Vikas Reddy and Jeffrey Powers came up with an innovative price checker app called RedLaser. Red laser is an app that lets iPhone and Android users scan barcodes of a product and search the Web for product prices.
It is a free scanning application that has been downloaded over 8 million times. Say you’re in Best Buy and want to make sure you’re getting the best price on the latest high-end TV. Just scan the barcode and let RedLaser do the comparison shopping for you.
They sold RedLaser to eBay for a rumored $10 million dollars.
What you could learn from this episode:
- How both the founders met.
- What was their first business idea
- How their mentor showed them that their idea is not good
- How they got the idea for their second idea.
- How they turned their failures around
- What they did when apple did not list in the app store.
- How they got the idea for Redlaser
- How they pivoted to a different use for their app, when initial usage was very low.
