Altruist Technologies, established in 2005 has added a Mobile edge to over 100 Million consumers across 45 countries through its subsidiaries: Mobile2win, Teligent, Phoneytunes, Bubble Motion, iConnectiva, SoftProdigy, RelayStrategy, and Info2cell.
Bootstrapping to Startup
Founded in 2005 by brothers Dheeraj & Anuj Aggarwal, Altruist started with a host of voice-based entertainment offerings for mobile subscribers in partnership with telecom operators in India. Started on the first floor of their house, Altruist was bootstrapped with no external financing. Altruist focussed on the Voice based Content and Entertainment space even though this required significant capital and had a longer gestation period compared to SMS and data solutions which were more popular with start-ups of the time. A simple, intuitive and consumer-centric voice based Mobile Social Network did wonders for Altruist. Altruist understood the available ecosystem and with excellent consumer insights and operational efficiency built a very formidable business which in about 4 years spread to all mobile networks in India and some markets in South East Asia and Africa.
Growing the Inorganic way
The economic crisis of 2008 and 2009 spelt doom for a lot of technology and media companies. Taking advantage of the downturn Altruist embarked on an aggressive acquisition strategy acquiring Mobile2win in early 2009. Mobile2win with over 100 people was a pioneer in managing the mobile presence for most leading media groups in India like HT, Indian Express, Sakaal, Sony. It was managing the mobile strategy for over 200 brands including Coke, Pepsi, HLL, P&G and also had mobile rights for various blockbuster movies like; Sholay. The quick and substantial turn-around in Mobile2win gave Aggarwal’s a new strategy for growth and the confidence to acquire larger and more varied targets in multiple geographies.
Over the next 6 years, Altruist acquired 6 other companies in India, Europe, and the Middle East most much older than and some even larger than Altruist itself. When most Mobile VAS companies were struggling to survive due to an onslaught of unfavourable regulation and a constant squeeze from telecom carriers Altruist with its cost advantage and nimbleness kept accruing enough cash year on year to acquire new companies and turn them around successfully.
‘Success Secrets’ by Anuj Aggarwal
Bubbly for Institutions and Enterprises:
Bubbly is a Closed User Group Social Media Platform for Enterprises and Institutions like schools, colleges etc. This allows institutions to offer an internal communication platform for stakeholders like management, shareholders, and employees of a corporate, student, and faculty of university etc. Bubbly as an app offers all in one total solution for apps like Facebook, Twitter, and Whatsapp but for only people within an organization. It was rated amongst the most potential Social Media App in 2015 by Forbes. Bubbly (the sound made by the forming and bursting of bubbles) is free for organisations to use. It allows the unlimited number of people in a group with all kind of engagement features and technical capabilities of any kind of file transfers, interworking with enterprise automation software’s, personalization, and white labelling.
Building and Managing State of the Art Robust IT Solutions:
Altruist brings rich experience gained from customer engagements around the world delivering Technology-driven Business Solutions, that meet the Strategic Objectives, deliver applications in the field of Online Recruitment Portal (consists of Online Candidate Registration, Online Admit Card Issuance, Verification of Documents & Application Form, Inquiry Handling, Mailing System, and SMS alerts), GPS enabled Vehicle Tracking Systems & PIS Display Boards for Bus Stands (used for both Vehicle Tracking and Navigation), Website Design and Development, Online Driver’s User Manual and Online Driver’s Knowledge Test Application, Online Project Monitoring & Information Systems using Mobile Technology (WAP), Mobile Based Applications, Content Management, Smart Card Solutions, Automatic Calling & Accounting Systems, e-speech Applications (e Sanchar & I-Fact), IT Enabled Automated Citizen-Based Transparent Status Software, and IP- Enabled Outdoor Wireless City Surveillance Solutions.
Revenue Assurance/Fraud Management/Big Data & Analytics:
iConnectiva a subsidiary of Altruist is a very well known pioneer in the Revenue Assurance and Fraud Management space. With increasing digitization every organization needs to put proper checks and measures to identify any leakages and pre-empt any fraudulent practices which could drain out resources. The iConnectiva platform allows to putting probes into various input sources and transactional elements of a business to monitor the effectiveness of various resources. For instant analyzing authenticity of all billing and charging in telecom carriers which is currently deployed with over 25 Telco’s worldwide.
