I got an opportunity to speak with Mr. Pushpendra Thakur, Cofounder at Mishtag. This was through an event conducted by 91 Springboard. He was overall happy with the idea and felt that there is a genuine need for it. He also said that using a top down approach was a good way to approach this category.
His advice to me was to focus on 3 things primarily.
Getting Initial Buyer Postings – He felt that if we can get initial buy side leads/posts, getting sellers would not be a big problem.
User Stickiness – He said that since the app is meant for students initially, building stickiness or repeat usage would be a challenge.
Spam – He felt that if not currently, moderating spam postings would be a challenge we will need to address at a later point in time.