Say What You Really Think: Hood's Safe and Anonymous Social Network

Hood is a startup founded by Abhishek Asthana, Jasveer Singh, and Deepak Kumar. The trio comes from diverse backgrounds and brings unique skills to the table. Abhishek, who hails from Lucknow, is a blogger and has an engineering and MBA degree. Jasveer Singh comes from a small village and has a degree in mathematics and an MBA. He has previously exited from two big companies at a valuation of 10 crores and is the CEO of Hood. Deepak Kumar, from Jammu, is skilled in coding.

The Hood app is a pseudonymous social network that allows users to share their thoughts and opinions without revealing their identities. The app is especially popular for its anonymous group feature, where users can join college, company, or other such groups. The data on the app is end-to-end encrypted, ensuring the privacy and security of the users.

AIM OF THE STARTUP

The aim of Hood, the startup founded by Abhishek Asthana, Jasveer Singh, and Deepak Kumar, is to create a platform where people can express themselves freely and anonymously without fear of judgment or backlash. The founders of Hood understand that people may have sensitive thoughts or opinions that they may not feel comfortable sharing on other social media platforms, and they wanted to create a space where people could share their views without worrying about their identities being revealed.

The app's pseudonymous social network feature enables users to create anonymous groups, such as college groups or company groups, where people can share their thoughts without revealing their real identities. The data on the app is end-to-end encrypted, ensuring the privacy and security of the users. Hood also provides a platform for users to gather value-driven information and share their experiences without being judged or criticized.

By providing a safe and secure platform for users to express themselves, Hood aims to encourage more open and honest communication among people. The founders of Hood believe that anonymity can enable people to express themselves more freely and openly, and they hope that the app can facilitate more constructive conversations and discussions on various topics.

USP OF THE STARTUP

The unique selling point (USP) of the Hood startup is its pseudonymous social networking platform. This platform provides users with a safe and secure environment to share their thoughts, ideas, and opinions without the fear of being judged or exposed. Users can create anonymous groups for their college, company, or any other topic and discuss freely without revealing their identities. This anonymity provides a level of freedom for people who may not feel comfortable sharing their thoughts on other social media platforms.

Moreover, the Hood app's data is end-to-end encrypted, ensuring that users' personal information and conversations are protected. This level of security adds to the trust factor that the Hood platform offers its users, making it an ideal space for users to share sensitive information.

The app's popularity can be attributed to its ability to offer value-driven information to its users. The app provides a platform for users to share their knowledge and experiences, making it an excellent resource for learning and networking. The Hood platform is also highly engaging, with a high number of active users and daily posts.

TARGET MARKET

The Hood startup's target market is primarily young adults and college students who value their privacy and are seeking a safe and secure social media platform. The anonymity feature provided by the platform allows users to share their thoughts and ideas without the fear of being judged or exposed. This feature makes the platform appealing to people who may not feel comfortable sharing their views on other social media platforms, especially if they are from a minority group or hold controversial opinions.

Additionally, the platform's focus on creating anonymous groups makes it an ideal space for college students looking to connect with like-minded individuals or discuss course-related material. The platform's ability to create value-driven discussions makes it an excellent resource for students seeking to learn and network.

The app's end-to-end encryption feature also makes it appealing to people who are concerned about their online privacy. This feature ensures that users' personal information and conversations are protected, making it an ideal platform for those who prioritize online security.

SALES

As of the current date, Hood has 7.7 lakh users, with 2.4 lakh active users monthly and 60,000 daily active users. With 5,000 groups and 1,800 new threads created every day, the app seems to be gaining popularity and engagement quickly.

In January 2022, Hood raised a funding round of 23 crores at a valuation of 112 crores. This indicates that investors believe in the potential of the app and its business model.

JOURNEY ON SHARK TANKS INDIA

Hood was seeking funding to grow their business. The owners of the company asked for a total of 1.2 crores in exchange for 0.2% equity at a valuation of 600 crores.

After some negotiation, two of the Sharks, Peyush and Aman, made an offer of 60 lacs for 0.54% equity and an additional 60 lacs as debt with a 12% interest rate, at a valuation of 112 crores.

The owners of Hood ultimately accepted this offer, resulting in a final deal of 60 lacs for 0.54% equity of the company at a valuation of 112 crores, along with 60 lacs of debt at a 12% interest rate.

This funding will likely allow Hood to grow their business and expand their reach, as they can use the investment to invest in marketing, research and development, and other areas. Additionally, the support and guidance of Peyush and Aman can provide valuable insight and connections for Hood as they continue to grow.