At the thought of blogging about entrepreneurship, I figured who is better to blog about than someone my age.
Brian Wong, a nineteen year-old fellow Sauderite, is working on launching a new mobile gaming-ad start-up named Kiip, which raised $300,000 in funding
Kiip exhibits many entrepreneurial qualities. To illustrate this, I will compare Kiip to a fictional small convenience store.
High Aptitude to Pioneer Change and High Risk
Kiip distinguishes itself by not focusing on the virtual goods model, despite an 80% increase in the overall sales of virtual goods in games, reported earlier this year by Flurry Analytics. While the freshly appealing operation concept of Kiip’s may attract attention, it is highly risky considering the growing trend in virtual gaming goods.
On the other hand, a small convenience store is not radical at all, does not press for change and endures lower risks
Speed and Amount of Wealth Creation
As if Oct 29th 2010, Kiip, with a funding of $300,000, has reported five game publisher partnerships and 2 million monthly active users.
A local convenience store would probably require sometime to gain a customer-base as it takes word of mouth and actual visits for the store to be remembered.
Innovation
A convenience store would probably follow a predictable style and format of operation whereas Kiip has a high innovation to revolutionize the way game developers profit from in-game ads.
As for its method, we can only wait and see until it officially launches.
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