It is sometimes amusing when you see your business idea being implemented by some other firm (and also making money from that). One such thing happened today.
"AOL Gets Into Q&A Business, Acquires Israel’s Yedda"
When i saw this news in my reader, i jumped to read the entire story. Apparently, Yedda's modus-operandi is something similar to what myself and my friend Shravan had thought of 2.5 years back(Wednesday, June 22, 2005 7:40:44 PM to be precise). The idea was baptised as "Gyaan.in" and the idea behind that was :
"Gyaan.in deals with the questions that anyone in the world could have about India, and would employ a group of well read researchers in order to send authentic replies to these questions. Through this, we intend to increase knowledge about this wonderful country, increase opportunities for investment in the country, and hence impact most spheres of the economy in the country."
It was a self-sustaining model with an investment of less than 1Lakh. After careful deliberations and some self-introspection we did not go ahead with the idea and dropped it. I do not repent on the decision made and am sure that there are zillion other opportunities to be tapped.
Gyaan.in inspires me even today as it was my first rendezvous with a good business plan and the passion to start "something-of-my-own". This idea was later converted into a Quiz Blog by me which is totally dormant as of now - this was an attempt to bring in all the quizzing cirles in India under a single banner and promote quizzing as an innovative way of Knowledge Sharing.