Have you ever wondered how beautiful this planet would be if business houses focus on creating value rather than wealth? One such startup which works for creating value in their customer’s lives is Runs.com. Founded by a passionate entrepreneur, Mr. Giri Devanur, Runs.com aims to provide value based offering to its customers.
We are living in an ever evolving technological world. To expand the reach and cover the wide market, business platforms have grown exponentially. However there are certain loopholes in the current modus operandi of these e-commerce platforms. These conventional e-commerce platforms are driven by the motive of profit maximization and hence offer customers those products which conflict with their needs. The only value these kinds of platforms create is “price”, which allures the customers the most. However there was one man who wished to stand out of the league.
Mr. Giri founded Runs.com to create a merger of experience commerce with digital trust. Runs.com is bringing the power back to buyers and sellers by building the first Decentralized eCommerce Platform based on digital trust and verified by Blockchain. Runs.com is the harbinger of positive changes throughdecentralized SKU eCommerce. In recognition of his vision and passion for work, Mr. Giri has been awarded as the E&Y Entrepreneur of the year 2017. He was also instrumental in the NASDAQ IPO of AMRH. Coming from a teachingbackground, he had always dreamt of teaching at his alma mater, Columbia University. He has struck off many items from his bucket list over the years. Runs.com which got conceived as the brainchild of Mr. Giri, aims at revolutionizing eCommerce by giving control back to consumers.
At runs.com, the team brings out the experiences associated with products through their Experience Keeping Units (XKUs). An XKU is a unique identification code for each of the experiences on this platform. Encompassing digital trust to their customers and transforming the electronic marketplace to create extensive value is the sole purpose of Runs.com. Mr. Giri has also authored a book “Nothing to NASDAQ” where he guides young entrepreneurs the formula to get a company listed on Nasdaq. In his journey he has seen the worst at times but succeeded in springing back up every time to steer through all the challenges. His well guided entrepreneurial skill is the biggest blessing to this newly formed startup.
Here Centiplex presents Mr Giri Devanur with his venture Runs.com in front of you via an Exclusive Interview with us:
Question – 1: What is the Name of Your Business? Talk about the idea behind Runs and its offerings.
Response: The brand name is Runs
The idea behind Runs is to deliver extraordinary experiences to a larger group of people, who are fans of Cricket, Cinema and Coffee. We are the world’s first blockchain-based e-commerce platform for experiences targeting 25 countries and over 2 billion people. Runs was incubated at Columbia University’s Innovation and Entrepreneurship program at Columbia Business School.
We are aiming to pivot from the conventional eCommerce offerings that are available in the market today from a commodity-based offering to a more value-based offering. We believe that as the markets mature, people will start looking for more experience-based offerings. Runs aims to capture these experiences into a tangible and quantifiable offering that can be shared and experienced by all on our platform.
Our Solution: Digital trust through XKU
We want to transform from Centralized Platforms to a Trusted Decentralized Marketplace. Also, convert Electronic (SKU) Commerce to Experience (XKU) Commerce. Digital trust encompasses everything from product information to data collection to payment transactions occurring within the platform. It’s a key feature assured by the Blockchain and reinforced by the effort towards GDPR compliance.
XKU or Experience-Keeping-Unit is an innovative extension of Stock-Keeping-Units has 3 attributes namely Story, Source & Sustainability. These act as ledger entries that are codified on the Blockchain. Runs has already filed a provisional patent for XKU.
Question – 2: What is the USP of Runs which makes it unique & different from other Business in similar domains.
Response: The USP of Runs is our patent pending XKU (Experience Keeping Unit). XKU will be a far superior method to identify 3S’s – Story, Source and Sustainability which is the Story behind a product, it’s Source – Whether it ethically produced and its Sustainability aspects. XKU’s will come with their unique bar codes that will register the uniqueness of each unit that is listed. All this is then transacted on the secure blockchain platform to ensure security.
The usual ecommerce platforms are centralized in nature and hence have been monopolistic in their approach. We want to decentralize the eCommerce marketplace. We believe that this is the future and with our patent pending XKU model sharing and transacting real life experience will become a reality. We envision a growing community of users transacting with Runs tokens to share and trade their favorite experiences. Runs will be a platform that seeks to engage its users with a more relevant experiential marketing approach of offering curated experiences in their areas of interest.
Question –3: Where is your Business based (city, state, country) & What are your geographical target areas?
Response: Its a Singapore-based start-up with offices in NY & Bangalore.Runs aims to build a global community of people around their interest areas in 25 countries and 125 cities. We are working aggressively to be present in these countries and cities through various initiatives.
