We launched frankly.me a year and a half back with the premise of letting people express themselves through videos or, if put simply, “to be the India’s first video only social network”.
From Arvind Kejriwal to Javed Akhtar a large number of celebrities used frankly.me to express and interact with their fans through video blogs (more popularly known as velfies or vlogs). While we are not large enough yet to be called a social network, we have a loyal community of vloggers with whom we stay in regular touch. As icing on the cake, our user base is growing because of a unique format similar to Dubsmash.
We raised a pre series A round of funding from new as well as existing investors in January 2016, which we haven’t yet disclosed publicly. It is disheartening to see how media / people jumped to conclusions. Hence, I decided to pen down the reality and give a clearer picture to our fellow Entrepreneurs and friends.
Despite these early successes, we haven’t been able to achieve sustainable product market fit. While the market seems keen on adopting video to consume happenings around itself, video creation still remains a challenge and probably a problem a little ahead of its time.
About one-and-a-half years later, we are shutting down the application. Yes, you heard it right.
We have our shares of successes and failures. Nevertheless as a journey frankly.me has further humbled us as human beings. We used to stay in regular touch with our users through phone and person, but believe the channel could have been more efficient. We also realised that startups should avoid premature scaling, even if availability of capital lures you into doing that.
At one point we expanded ourselves thin by trying to solve a lot of use cases at the same time.