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Dream Merchants Of A Different Kind: Uber Dreams Launches ‘Uber Dream Auctions’ For Users To Bid To Make Dreams Come True

Dream Merchants Of A Different Kind: Uber Dreams Launches ‘Uber Dream Auctions’ For Users To Bid To Make Dreams Come True

While most startups begin as need-based concepts, there are some which are based on the concept of fulfilling dreams! One such startup is Uber Dreams – an experience curation ecommerce platform built to fulfil the users’ dreams with uniquely curated experiences.

“I saw a gap in the market. I wanted to build a platform to ensure that people could make their dreams come true. I feel these are real dreams which can make or break things,” states Savan Daru, co-founder and CEO of Uber Dreams.

Today, it has gone a step further to allow people to bid for their dreams to become real through the launch of the auctions platform -‘Uber Dreams Auctions.’

‘Uber Dreams Auctions’ will open up a whole new section that will allow dreams to be auctioned and the winning bidder will have a chance to fulfil that dream. For this purpose, Uber Dreams has tied up with a number of influential personalities like actress Shilpa Shetty, Mohit Burman of Dabur/Aviva Life Insurance, Anupam Mittal of People Group, among others to feature on the Uber Dreams Auctions.

The idea is simple. Uber Dreams would feature experience/mentoring sessions with these personalities which would be open to auction for the users. The highest bidder will bid to win the session. For starters, the platform will feature Shilpa Shetty on auction, commencing the launch of the portal. The online auction will take place from March 10–15, 2017. The highest bidder and a partner of his/her choice will get to fly to Jaipur and experience an all expenses paid, 2 nights, 3 days Yoga and wellness weekend as VIP guests of Shilpa Shetty.

Similarly, those startup entrepreneurs looking for expert mentoring, could bid for a mentoring session with Anupam Mittal of People Group.

So while some personalities will conduct mentoring sessions for startups and businesses, some will come in to leverage their specialty. Other proposed experiences include enabling users to meet and greet sports stars and screen idols, get romantic meals cooked by Michelin Star chefs at home, attend mentoring sessions by business tycoons, and get internships with top companies from India and all around the globe.

Currently, the website lists more than 75 unique experiences. For dreams that are not listed, Uber Dreams has a dedicated section known as ‘You Dream, We Fulfil.’ In this section, visitors and users can express those dreams that are not part of the existing list of experiences to be fulfilled at a future date.

Uber Dreams will soon be launching an app on iOS and android stores as well. Co-founded by Mohit Lalvani, Managing Director of the Mascot Group and Savan Daru in August 2016, the startup was incubated at Antfarm Business Incubators under the company name Dreamatic Innovations Pvt Ltd. It has received $500K in funding from the Mascot Group. The team plans to utilise the investments in expanding the list of offerings and for digital marketing.

Dreams For A Cause

Initially, the company will introduce around five to eight auctions every month. There is no entry or participation fee required to participate in any Uber Dreams auction. Interested users simply need to sign up on the website, verify their account via email, and start bidding. A streamlined vigilance and compliance process is in place to ensure the authenticity of conducted auctions, as well as to ensure the authenticity of the bidders and screen the winner.

The reserved prices for each product/experience will be decided in consonance with the involved celebrities/industrialists.This amount will be visible when the auction goes online. The auction could be open for a variable bidding period – four to five days or more.The startup also has different revenue plan options for the celebrities. However, a part of the auction money – ranging from 10%-100% – will be compulsorily donated towards charity organisations supported by Uber Dreams or those organisations which the celebrity and the bidder want to donate to.

These include charities such as People for Animals, CRY, Voice of Martyrs, Reef Watch Marine Conservation, Virat Kohli Foundation, Wildlife SOS and many other NGOs. In instances when a celebrity wants to entirely donate the winning amount to charity, Uber Dreams will charge a flat platform fee and the rest of the money will go to charity.

The need to tie the platform to charity was important says Savan, as every bidder would want to see that the money they are spending is also being put to good use. He sums up the Uber Dreams philosophy with the cardinal principle that: “Only when you give, do you get.”

Author

Shweta Modgil

Inc42 Staff

Passion for writing and interest in the start-up space brings Shweta to Inc.42. She has prior experience as a Research Analyst in the venture capital/ private equity space and the auto industry. Fiction writing is her other forte and her first book titled One Hundred Days published by Tara Press debuted in 2014.

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