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HitMeUp

Developed real-time and location-based marketing applications for the web and mobile platforms.

Company Information

Description

HitMeup provided businesses with a real-time deal publishing platform. Companies could set up promotions online or from a merchant app and embed them anywhere online, including their company Facebook page, but run them through a single dashboard. The mobile version for businesses can create location-based promotions in under a minute allowing for real-time deals to react to lulls in demand. Customers can see all deals aggregated on a second customer app, which put them at the centre of a map and showed them all the deals around them.

Legal Name

Former Legal Name(s)

Company Reputation

Entity Type

Private limited company

Ownership Status

Operational Status

Inactive

Founded Date

1 Feb 2011

Operational Duration

4 years

Shutdown Date

2015

Last Financing Round

Seed Round

Total Raised

USD 50K

Last Financing Date

16 Jan 2014

No. of Funding Round(s)

No. of Investor(s)

No. of Employees

1 - 10

Total Revenue

Post-money Valuation

Market Capitalization

Stage of Development

Development

Transactional Model Type

B2B2C

Defensibility Moats

Economies of scope, Customer insights, Two-sided marketplaces,

City

London

State/Province

Greater London

Country

United Kingdom

Industry

Marketing & Advertising

Categories

Marketing, Real Time, Location Based Services,

Product Gallery

Reasons for Shutdown

Lack of Experience

Did not have any tech background prior to starting his startup

The founder did not have any experience in tech before launching his startup.

Poor Marketing

Businesses were not promoting their product properly

Businesses were bad at promoting their product to the market such as unappealing photographs and badly written promotions.
Also, using Facebook as a platform to sell their product was not a good idea where people usually were not in a particular mood for shopping and want to buy from their trusted platforms.
Thus, for the third version of their product, they tried to focus on a mobile-only application.

Poor Business Model

Unsuccessful market outreach

With the third version of their product, the startup was still unsuccessful due to not having an extensive marketing outreach for their business and only having few users which enabled them to scale up.

Direct Competitors and Similar Companies

Note: Direct competitors are defined by similarity score of more than 40%, while similar companies are defined by similarity score of less than 40%

No.	Image	Name	Similarity score	Description	Industry	Categories	Location	Ownership status	Entity type	Stage of development	Transactional model type	Defensibility moats	Last financing round	Total raised	Post-money valuation	Last financing date	No. of funding round(s)	No. of investors	Investors	Total revenue	Market capitalization	No. of investments	No. of acquisitions	No. of board seats taken	Competition	Management	No. of employees	Company reputation	Contact info	Operational status	Operational duration	Shutdown date	Founded date	Legal name	Former legal name(s)	Ticker
1.		Salorix	23.3%	Worked with brands and agencies to simplify and scale social media engagement.	Marketing & Advertising	Marketing, Brand Marketing, Social Media Marketing	United States	-	-	-	-	-	Early Stage	-	-	-	-	-	-	-	-	-	-	-	-	-	10-50	-	-	Inactive	-	-	2009	-	-	-

Investors

No.	Image	Name	Investor type	Description	Location	Preferred investment stage(s)	Stages invested in	Assets under management (AUM)	Investment range	Investment sweet spot	Preferred investment focus	Preferred investment geography	No. of investments	No. of lead investments	No. of follow-on investments	No. of co-investments	Portfolio companies	No. of exits	Total exit value	No. of failed investments	Loss on investments	No. of acquisitions	No. of board seats taken	No. of funds	Limited partners	Co-investors	No. of partners	Partners	No. of employees	Management	Board members	Founders	Investor reputation	Contact info	Entity type	Legal name	Former legal name(s)	Founded date	Ticker
1.		Collider	-	Collider is a supercharging startups and accelerating brands dedicated to marketing and advertising tech startups.	London, England, United Kingdom	-	-	-	-	$100K	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	51-100	-	-	-	-	-	-	-	-	-	-

Leadership

No.	Image	Name	Previous designation	Previous company	Previous biography	Previous profile type	Previous location	Experience	Education	Reputation	Current company	Current designation	Current biography	Current profile type	Current location	No. of investments	No. of exits	Total exit value	No. of board seats taken	Contact info
1.		Charlie Pool	CEO	-	-	-	-	-	-	-	Stowga	-	-	-	-	-	-	-	-	-

Funding

No.	Financing date	Financing round	Total amount raised	Post-money valuation	Financial viability	Fundraising target amount	Remaining target amount	Financing type	No. of investors	Board seats	Lead investors	Entity type	Financing status
1.	16 Jan 2014	Seed Round	USD 50K	-	-			-	1	-	-	-	Completed