Proof of Usefulness Report

NowFloats

Analysis completed on 1/26/2026

+675
Proof of Usefulness Score
Category Standard

NowFloats was a verified success, acquired by Reliance Jio in 2019 for ~$20M (approx. ₹141 Crore for 85% stake). At the time of exit, the company reported ~$4.5M in annual revenue and ~56,000 paid merchants, validating the high traction claims. Founder Ronak Samantray is a confirmed Forbes 30 Under 30 honoree (2016). While the project's real-world impact and market timing were exceptional, the submission form itself contains lazy filler text (e.g., 'most people have used my product', 'everyone'), which negatively impacts the Response Quality score despite the project's legitimacy.

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Score Breakdown

Real World Utility+21.25
Audience Reach Impact+12.00
Technical Innovation+9.75
Evidence Of Traction+22.50
Market Timing Relevance+9.00
Functional Completeness+0.50
Subtotal+75
Usefulness Multiplierx0.9
Final Score+675

Project Details

Project URL
nowfloats.com
Description
The NowFloats platform enables businesses to get a location-tagged, active, online presence within minutes using the NowFloats Boost APP or even just SMS!\n\nNowFloats was founded in May 2012 and gets 6M+ consumers/month with over 2,50,000 customers that range from your neighborhood business to Fortune 500. NowFloats is one of the fastest growing local content discovery platforms’ globally. \n\nNowFloats has strategic partnerships with Google (India), Verisign (India/APAC), Microsoft (Africa), AskMe (India) and Sibername (Canada). And Ronak Samantray is in the Forbes Asia 30 Under 30 List for 2016!\n\nNowFloats also runs Digital Desh (DigitalDesh.in) that uncovers the 'Inside the Internet of India' as we drive across India to find the emerging technology trends of businesses and consumers. Follow @DigitalDesh and be a part of this journey.\n\nNowFloats was founded by a team which has previously worked in Microsoft, GE and Saatchi \u0026 Saatchi. Following @NowFloats is a requirement. #Really

Algorithm Insights

Market Position
Strong market validation with clear user adoption patterns
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline