Meet 20-year-old Sanjay Kumar, a gifted Frankenstein from Rajasthan, having a big dream of something special and the eyes of an eagle to see opportunity where others have only obstacles.
From Rajasthan to Your Bookshelf
In 2020, while feeling annoyed with the unaffordable cost of books at such a young age, Sanjay Kumar decided to act and bring a change in society. Following in his father’s entrepreneurial footsteps (which had more hits and misses than a Bollywood thriller) for inspiration, he founded NearBook, a platform that aims to bring second-hand books to the hands of everyone.
A Humble Beginning
Starting with a small amount of investment: ₹6 lakh from his savings and loans, Sanjay set out to create NearBook while still studying for his BCA degree. Talk of a juggling act!
This was not only a business venture for him; this was his mission. He wished to make sure that reading should not be a luxury but a right for everyone.
Though an app, NearBook is much bigger; it serves as a community of book lovers.
- Sell your old books,
- Buy new ones and,
- Gossip with other enthusiastic book lovers.
NearBook has something for all. Browse through thousands of books, find your next great read, and connect with other users in such a way that you don’t even have to rob your bank. It’s like your personal sharing book club in the palm of your hand.
NearBook’s USP is the nearby book feature that shows all the books available near you, sorted by distance. As easy as making treasure maps for book lovers! This will help users find and buy books locally forever; it’s also convenient and helps create bonds in the community.
Striking Gold on Shark Tank India
Fast forward to Shark Tank India 4 where Sanjay sought an investment of ₹240 lakh for acquiring a 20% stake in NearBook. The sharks were surely enthralled by the vision but were slightly skeptical about the revenue model.
However, recognizing the shiny silver lining, Anupam Mittal went ahead to invest ₹40 lakh for a 20% stake, offering his mentorship as well. This partnership was a game-changer, leading to a whopping 300% increase in the user base of NearBook.
With this new investment, Sanjay intends to steer the app towards an improved user experience and work with influencers to spread the word. Sanjay’s absolute objective is to render reading affordable and accessible not only in India but globally.
Challenges and Triumphs
But NearBook’s journey hasn’t been all smooth sailing. They certainly have had a few significant hurdles to cross, ranging from dealing with blatant scammers to implementing a series of disclaimers in the user journey. Despite these, NearBook has a remarkably loyal clientele base comprising 80% students and a 55% repeat rate. NearBook has certainly made its worth count, with over 40,000 books traded since launch.
The Future
Looking ahead, NearBook is gearing up to launch a subscription service that offers a rotating selection of books for a fixed monthly fee. With AI-driven recommendations, users will get personalized book suggestions tailored to their preferences. And let’s not forget NearBook’s unique selling point—finding books near you, making book hunting as easy as pie.
Sanjay’s entrepreneurial journey is a testament to the power of perseverance and innovation. By addressing a genuine need in his community, he’s created a platform that brings the joy of reading to thousands of people. NearBook is more than just a business; it’s a movement that promotes the culture of reading and makes knowledge accessible to all.
So, if you’re looking for an affordable way to fuel your reading habit, NearBook is your go-to app. Dive into the world of pre-loved books and join a community of bookworms who share your passion. With Sanjay at the helm and fresh investment fueling their growth, NearBook is poised for even greater success. Happy reading! 📚😊
