I recently wished for a Macbook but couldn’t buy for obvious budget reasons. That is a fact but what if my wish comes true. How about if I find a bunch of like-minded Mac lovers who also wish to buy a Mac like me. Chances are that we will be able to buy a product at a much better price from the seller. A concept that we have seen present in offline while buying property. A group of US returned software folks ganging up and getting a good deal on group buying.
But then we all know what kind of crisis group buying sites are going through and they provide you deals on generic basis. How about I choose what I wish to buy, get along with like-minded people and make merry out of group buys. Tyche’d pronounced as “Tai-Kee” is like that genie who will make all your wishes true. Tyche’d aims to enable users to leverage power of Social Graphs in the real world. So you make a wishlist, Tyche’d finds out who are those friends that have common wishes and makes an offer to you to indulge in group buys among your social community.
Pravin Jadhav, Founder of Tyche’d had this to say:
“Tyche’d connects a prospective buyer with more buyers thereby shifting the power of negotiation to consumers. Social graphs for people are now established, we are building social graphs for purchase intents & user interests in a very local context. With users spending more time on social networks, social discovery platforms are strong contenders to search.”
How does Tyche’d Work?
Tyche’d allows you to log in via Facebook and you are asked to create your wishlist. The choice is yours to either create your login then and there or you can do it later. The product is broadly categorized into Home, My Wishlist, My Lifestyle, Friends and Group Buys. Let’s find out what does each one of them hold for a user.
Home: It’s like your dashboard where you can see all your updates and activities. So you can find out who is joining the network and it also provides you a quick view to update your wishlist, connect to other social networks and of course sending invites to your friends via email. Home screen also provides a snap shot of Social Group Buys, Your Wishlist and your friends on Tyche’d.
My Wishlist: It is your space to make your wishes and for now you can only make wishes for Travel, Car, Gadgets, House and Bike. For example if you want to create a wishlist for travel, then you will have choices like stating your wishlist for your next travel destination in India, next international countries to explore and also if you wish to plan a world long tour. Imagine this situation after few months you find that five friends from Tyche’d are interested in doing the same. Consumers will have the negotiation powers and with added fun of travelling with your known ones. Same way you have lots of sub categories while you create other wishlist too.
My Lifestyle: It is same as ‘My Wishlist’ in the way it works but this list is more of your lifestyle items. Here you are asked to share your thoughts and wishes on ‘My Way of Life’, your ‘Style Statement’ and what does ‘Fun & Play’ stand for you. You have multiple sub sections when you create this wishlist. For example when you click on ‘Style Statement’ you are asked to share your style funda, what is the meaning for excess baggage, how often do you splurge and what does it mean to you.
Friends: It shows you all details about your community. So you can out find how many friends are connected to you, how many requests you have sent, how many pending invitations you have and also lists the various ways you can invite your friends to Tyche’d. While you see your friends connected to you, you can also see that how many wishes a particular friend has made and how many of them match with you.
Group Buys: One of the interesting and remarkable features of this product. Group Buys is the final stage after you have created your wishlist and built a community. Then it is time to reap the benefits of it. ‘Group Buys’ screen has some more categories such as ‘Open & Social Invites’, ‘Matching my Wishes’, ‘Started by Me’, etc. In other words this section tells you the number of Group Buys matching your wishes, Group Buys that have a invitation for me and the ones that have been started me. It’s a small dashboard detailing all the Group Buys in your community.
Right now Tyche’d is live across 12 countries and the focus has been towards English speaking countries. Kulin Shah, Co-founder had to add this:
“Tyche’d replicates the offline consumer behavior in the online world. It currently has local information for over 200+ cities across 12 countries, users will be able to see contextual experience while building their wishlists.”
Apart from being a cool product Tyche’d is a future product. I personally believe that going further social networks would be sentiments driven. Our activities will be more socially driven and a shift from offline to online world. However, few features that I thought I would like to see in future:
1. Can I have a search available in Tyche’d itself that will allow me to create a community depending upon my interests.
2. Can we have better content when being posted on other networks? For example I shared my travel wishlist on Facebook. Now adding the places that I want to travel might get more eyeballs. Not sure if it can be technically feasible.
3. Wish you can change the ‘Group Buys’ settings from city to country. I guess that will create a broader reach for me to connect to more people.
I am sure that folks out at Tyche’d are already working on improvising it and the effort can be seen when you click on log out.
I am optimistic from the day I have heard about the product and would wish to find more about Tyche’d from the founders. In the meanwhile, how about making your wishlist and let’s see if we have some similarity.
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