Loqation is a social platform to interact with other people, based on their location. It allows you to find answers to your queries locally, so you can post your question and get answers in real time. Basically, the idea of Loqation is to bring your neighbourhood experience online, so that you can socialize with others in your locality. Like on Facebook, Loqation also has a news feed, but instead of showing updates from your Facebook friends, it shows updates from you neighbours. It’s basically a similar model to Quora, but is based on your location. And it has other applications – for instance, if a theater owner in a particular locale is unable to sell enough tickets, he can publish a loqation post for his area saying that tickets are at a 60% discount. So basically any time-sensitive query or announcement in a particular location can be posted on Loqation, and you should be able to garner a response.
Ashish Jindal is an IIT Delhi graduate, and worked with Amazon before co-founding Loqation with Puneet Gupta, who attended PEC Chandigarh and worked with investment banks such as BNP Paribas and Nomura before Loqation. The duo started a mobile application company, CodeYeti, and built Loqation as their own product along with it. Loqation was built to address the need for a digital platform on which you could find answers to local queries, which can’t even be answered by Google. The inspiration was based on the numerous questions that arise when one is in a particular place, and doesn’t necessarily have the requisite tools or connections to address those. For instance, when you’re in a new place, you’ll have questions about things, and Loqation seeks to be a platform on which to ask those questions and get a timely, relevant response. Currently, Loqation is focused on gaining user traction over creating revenue, but future models could include targeted advertisements and listings for businesses, and Puneet and Ashish believe that this has a large scope for monetization. And Loqation basically targets anyone with a smartphone, so it should be easy to achieve widespread traction in due time, given that there’s no similar local platform.