Published in May, 2022
Recently, my attention was captured by an intriguing startup called Probo, which offers a unique platform for trading opinions. They have skillfully gamified and monetized the innate human desire to express their viewpoints. The concept is simple: you can take positions on upcoming outcomes based on your assessment and personal opinions.
The potential market for Probo is vast, as almost everyone enjoys sharing their opinions and beliefs. Whether it's placing a bet on a cricket match or predicting the box office success of a Marvel film, Probo has the ability to appeal to a wide range of users.
The potential market for Probo is vast, as almost everyone enjoys sharing their opinions and beliefs. Whether it's placing a bet on a cricket match or predicting the box office success of a Marvel film, Probo has the ability to appeal to a wide range of users.
What sets Probo apart is its smart business model. Acting as a brokerage firm for opinion trades, they have taken inspiration from industry giants like Zerodha. The advantage here is that users don't even need a Demat account, making the onboarding process incredibly easy.
However, one significant challenge that Probo faces is user engagement. While the onboarding experience is enticing, maintaining user interest over the long term may prove to be difficult. To address this, Probo needs to incorporate a "stick-to-it" factor, similar to the addictive nature of checking real-time progress scores while managing your fantasy cricket team on Dream11 or monitoring stock and crypto prices when trading in those markets. Introducing additional analytics, in-app news blogs for browsing relevant events, opinion pools, and leaderboards, and enabling user comments for every event could greatly enhance engagement, encourage user participation, and add valuable information to the app.
Despite these challenges, I find Probo to be a promising startup with the potential to make a significant impact. Kudos to Sachin Gupta and the entire Probo team for their innovative approach. I'm curious to hear your thoughts on this venture.
PS - It's worth noting that similar platforms like Kalshi and Polymarket have already gained traction in the West and are experiencing considerable success.
Thanks for reading!