Hoops

Hoops connects you nearby people for networking
Startup name
Hoops
Web address
Founding date
September 2017
Incorporation
No
Total team member
2
Startup stage
Users
Category
Consumer, Enterprise, Software
Sector
Mobile
Product usage or interact
Mobile/Tablet (iOS), Mobile/Tablet (Android), Desktop
City
Minneapolis, Minnesota, United States

Elevator pitch

Hoops connects you nearby people for networking. It is the mobile and location-based version of the LinkedIn. Hoops auto creates interest and skill-based small groups intelligently without an admin. The market size is 45 Billion USD. We started 3 months ago and now we have both Android and iOS applications. We just made our first customer, a co-working space in Minneapolis, Minnesota.

Team

Baris Unver

Baris Unver is a System Engineer and Computer Science Ph.D. student. Had internships at Microsoft Research and HP Labs as a researcher. He invents and builds apps, systems, and runs businesses. Holds multiple patents. Lives in Minneapolis, Minnesota, United States.

Jiaxin Zhang

I am a passionate person about technology, and I am interested in developing the new technology and supervising the development work around it. I have been involved in founding Hoops Application with Baris Unver since I was a third-year bachelor student at University of Minnesota - Twin Cities.

Business model

Target customer

Convention Centers, Co-working Spaces, Universities, Coffee Shops

Customer acquisition strategy

We access our customers by sales team and word of mouth

Revenue model

1. Hoops is free for our end users. Our customers announce Hoops before and during their events.
2. Customers pay annual subscription and service fee. Event organizers, venue managers, and vendors are our customers.
3. Talent seekers like recruiters pay for database and tools.
4. Event sponsors pay for announcements
5. Advertising is another revenue model

Market info

Market size

$ 45,000,000,000

Competition

1. LinkedIn does not have a location-based solution.
2. Shapr is networking version of the Tinder. Users have to wait a day once they checked the recommended connections. It does not display nearby people. They have raised 16.5 million USD in total.
3. WeWork is the application of the company who has co-working spaces all around the world. Their application is available only for their members.
4. Facebook WorkPlace and Slack are not location-based. Only group members can use these apps.

Startup traction

Since we are still in private beta and we just made an agreement with our first customer we don't have traction info yet.

Other information

We are awarded 3K USD by MIN-Corps (https://mincorps.umn.edu/)

Publication date: 06 March 2018