Question – 4: When are you launching ICO? What is your hard target?
Response: We have a total supply of 180million RUNS tokens. We are opening 75M tokens during pre-sale. During this period, we are offering 30% discount as an early bird offer. Following this we will launch the crowd sale during mid-July.
Question – 5: Who are your biggest competitors?
Response: We have different categories of competition. For examples, there are online ticketing companies, there are travel companies etc. But there are no direct competition as we have invented our own XKU model.
Question – 6: What best Marketing practices/tools that you always rely for the business development, marketing and branding?
Response: We are designing the marketing that will be heavily based on AI. We are further working on proprietary AI tools and machine learning techniques for our community development. We believe that we have one of the most unique, globally recognized brandin RUNS. Every time, when one hears cricket commentary, they will think of Runs.
Question – 7: What skills Do you want in your employees/team at the time of hiring?
Response: We have chosen to have a very agile and dynamic team. Our team will be at the fore front of technology. As my mentor Dr. Art Langer says, “all roads lead to technology”, I strongly believe that all employees must be extremely proficient in technology. They should have design thinking and creativity. Our team members will be our brand ambassadors.
Question – 8: What expansion plans are you looking for the next 2 years, next 5 years?
Response: We will be operational in 125 cities in 25 countries in 3 years. We will have technology development teams in USA, India and Singapore.
Question – 9: Where do you want to see yourself in next 10 years?
Response: We expect to be serving more than 50 Million members in 25 countries. We are looking at over 1000 XKUs on-boarded on our platform in the first year alone.
Question – 10:What was the most challenging part of your journey till now? How did you overcome those challenges?
Response: Runs.com is a new company. We have not had any major challenges yet.
Question – 11:Whom do you consider your idol or biggest motivator?
Response: Steve Jobs from a focus and discipline perspective and Jack Ma from a global power perspective are my motivators.
Question – 12: How your current profile has transformed you as a person?
Response: I have been through ups and downs as an entrepreneur. One will realize you have very few friends in a crisis and too many friends and relatives in success. It makes you wonder, who is a friend. This realization has transformed me. I now know who my true friends are.
Question – 13:If you had the chance to start your career over again, what would you do differently?
Response: I would spend a few years in China. Too much is happening in technology there.
Question – 14: What is that One thing you would like to change in your organization/Business today?
Response: Runs.com is a new company. And we hope to remain in the first year of operation forever. We want to build a culture of hyper speed and growth.
Question – 15:Anything, you would like to say to our readers or fellow business people?
Response: Ikigai – is a Japanese concept that means “a reason for being.” The word “ikigai” is usually used to indicate the source of value in one’s life or the things that makes one’s life worthwhile. Once you find your ikigai, you will truly be happy.
Question – 16: What your company doing under CSR?
Response: Since we are focusing on scaling up right now, we will be working towards our CSR programmesin the next year.
Question – 17: What Plans do you have for booming Startups in your country?
Response: We hope to build an ecosystem around 3Cs – Cricket/Cinema/Coffee. We think this is also an opportunity in the form of learning for other startups who would like to explore experiences as a platform and for Blockchain technologies.
Question – 18: Tell us something about your professional, educational, family background and awards if any.
Response: Prior to Runs, I was the CEO of AMERI100, anIT services company, which broke some interesting business records to get listed on Nasdaq in just under four years.
I have a Graduation from University of Mysore, a Post-Graduation from Columbia University (where I also mentor from time to time). I was recently nominated as the winner of the E&Y Entrepreneur of the Year Award.
Question – 19: Do you consider yourself successful and by what means do you measure success?
Response: Success is not about big things. It is about being happy. I have been happy always and that’s what matters.
Question – 20: Can you throw light on your book – ‘Nothing to Nasdaq’?
Response: This was not a planned book. Right after our Nasdaq listing, some of my younger colleagues and friends asked me what’s the formula to get a company listed. And then we realized that we had broken some real records in our journey to listing on Nasdaq within 4 years. This book is a bit of my journey as well as how to get listed on Nasdaq. During my years at Columbia University, I had researched under the guidance of Dr. Art Langer and I had developed a framework SNSNFTP (Strategy, Negotiations, Sales, Networking, Finance, Technology and People). These skills I believe are a must to take one’s company from “Nothing to Nasdaq”.
Question – 21: Please share complete name, address, phone number, email id & website of Your Business & Contact Person.
Corporate Communication:Mr. Sandesh Nanjundappa
Contact details – [email protected]
Phone No. – 9900245123
Contact details – 8095334774