Today's Entrepreneur: Plamen Petrov

Kristin Karaoglu · October 22, 2012 · Short URL: https://vator.tv/n/2b18

No. 1 mistake: Not having a detailed business plan

Today's Entrepreneur is Plamen Petrov, founder of Offerbus. Offerbus provides outstanding tools for developers to optimize their application monetization, increase user engagement, and incentivize desired user behaviors, such as recommending and sharing.

(Offerbus is one of the promising startups competing to be one of the top 10 finalists to present on stage at Vator Splash NY in December. If you want to see Petrov on stage, or another startup in the competition, vote for them here.)

Vator’s community is the home to entrepreneurs who embrace their passion and follow their dreams. Our profiles allow members to express themselves by sharing their interests, lessons learned, as well as bits and pieces of their roller-coaster journey.

These profiles give entrepreneurs an opportunity to showcase themselves and tell their story. So if you are an entrepreneur, a serial entrepreneur, or even an aspiring entrepreneur, we'd like to hear from you.

I am a(n):
Entrepreneur

Companies I've founded or co-founded:
Offerbus, mobiPe, Mobileplay

If you are an entrepreneur, why?
To make a difference in the mobile space and create value.

My favorite startups:
SkyTran, Azumio

What's most frustrating and rewarding about entrepreneurship/innovation?
The fact that once an app or web experience is created and live, it feels as if something new has been born, something has been created from scratch and being part of it is rewarding and motivating.

What's the No. 1 mistake entrepreneurs make?
Not having a detailed business plan for the long run and hoping that they will be able to figure things out as they go.

What are the top three lessons you've learned as an entrepreneur?
1). Be passionate about what you are doing and do not give up on your idea easily.
2). Finding an experienced mentor is critical.
3). Build and cherish personal and professional relationships at each opportunity.

(Want to be profiled? Just fill out your Vator profile and we'll find you! Or you can email newsroom@vator.tv)

Kristin Karaoglu

Woman of many skills: Database System Engineer; SplashX event producer; Author of Startup Teams

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Related Companies, Investors, and Entrepreneurs

Offerbus

Startup/Business

Joined Vator on August 31, 2012

With 700,000 apps in both the Apple and Google Play stores, competition to get installs is fierce. But unless you are a highly addictive game, an even bigger challenge is getting customers to use your app after it’s installed. Brands spend millions to acquire app customers but fail to keep them engaged and active and are unable to maximize ROI.

Offerbus addresses the problem with a turnkey, easy to integrate engagement platform that combines notifications, virtual currency rewards and a digital goods redemption marketplace. Developers can use the platform to engage, incentivize, retain and, if needed, monetize users.

Adapting a behavioral model developed by Stanford’s Persuasive Technology Lab, Offerbus help brands and developers seamlessly integrate an engagement fabric into their existing application experiences. Customizable, personal trigger notifications combined with a virtual currency rewards maximize engagement and retention by encouraging and rewarding habitual use.

Our platform also incentivizes the sharing of those engaging experiences across social media. This both reinforces usage (the more friends and family you have using an app, the more likely you are to retain and use it yourself) and increases free distribution opportunities giving marketers a double return on ROI.

For those developers who want to leverage our platform for monetization as well, Offerbus provides a mediated offer wall solution which brings together multiple offer providers This allows customers to shop for personalized deals and earn additional rewards.

Competitors include Badgeville, Pocketchange and Bunchball. A handful of carefully selected customers are testing out or in the process of integrating our solution. We are self-funded.

Plamen Petrov

Joined Vator on May 22, 2011

Co-founded Mobileplay, a mobile community portal and advertising-supported network for mobile content delivery.Lead a stellar engineering team and designed a system, scalable for million+ daily users.