The Future of Fan Engagement
Vaidhy Murti discusses his entrepreneurial journey, the evolution of WIT, overcoming challenges, and the future of fan engagement, offering valuable insights and advice for aspiring tech entrepreneurs.
Vaidhy Murti is a name that resonates with innovation and resilience in the tech industry. As the Indian-American CEO of WIT, a pioneering enterprise software company specializing in fan engagement and consumer data, Murti has carved a niche for himself by working with some of the biggest names in sports and entertainment. His journey began in 2018 when he founded WIT, and since then, the company has collaborated with brands, venues, and sports teams across major leagues such as the NFL, NBA, NHL, and more.
A New Jersey native and Princeton graduate, Murti’s entrepreneurial spirit was evident early on. At just 21, he became the youngest entrepreneur to secure funding from Lerer Hippeau Ventures. His previous ventures, including Friendsy and DonorUP, have equipped him with invaluable insights that he now leverages to lead WIT. Recognized with the Tiger Entrepreneur Award in 2018, Murti’s contributions to the tech and entrepreneurial landscape have been widely acknowledged.
In this exclusive interview with Entrepreneur Prime Magazine, Murti shares his experiences, challenges, and the lessons learned from his dynamic career. From the early days of Friendsy to the innovative strides at WIT, Murti’s story is one of perseverance, adaptability, and a relentless pursuit of excellence. Join us as we delve into the mind of a visionary who continues to shape the future of fan engagement and beyond.
As a young entrepreneur who has successfully pivoted from one venture to another, what key lessons did you learn from Friendsy that have shaped your approach to leading WIT?
Our vision with Friendsy was to help foster connections between college students, and we executed to the best of our ability, making 3 million matches between 300,000 students over the course of 6 years. Friendsy taught me to be open to rapid iteration based on market feedback and the value of deeply understanding your target audience in order to find long-term success. The biggest takeaway was the importance of building a passionate team unified behind a strong vision, which has shaped my approach to leading WIT.
The sports and entertainment industry is constantly evolving. How do you stay ahead of trends and anticipate the future needs of your clients in fan engagement?
We are a team of massive sports fans energized by the fast-paced environment of the sports and entertainment industry. We are deeply committed to the success of our partners, and we regularly share valuable industry insights and trends we come across in the course of our business. Many of our best product ideas are sparked by conversations we have with our partners. It is incredibly fulfilling to work hand in hand with partners to help bring their visions to life through our platform – each partnership serves as a learning opportunity for us where we always welcome feedback. To stay ahead of the game, we foster a strong internal culture of innovation and iteration where anyone on our team can pitch ideas for future growth.
What has been the most significant challenge you’ve faced as CEO, and how did you overcome it?
Everything seems to take longer than you initially hope for. I started WIT in 2018, and it took us over 4 years (and 3 major pivots) to finally become profitable in 2022. Despite reaching profitability, I didn’t personally break even until the end of 2023. The most significant challenge I faced during those years was trying to figure out how to create enough runway for us to hopefully take off at some point in the future, but the most challenging part was the mental possibility that it might never happen despite our best efforts. It takes a village, and I’m incredibly grateful for my family, friends and early team members who helped me continue to persevere every step of the way.
You’ve worked with major brands and sports leagues. Can you share an example of a particularly challenging client request and how your team innovated to meet their needs?
We have experienced many challenging partner requests over the years, but we pride ourselves on being solutions-oriented and up for every task. A couple of years ago, a major league office gave me a call asking us to design and develop a custom arcade-style game for them accompanying a huge commercial they were going to launch at a major tentpole event with just a few weeks’ notice. While the request itself was audacious, we felt honored to get the call, and we pushed ourselves to the absolute limit to deliver an unforgettable fan experience that exceeded all expectations.
How do you incorporate feedback from users and clients into the development and improvement of WIT’s platform?
Our partners are the most valuable part of the feedback loop that leads to the constant improvement of WIT’s platform. We actively welcome and request feedback in partner calls, annual recaps, and our monthly newsletter. We prioritize feedback on our product roadmap based on the potential impact and reach of the potential enhancement. We are deeply grateful to our partners for pushing the boundaries of fan engagement with us every day.
What role do you see AI and machine learning playing in the future of fan engagement, and how is WIT preparing for this?
We recently announced the launch of our Fan AI platform, which provides teams with unparalleled fan insights and comprehensive revenue-generating opportunities across the organization. We are bullish on the role of AI in the future of fan engagement, and feel that it will lead to more 1:1 personalization opportunities with fans than ever before. We are excited for the future of AI, and we are investing heavily in new product verticals to fuel innovation.
