MANAGEMENT ACCOUNTING ASSIGNMENT
GROUP B24
- Kartik Sablok (224), Tapayan Bhuinya (249), Tripti Jakhu (274)
SYNOPSIS
Organization: MyPoolin ( https://mypoolin.com)
Table of Contents
Subject Area 3
Study Level/Applicability 3
Case Overview 3
Expected Learnings & Outcomes 4
Practical/ Social Implications: 4
Supplementary Materials: 5
Subject Area This case pertains to the dilemma faced by the owners of MyPoolin when they decided to expand onto new platforms. MyPoolin is a startup founded by Ankit Singh (FMS Alum) and Rohit Taneja. It was setup in August 2014 and started as online solution for group payments.
The case basically revolves around the decision which the founders had to make when they decided to introduce …show more content…
Started in 2014 by IIT Delhi alumni- Rohit Taneja and FMS Alumni-Ankit Singh, Mypoolin was initially launched as a web application. Soon after its launch, the company earned a revenue up to INR 10 lakh in the first four months giving it a positive kick start.
The company was started with the aim of solving the, “Money pooling paradox”. People often go for social as well as professional meetings to various places to eat, watch movie and other entertainment activities etc. The aim for all such activities is to improve bonding however one person (usually the organizer) often ends up with the responsibility of collecting money contributions from all others. This in turns ends up in embarrassing situations of chasing your friends for money which contradicts the aim of having a get together. To solve this paradox, Mypoolin provides a technology friendly method to pool money. Here user can create an upcoming event and invite his/her friends to join in, the friends can then opt-in/out and when the attendees are finalized everyone can effortlessly do a smooth transaction of money via any payment
GROUP B24
- Kartik Sablok (224), Tapayan Bhuinya (249), Tripti Jakhu (274)
SYNOPSIS
Organization: MyPoolin ( https://mypoolin.com)
Table of Contents
Subject Area 3
Study Level/Applicability 3
Case Overview 3
Expected Learnings & Outcomes 4
Practical/ Social Implications: 4
Supplementary Materials: 5
Subject Area This case pertains to the dilemma faced by the owners of MyPoolin when they decided to expand onto new platforms. MyPoolin is a startup founded by Ankit Singh (FMS Alum) and Rohit Taneja. It was setup in August 2014 and started as online solution for group payments.
The case basically revolves around the decision which the founders had to make when they decided to introduce …show more content…
Started in 2014 by IIT Delhi alumni- Rohit Taneja and FMS Alumni-Ankit Singh, Mypoolin was initially launched as a web application. Soon after its launch, the company earned a revenue up to INR 10 lakh in the first four months giving it a positive kick start.
The company was started with the aim of solving the, “Money pooling paradox”. People often go for social as well as professional meetings to various places to eat, watch movie and other entertainment activities etc. The aim for all such activities is to improve bonding however one person (usually the organizer) often ends up with the responsibility of collecting money contributions from all others. This in turns ends up in embarrassing situations of chasing your friends for money which contradicts the aim of having a get together. To solve this paradox, Mypoolin provides a technology friendly method to pool money. Here user can create an upcoming event and invite his/her friends to join in, the friends can then opt-in/out and when the attendees are finalized everyone can effortlessly do a smooth transaction of money via any payment