Startup Sunday || Season 3 Episode 28 || Simple Habit

“To understand the immeasurable, the mind must be extraordinarily quiet, still.” 
― 
Jiddu Krishnamurti

Isn’t it very often an incident, where you promise yourself a good fit body by “ritually” saying, “I’ll hit the gym and exercise regularly from this coming Monday”? Or decide to study passionately for exams from “tomorrow” onwards? And there are tons of other promises and plans made. Everyday. Every week. Every year. But, that “tomorrow”, that next “Monday”, never really seem to arrive.

They say, to achieve something, one needs to be mentally strong. So how do you make yourself muscular, mentally, in this fast-paced life full of stress, failure, that can even lead to depression at times. One solution is, you start with a “Simple Habit” of meditation, everyday.

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Yes, you guessed it right, on this start-up Sunday we’ll talk about a start-up that promises you mindfulness with just a few minutes of using it everyday. Hence, “Simple Habit”! Yeah, analogical!

Introduction of the Idea:

Simple habit was founded by Yunha Kim in 2016. Yunha, a former wall street investment banker, saw herself under extreme stress after failing in her first start-up venture called Locket, due to which she turned to meditation. She began with meditating everyday for a few minutes and saw positive results in her personal and work life, after which she decided to start Simple habit to help busy people, like her, to experience the benefits of mindful meditation.2

Fund Raising:

After launching Simple Habit, Yunah Kim made an appearance in the famous American reality show called “shark tank” as a contestant to raise money but failed miserably. Even after such setbacks, she didn’t look behind but went on to raise more than $3 million dollars from some of the prominent investors. Simple habit is Backed by Y Combinator, New Enterprise Associates, and many other prominent Silicon Valley CEOs including Dropbox’s CEO Drew Houston and  CEO Joshua Reeves.

About the application:

According to its founder, what makes Simple habit different from its competitors is the fact that it has different expert instructors from all around the w3orld to guide users about different situations including  more than 1000 sessions for, say, “when you feel blue or nervous before an exam, or nights when you can’t sleep, or you need some motivation to get started for the day, and much more”.

Revenue Model

Simple Habit runs on a subscription model, charging $11.99 a month or $99 a year for premium access to all the guided meditation sessions. And it shares its revenue with the mindfulness teachers who provide the content, splitting things based on the popularity of their sessions.

About the competitors

Today, in such a short span of its foundation, Simple habit has become one of the topmost competitors with estimated revenue of more than $1.5 million, in the market which already has some big old players, namely, Calm, Headspace, BuddhiFt, etc.

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Well, this journey itself is a testament to how mindful meditation can help one progress in life with a positive attitude, that in turn can help in achieving whatever one wants to.

So, what are you waiting for?

 

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