etc.
Kunal sir 🙏🙏🙏thanks a lot for cred.. Really happy... Specially cred cash... It's amazing
Kunal Shah is going to make it to a UNICORN club soon!
#creduser
Stop using this shit... you will be scammed
@@GoodEnough99 Why?
Ya with billion of losses 8 am sure they will beat all other " startups"
He did work 2.2bn valuation
@@SaiAnanth My prediction went true...
Probably this is the only interview that was so simple & easy to understand.
Kunal Sir is an institution altogether. Awesome 🙏
This is one of the videos where i feel one like button is injustice by utube. 👏👏👍
he seems crystal clear where he is going, one of best interviews I have seen
I love the perception of this guy. Good Going. Greeting from Kathmandu
Excellent video Kunal Shah sir 👍 always inspiration
Blunt # Futuristic # and Very Open Loved the Interview!! Hope to see Cred Grow and learn more from Kunal!!
And I Believe it's time the younger generation should Change /Shift their focus to derive inspiration from Actors Sport's Personality and Preaching Sages.. to Idealistic Business Man who really wanna to see India grow and that too in Reality and not Virtually.. 👍 a Big Thumbs up!!;
Kunal Shah talks straight to the business! Fundamentals.
No shit. ✔️
Recommended watch: Find your pot of Gold
Kudos to Shradhha n Kunal. What an interview.
Very nice interview, really Kunal shaw is an authentic person.
Downloaded cred just after interview. It was so impressive.
Very good insights, this is a must watch for all start up Entrepreneurs.
simple to the point conversation. I will now check CRED, just because i appreciate this straight clean interview.
Mindblown by Kunal. Sucha down-to-earth and intelligent guy. Plus , I just discovered this channel , and it's been giving out such great content so far.
He has such profound understanding of simple concepts
you are really inspiring without tech background you are in tech thats great great sir we always learn a lot from you when ever we listen you be it on facebook , twitter or youtube
Thanks for all the Videos Shradha.... You are really awesome
Reward structure needs to be improved.
Amazon,flipkart vouchers is needed.
Recharge and bill payment coupons would be great.
Interestingly there is no other app like CRED as of now.
Probably we may see something else?
Lets see how it goes.
agree.. cred coins aren't much useful as of now....lets see
So cred sells/uses our transaction data to earn money from other companies to whom that data is helpful. Right?
Their reward program is not good as of now .
They did not improve it either.
They should allow to buy the cashback coupons by using the reward points.
Very nice hearing to Kunal, loved the humility and the homework concentrate!
*"The ability to ask dumb questions, I think is a super power"*
lmaooo
Amazing & Inspiring... Simply Superb
Amazing idea and clarity by Kunal. It was a much needed video which gives insight into the genesis of Cred else it was being perceived as just another freecharge app in the area of credit cards payment.
Informative, this guy is trying to build business by understanding the nerves of Indian Customer and their mind set. This business model has great potential as by privileging the people those who are following the rules and laws strictly and this data will be used by every business to provide best services to people's belong this community.
One of THE BEST interviews I’ve ever seen!!
Each and every second was amazingg!
Simply amazing! Good Interview! 👌
That last part was a fire. I am now loving this guy. Going to learn much from him.
I’m watching this today and hoping to see another interview
Best honest interview ever I seen till date
The idea/narrative/perspective is quite moving. 😍
Such simple, insightful, humble and powerful perspectives
Bande main hain dum. this is the new india everyone is dreaming off. We are not far away to become the most valuable country.
He is looking so different. I did not recognise him though had met him thrice in 2014~15
Great ideas shared by this talk show!!!amazing
Trust issue in deposit on rent is bang on.Glad some entrepreneur are thinking in that direction.
That’s totally a different point of view & Im proud to be Cred customer.
Kunal shah is a legend
Tru tho 😊
Kunal keeps it simple. Nice interview.
Wonderful work by Kunal , he is really doing a wonderful job. Credits to Shradha as well for bringing such great visionary people across us.
_So to be honest first I thought he founded Snapdeal, than I came to know that he actually founded Freecharge (which btw I still use) and then watching this interview made me respect this guy even more. His opinions will now hold a high regard for me. Thanks for this insightful Interview YourStrory team_ 🙌🙌
Amazing knowledge this guy has! Superb conversation. Kudos to Shradha Sharma too.
He's applying the 80-20 Pareto Principle.
peter thiel, power law
Yeah!!
What's that can someone explain me
Loved the conversation of this person.
Blew my mind with how he explained happiness is flawed concept. Kunal is damn sharp🙏🏼
Amazing perspective! Every statement is backed by real life example. It proves he isn't just blabbering fancy english words. Lot to learn from him
What a brilliant concept . It's genius.
