There is a stark difference between the brokerage accounts of China and India, with the former having 350 million and India having only 25 million. According to Bobby Bhatia, who is the CEO and founder of TrackInvest, this difference is owing to ‘information asymmetry’.
Bobby Bhatia is an individual equity veteran, who has spent the later part of his career as the principal of Asia business of JP Morgan prior to taking office as the head and managing director of principal investments at American International Group for the Asia-Pacific region.
Determined to set the playing field level, Bobby commenced on TrakInvest in the year 2012. This includes an app and a website to let users make some mock investments in big-time companies through big-time stock exchanges. The firm has tie-ups with 9 stock exchanges globally, including National Stock Exchange, London Stock Exchange, NASDAQ, and Shanghai Stock Exchange for providing real-time information to users by a time lag of 10 seconds.
As soon as users sign-up on this platform, they’re provided entrée to analytical tools, contextualized news, and Rs 50. lakh stash of in digital cash. Whilst basic services are free, the premium services are chargeable, like worldwide stock exchange trading is available for Rs. 700 or Rs. 1750 monthly depending on the chosen package.
The primary investors in TrakInvest are Taurus Wealth in Singapore and SparkLabs, a startup in Korea. Today, many dummy trading platforms subsist in India, including ICICI virtual trading podium, Moneybhai by Moneycontrol, and Paathshala by the National Stock Exchange, etc.
TrakInvest’s key differentiation point is in its social media services, which are incorporated onto the stage. Users can “trak” or follow the successful investor’s trades and mimic them to construct their individual portfolio. It is a peer-to-peer model for learning.
If a user is informed in the technical sector, based on the returns made in their virtual portfolio, the others can keep a stock track that is sold, bought, and copied on the similar trades. Hence, users are up to learning from others, along with sharing their insights together. Presently, TrakInvest holds 100,000 users. Among them, 17-19% people are active constantly, spending an average of 14 minutes per session on this platform.
The next TrakInvest peg comes from the countless competitions conducted by TrakInvest to give its users an opportunity for earning cash prizes and internships at top financial and banking services firms. For example, TrakInvest is presently amid India’s foremost reality show for virtual stock trading.
16,000 participants across India, including professionals, students, and homemakers, joined in the qualifying round for building a winning portfolio. TrakInvest promises to give 100 jobs to the top 100 players of this competition in finance and banking firms across Hong Kong, Dubai, Singapore, and Australia.
Likewise, the firm runs competitions for stock trading for big corporate and aims to license particular content and technology pieces to them at a charge. Having a lucid revenue model with a profound understanding of the users, stemming from first-hand experience of Bhatia within this industry, along with an enthusiasm for innovation, TrakInvest seems to be in a sweet spot. If you want to know more about TrackInvest and its environment, read its whitepaper.