The platform uses Big Data techniques to quantify, analyse, and then optimize all elements in various kinds of enterprises.
Enterprise Mobility Solutions:
All enterprises can derive humungous value from deploying relevant mobile solutions for enhancing their Revenue and for reducing their Expenses. Digital tools using Altruist mobility suite are enabling corporates solutions in various domains and verticals. Some examples are Digital Marketing Campaigns for FMCG companies, Digital Loyalty Programs targeting customers and influencers in Automobile Lubricants, Checking Counterfeiting for the pharmaceuticals. For all of these besides the technology platform, Altruist takes responsibility for Campaign Design, Process Changes, Change Management, Analytics, Improvement and ongoing upgrades to technology.
Product Development for Startups
SoftProdigy another subsidiary of Altruist partners with start-ups to do their end to end product development leaving them to focus on setting up and managing operations. Softprodigy brings all web and mobile development expertise and works with Startups on BOT (Build Operate Transfer) model making it an easy engagement most suited to the instant high-octane development needs for a new startup.
Telecom VAS Solutions
Value Added Services used for helping communication services providers deliver innovative applications for Entertainment, E-commerce, and Enterprises. Comprehensive VAS application solutions covering the entire gamut of Telecom Service Provider, Content Provider, and Application Vendor Requirements, which includes Voice Based Services, SMS Based Service, Jukebox, Horoscope, Job Portal, Downloads, Matrimonial, Social Networking.
Altruist has 432 people strong team with a rich experience, pioneer of Mobile Voice Chat Services in India, it provides various mobile based phone services like -Mobile Advertising Services, Mobile Navigator, Network Services, Call Completion Solutions, Enterprise Services, Mass Calling Systems, and Real-Time Charging Enablers, as well as Hosts and Manages Voice Infrastructure for leading Content Owners and Distributors. Company’s first kind of Jobs is on Phone Service to reach and cater every individual & community.
Altruist Technologies offers various services in Voice Magic, Mobile Voice Chat, Mobile Navigator, Mera Hello Tune that allows users to compose their own caller tunes, Mobile Social Networking, JobsonPhone, Jukebox and Matrimonial Services. The company also offers Horoscope Calls, Mobile Astrology, cRBT that allows callers to assign a Song or Music of their choice as caller tune, Music on Demand that allows users to dial and Listen to Songs, Dial in Infotainment, a solution for Mobile Entertainment, and Televoting Services.
Mr. Anuj Aggarwal, Cofounder & MD of Altruist Technologies, has a very simplistic approach to business. He believes in creating an enabling environment for people. He did his business studies from CBS, the University of Delhi followed by a Masters in Finance.Alongside,he worked with various trading businesses picking up vital people skills and commercial acumen.
“Determination & quick decision making helped a lot as no decision is right or wrong and it is just the timing and then its execution, which makes it go wither way” says Anuj.
Additionally, he says, “Some tough decisions along the way paved the pathfor us. Having seen substantial success within 6 months of starting up, Altruist had some competitors and venture funds making aggressive offers to acquire their product and technology for a substantial sum. Taking those offers would have meant quicker roll out through the relationships, money muscle and presence of the acquirer but would have meant losing control and compromising on the nimble austere culture which defined Altruist. We chose to avoid these distractions and built a strong foundation of growing revenues and substantial cash flows.”
Indian companies have been very successful in the software services space but have had little or no success on the software solute/solutions/products arena. Altruist has embarked on a journey to change that and be a force to reckon with in the Product landscape. The initial successful launch and expansion of its products/platforms in multiple geographies are an encouraging indicator of things to come.
Altruist Technologies continues to focus on Inorganic Growth through acquisitions. They are evaluating some mid-sized companies across sectors to add to their portfolio. The contours are to look for companies which have stable, reliable revenues but which do not have much EBITDA margins. Acquiring such companies and putting in a nimble operations framework is a strategy which has worked for Altruist multiple times. They would want to replicate the past success on bigger and multiple targets leading to aggressive growth.
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