Unpopular opinion: Anyone noticed how much he said “this country”? Sad that people who want our trust are thinking from an outsider perspective when it comes to our country. Nowhere else entrepreneurs feel that about their own country. You lost my trust. I don’t think I can use cred anymore. Your trust score is super low now.
Sridhar vembu is an exemption
Agreed
I think its because he considers himself as a global citizen.
@@NikhilKumar279 like Vijay mallya , so that he can cheat any country, just joking bro🤣
See idhar hi to trust issue he bro.....india ko pyaar kare ya nhi....but Indian ko leke observations sahi hi he uska
Superb show.. 😄 Gentleman Interviews. N ofcourse hope is a drug
One of the best interview I came across, So much to learn from this man👍
One of the best interview. Very informative about entrepreneuship.
Kunal has made some really great points here which would help a lot to so many people. Thanks Shradha a ton.
Pure insights of business ❤
Kunal, the thing u r saying about capitalism. I have friends who have passed out from IIM and are in corporate jobs cursing capitalism and favouring socialism/Marxism.
Our education system is so redundant, hope its fixed by e-learning platforms and aware parents who know whats important for their kids so that next generation doesn’t turn out to be so ignorant of market economy.
In a country of freeloaders (only 1% direct tax payers), the only 'ism that can work and make the country prosperous and livable, is the 'ism that favours merit.
With Cred, they are building network of trustworthy people. What they are going to do with them?
- They can offer loan to people from the money collected from other people
- They can offer discount to people, who likely not to buy the product
CRED will be the Indian company of the decade.
thanks for the amazing insightful video YourStory team.
Kunal is very nice define his startup cred,
His mission for cred is clear in this video.
the ux is so great on this app, love it.
I swear i installed it yesterday just to see the UI/UX and i was just blown one of the best
@@naeemf6019 yeah it is fun..
Replace the word “high trust” with “high net worth” - because that’s what CRED essentially is. It’s an app literally gated by credit score and bank balance
Talk about euphemisms!
Much underrated comment!
Great point, I'm guessing from my vantage point here, that he is following the Tesla/Uber model: Start with premium customers then build portfolios for mid to low tier segments. Generate good numbers for the initial product then build for mass market.
Good to see this comment. While watching the video, whenever Shah said "high trust individuals", I said to myself, "high value individuals".
Still it’s a good idea to build upon, and eventually once a working model develops, he can be the bring the masses.
I beg to differ ragavendra, Doesn't that mean If person have high credit score and good bank balance ; you can trust that community financially. You can make any financial transactions where trust is the issue. Like he said renting house, doing buisness, sharing ideas
Really appreciating interview 🥰🥰
Kunal....grounded...humble....substance and knowledge insights 👌👌👌
We learn from expensive mistakes. He learnt from his mistakes building freecharge for the mass market with DAU and MAU. But someone else paid for that mistake. When to exit a venture is also a skill and Kunal knows that.
@blisteringheightsofstupidity Daily Active Users and Monthly Active Users
Who paid for it?? It was an all cash deal and employees cashed out esops and worked under snapdeal?
@YourStory...Many Thanks for hosting the Interview.
Kudos to Kunal Shah🙌
Cred needs to work on their cashback by burning the cred coins. it's kind of scam, what they got.
its literally is, initially each and every fintech co. gave discounts until everyone gets used to it, then the best thing they`ll show is the cute lil middlefinger, everyone knws this, just like jio they want every middleclass people to used to something first because this middleclass spends they won`t go back, 199,299,399....... you spend they prosper and pregress
23:37 Some degree of socialism is necessary in a country where the wealth gap is as vast as it is in India. Letting capitalism run unfettered and waiting for the market forces to be the only balancing force leads to un-necessary human suffering.
Whenever there is a market crash often caused by greedy practices in capitalism, it's the poor that go hungry. Not the rich.
Chup
That calls for checks and balances not some shitty socialistic bs. Countries who avoid market frauds and loan frauds do it by puttinh in checks and balances and not by nationalising banks
INDIA IS GREAT AND STRONG DEMOCRACY IN THE WORLD BECAUSE INDIANS ARE SPECIALLY BLESSED WITH SKILLS, HARDWORKING, HONEST AND HUMBLE
It's standard best Programe 👌
Loved the conversation.very inspiring
Learn new ideas and brilliant thoughts kunal.
Kudos to Shradha
I really like the host...she is do classy and graceful ❤️
He always come with great idea earlier FreeCharge now cred. Kunal 🙏🏼🙏🏼
Great job YOURSTORY
Lovely chat! You should do more of these Shradha. I wanted to check out the app/website though I don't use a credit card.
Highest credibility people!!Wonderful interview!!