KQingdom – a new social communication app first time in the Indian market that offers its users to collectively own 50% stake in the KQingdom business and future profits. Now, social app users can additionally keep scores with friends and others for fun, while at the same time have real tangible benefits.
Lucky Gupta of KQingdom says that,” The business model of all social apps is driven by their user base, and their continued active participation. Effectively, the users are responsible for their sky rocketing valuations with our personal profile information, network connections, and posting of content, while the chat app just provides a platform. However, users end up being short-changed, while the app promoters and investors mint billions. KQingdom management believes that they are correcting this imbalance by partnering with its Users and forging a strong bond with them.”
The App’s patent-pending algorithms measure user’s app activity on several parameters to determine the individual contribution each user has made towards the growth of the app business. For instance; how early did the user register, number of messages sent and received, time spent in-app, the frequency of use, number of friends joining the app, number of referral credit received from friends for joining the app, the number of likes received and other such activities.
Gupta further added, “In future, the users will be able to collect their rewards in the form of digital money transfer, cash into digital wallet, coupon, discounts, and vouchers, once the company is profitable. The User’s respective profit share at the annual profit declaration will be determined as a percentage of User’s accumulated KQingdom Coins (called “KQins”) over total net KQins of all Users.”
The most interesting aspect of this App though, may be, the permanent nature of receiving rewards periodically (similar to holding equity and receiving dividends annually for life). Users here continue to reap lifelong benefits on their accumulated KQins, without the need to redeem them. The users will also be allowed in the future to sell their owned KQins to interested buyers (similar to selling one’s equity stake to another person). The Users will further accumulate interest over their earned KQins, so that early adopters get a first mover advantage.
The app has three prominent modules Chat, Rank and Photo-Blogging. In the App’s Chat module, other interesting features include doodles, self-destruct messages, sticker maker. The App’s Rank module is an application similar to Pinterest , where people can additionally rank the items collected within galleries, and also follow the global rankings of such galleries based on aggregated rankings of all users. For instance, people could rank their favourite actor, sports star, politician, recipe, DIY etc., and also check global trends. The App can be downloaded from playstore and apple store online.
All in all, this is something very new and unique in the IT and social media where users can find their own stake in the app’s business.