Comments on: Personal Finance Startup, Zibika shuts shop

By: Ravi

Ravi — Sat, 20 Feb 2010 23:36:01 +0000

I happen to chance upon some of these guys and the CEO was a real idiot..I am not surprised at all

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Mon, 25 Jan 2010 15:57:12 +0000

[...] Personal Finance Startup, Zibika shuts shop [...]

By: Anil

Anil — Mon, 25 Jan 2010 14:11:03 +0000

@ Rohit

Interesting ‘expected fallout’ you have stated.

Would rather not generalize and stereotype the IIM trained MBA’s

btw, what business are you in / starting ?

By: Rohit

Rohit — Fri, 22 Jan 2010 14:47:38 +0000

going into a business without planning for even a year sounds immature to me. Irony is these same guys will now go join some large corporates and harass small entrepreneurs like me with their demands for documentations, projections, 3 year diagrams and shit whenever we approach them for a joint project…

believe me i understand their pain, just too difficult for me to sympathize with IIM trained mbas…

By: Anil

Anil — Fri, 22 Jan 2010 12:13:18 +0000

@ Rohit,
Shortage of funds as well. Zibika was going primarily B2C. Funds are of prime importance, when the product/service is nascent and the distribution medium (online) not very popular. Unless it goes viral.

By: Anil

Anil — Fri, 22 Jan 2010 12:11:32 +0000

@ Gowthaman
Any particular reason why not online?

By: Sai Pothuri

Sai Pothuri — Fri, 22 Jan 2010 11:34:38 +0000

WEll.. for me the real fear of people is that people do maintain bank accounts in major national and international banks, but coming to this type of online financial services companies, people fear of providing there complete financial details to company

Because a person can have 1 crore but he cant put that 1 crore amount details before a company. there might be some amount white and some amount black ( which is not taxable ) so how many people can tend towards to put all documents before a company to provide them a financial plan??

Let me know your views

Thanks & Regards

Sai Pothuri

By: ranjith boyanapalli

ranjith boyanapalli — Fri, 22 Jan 2010 05:35:47 +0000

Quite unfortunate. It is true that the market of online financial solutions is still native, and needs a few more years to mature and convince the customer, and needless to say that would mean deep pockets.

By: Rajat

Rajat — Thu, 21 Jan 2010 16:43:37 +0000

I had written this earlier on a comment in your blog only that india is a different market.People are afraid to transaction online, people are afraid to read their financial info online.

Only pure opensource solution or paid solution with Support and proper Ad system will work.The solution should run from the owners machine.

Checkout this product http://www.letthebucksgrow.com.Its an opensource personal finance tool.

Regards
Rajat

By: Rohit

Rohit — Thu, 21 Jan 2010 14:06:02 +0000

your last coverage of them was in may 09…closing down in less than a year…that is sad…not a shortage of funds…shortage of ideas.

By: Gowthaman

Gowthaman — Thu, 21 Jan 2010 13:28:35 +0000

I would never buy a financial service online, so would most of friends, in-spite of being in higher income groups, financial services are still best consumed through word of mouth