Biography of Mahen Ratnayake: Founder of Katha App - Entrepreneur
Biography of Mahen Ratnayake:
Entrepreneurship is a daunting journey filled with
unpredictability, capable of instilling fear even in the most resilient
individuals. Those who embark on this path gamble everything on the hope that
their idea will succeed, knowing that many will walk away defeated. However,
for some, like Mahen Ratnayake and Mudith Uswatta, founders of Katha, their
idea strikes gold, defying the odds.
Katha: Redefining Social Media Through Voice
Katha is a groundbreaking social media platform centered
around voice communication. Users can engage privately with friends or publicly
with followers through short voice messages known as voice casts. Imagine
Twitter or Snapchat, but for voice—a platform that reimagines podcasting,
empowering users to leverage their voices for impact. Katha also introduces
monetization opportunities through paid channels, enabling creators to earn
from their content by offering exclusive interactions with their audience.
Katha: Revolutionizing Social Media Through Voice
Mahen Ratnayake, alongside his partner Mudith Uswatta,
launched Katha, a pioneering social media platform that diverges from
traditional text-based communication by allowing users to share and collaborate
via voice casts, akin to interactive podcasting.
The Origins of Katha
The journey of Katha began in 2013 when Mahen and Mudith
participated in the "HSBC Youth Entrepreneurship Awards." It was
during this competition that they forged a partnership and embarked on
developing the concept for Katha during the Colombo Hackathon.
From Idea to Impact: The Journey of Katha
It all began at the HSBC Youth
Entrepreneurship Awards in 2013. Mahen was there pitching a carpooling app,
while Mudith observed from the sidelines. Their paths crossed again in April
2014 at the launch of a crowdfunding platform, Crimso, where they finally
connected and became friends.
A few months later, over drinks, Mahen and Mudith learned
about the upcoming Colombo Hackathon. Despite lacking a prepared idea or
prototype, they decided to take the plunge and register. The next day, at the hackathon,
surrounded by well-prepared teams, they hastily conceived a concept for a CRM
for social life and pitched it. Against the odds, their pitch impressed the
judges, winning them a spot among the winners and catching the attention of the
Lankan Angel Network, who ushered them into Venture Engine.
Embracing Uncertainty: The Rise of Katha
Entrepreneurship is a challenging journey fraught with
uncertainty. For Mahen Ratnayake and Mudith Uswatta, founders of Katha, it was
a leap of faith that paid off. Katha, a social media platform centered around
voice communication, emerged from their journey. Users can communicate
privately with friends or engage publicly with followers through short voice
messages known as voice casts. It's akin to Twitter or Snapchat but for voice,
offering a unique twist on podcasting and enabling users to monetize their
content through paid channels where followers can pay to interact.
Since its launch, Katha has gained significant traction,
becoming one of the top apps on both the Play Store and iTunes. This is their
story—the story of how Mahen and Mudith turned an idea born out of a hackathon
into a thriving platform that resonates globally.
Biography of Mahen Ratnayake: Founder of Katha App- Entrepreneur/Startup/ collaborate with their followers via voice casts instead of texting
Katha Today and Beyond
Today, Katha stands as a testament to the entrepreneurial spirit. What began as a serendipitous meeting and a daring hackathon pitch has evolved into a platform that empowers users to amplify their voices and cultivate meaningful connections. As Katha continues to innovate and grow, Mahen and Mudith remain committed to expanding its reach and impact, shaping the future of social media through the power of voice.
Building Katha: From Concept to Company
After their success at Venture Engine 2014, Mahen and Mudith
faced the daunting task of turning Katha from concept into a fully-fledged
platform. Despite their initial funding negotiations taking nearly a year, they
eventually secured the necessary investment by February of the following year.
This funding, coupled with an office space provided by the Lankan Angel Network
incubation space, marked the beginning of their journey to build a company
around Katha.
However, challenges persisted. Mudith continued to juggle
responsibilities at a software development company while Mahen completed his
degree at APIIT. This delayed their full-time commitment to Katha.
Complications with foreign investors further added to their hurdles.
By early 2015, with signed agreements and financial backing
secured, Mahen and Mudith were ready to establish Katha as more than just an
idea. Despite their lack of prior experience in building a company, they were
fortunate to find mentors within the Lankan Angel Network—Eric Wikramanayake
and Prajeeth Balasubramaniam—who guided them through the complexities of
entrepreneurship.
With the support of their mentors, Mahen and Mudith began to
delineate their roles and responsibilities. Their first crucial task was to
assemble a team of developers and transform Katha from UI designs into a
functional app. Despite having no code written after their successful pitches,
they quickly recruited freelance developers and, alongside a small team,
commenced the development of Katha.
Nurturing Katha: Overcoming Challenges and Achieving
Milestones
The early stages of Katha's development were marked by
intensive testing and iteration, ensuring the app's functionality aligned with
their vision. Mahen and the team worked tirelessly to refine the platform,
addressing technical challenges and incorporating user feedback to enhance user
experience.
As Katha took shape, Mahen and Mudith navigated the
intricacies of scaling a startup. From refining their business model to
expanding their user base, each milestone brought its own set of challenges and
opportunities. They leveraged their network and the expertise of their mentors
to navigate these hurdles, steadily steering Katha towards broader recognition
and adoption.
Looking Ahead: Katha's Evolution and Future
Today, Katha stands as a testament to Mahen and Mudith's
perseverance and entrepreneurial spirit. From humble beginnings at hackathons
to a prominent position in the social media landscape, Katha continues to
innovate, offering users a unique platform to communicate and monetize their
voices.
As they look to the future, Mahen and Mudith remain
committed to Katha's growth and impact. With a solid foundation laid and a
supportive network behind them, they are poised to explore new avenues, expand
their reach, and solidify Katha's position as a trailblazer in social voice
communication.
Marketing to Content Creators
Mudith, focused on marketing Katha to content creators,
understood the importance of attracting users through great content on social
media platforms. His background as a stock broker led him to initially approach
the stock market industry, recognizing its potential for quality research
content. The first company they approached was Frontier Research, known for
producing detailed research reports for high-end investors. Frontier Research
saw an opportunity to reach mid and low-range investors through Katha's
features and became the first beta channel partner. Shortly after, Verite Research,
associated with Manthri.lk, also joined as a beta channel partner, bringing
serious researchers on board.
Engaging Content Creators and Public Appeal
With serious researchers secured, the next step for Katha
was to attract content creators who could appeal to the general public. One of
their successful approaches was to collaborate with Yamu, a platform receiving
numerous inquiries daily without a monetization strategy for answering these
questions. Katha introduced paid channels, and Yamu eagerly signed up as a beta
channel partner, seeing the potential to monetize their informational services.
Launch of the Beta Version
By September 2015, Katha had gathered a few beta channels and was shaping up with a promising app. With the pieces falling into place, they made the decision to launch the beta version of Katha, marking a significant milestone in their journey to revolutionize content creation and engagement.
Evolution to ShortKast
Recently, Katha underwent a significant transformation and
was rebranded as ShortKast. This new iteration reflects enhancements and
lessons derived from the original Katha platform. Currently, ShortKast has
launched its beta version, introducing a fresh and refined app experience to
its users.
