Ping X provides useful and tailored information for the customers about their surroundings, in any location and at any time, from the safety-related perspective to local businesses and opportunities.
CEO, Crazen Zigic
Name: Ping X Inc.
Location: Los Angeles, California, USA; Zurich, Switzerland
Website: http://www.get-ping.com
Product / Service Offering: Software
Co-founder Interviewed: Drazen Zigic
Other Key Management Team Members: Ivana Zigic, Stefan Serbedzija
This article is part of our Business Startup Spotlight Series featuring entrepreneurs and their companies. We hope that these founders’ interviews will inspire and motivate you as you undertake your own entrepreneurial journey.
Tell us a little about yourself with a focus on what motivates you.
Ivana and Drazen
I come from a family of engineers. My wife, Ivana, co-founder of Ping, is also an engineer. I started my first “venture” at the age of 9, by renting handheld Tetris device to neighborhood kids. From there, I had many different small ventures, organized events, and concerts. I was even president of a student union. I wrote several film screenplays, unfortunately, none are produced so far, and participated in the film market of Cannes Film Festival for a few years. Also, I was one of initiators and president of the regional fashion event in Bosnia and partner of Miami Fashion Week. I have worked in many different industries from media, IT, pharma to semiconductors. I like to write, read, and talk and work with impressive people.
When did you establish your company and where did the idea originate?
The idea was born on the day of the terrorist attack in Paris, France, in November 2015. It made us think in the direction of utilizing current technology to help people discover information at the right time and in the right location. Over the next 12 months, we developed the concept, validated the idea, built the prototype and finally went into the development of the first MVP. Ping X was established in March 2017.
What need or needs does your company seek to fill for its customers?
Ping X provides useful and tailored information for the customers about their surroundings, in any location and at any time, from the safety-related perspective to local businesses and opportunities.
What is the one thing that sets your company apart from its competitors?
We are building an ecosystem of related products, which work in unison and provide AI-powered smart information.
What was the biggest challenge you faced while getting your company up and running, and how did you overcome it?
As we are in the early stage of our startup, we face several challenges. The biggest one is to get the users to hear/discover our application in a sea of other applications with no marketing budget available. Ping X has been installed by over 40,000 users so far by applying different tactics. We have involved beta-testers early enough, engaged users, produced small marketing campaigns on social media and has reached out to the media.
Are there resources you have utilized that other founders might find compelling or useful?
This depends on the product. If they are building an application, I recommend starting with beta tester communities early in development. This helps to improve and better shape the product because you start getting very valuable feedback.
What steps have you taken to secure funding for your company and what, if anything, would you do differently if you had to start over?
We reach out to investors, mostly angel investors because we are in the early stage. Also, Ping X involves influencers, people who are well connected and in general anyone who can help. In parallel, we daily improve our pitch deck and the product itself, because it is the most important, of course.
If we had to start over, I would have strongly liked for Ping X to start building and testing the product sooner. The best proof for any investor in the early stage is the successful product itself.
Have there been any questions you have had as an entrepreneur of a fledgling startup that you had a particularly hard time finding the answers to?
How do you make a day longer than 24 hours!
What challenges, if any, are you grappling with?
Ping X’s challenge is raising enough money to improve the product and reach the users.
6 Startup Lessons Learned from Previous Mistakes
What is the most helpful tip or “hack” you’ve ever learned, stumbled across, or been given?
When starting, do not overthink, focus on the product, validate it fast and start building. You must always be persistent.
Is there anything else you would like to share about your company?
Ping X Inc. is building a global system that keeps users aware of their surroundings at all times, in all situations and recommends smart actions.
Are you familiar with other startups you believe should be spotlighted? If so, we would like to hear from you. Tell us about them, sharing in your comments below!</em/>
Sandra Sloan
Sandra has previous supply chain and business operations experience which she is leveraging as an author with FundingSage focused on spotlighting entrepreneurs and their startup efforts.
