iHookup Social, Inc. is a mobile Social Dating App positioned at the intersection of dating, social media and location-based connections.
Company Mission: “To enable singles, groups and the socially active to connect quickly and efficiently with local, real life ‘hook-up’ opportunities.”
This is the iHookup difference. Not only does the company’s ever-refining technology help create meaningful connections of all varieties; it also facilitates the real-life meeting andoffering up of locally relevant locations to engage these new connections. These participating venues complete a circle of service that allows iHookup Social to be both matchmaker and concierge, providing a unique opportunity for consumer brands to offer incentives to a growing network of socially active singles and mobile users.
iHookup Social, where real people make real connections … and where real businesses pay to be their host.
- iHookup Social Submits New Version of Its Top Ranked App to Apple App Store
- iHookup Social to Expand Revenue Model and Introduce 'Social Commerce' Strategy via New App Release
- iHookup Social Penetrates International Markets With Record Gains
- iHookup Social Records 75,065 New Downloads in June, Grows 16% Over Previous Month as Summer of Good Times and TV Ad Campaign Continue
The iHookup app was created by 20 – year veterans of Silicon Valley Tech Start ups and a team of “Young and Talented” mobile innovators. In addition to a team of mobile development specialists, the management has a proven track record of developing and deploying consumer products and multi-national brands. iHookup Social, Inc completed the acquisition of assets (The iHookup App, IP, Domains, users, etc) from it’s developer Checkmate Mobile, Inc. in 2013. To date, the application has received over 100,000 downloads and is currently generating minimal revenue through free and paid downloads of the application, of which a percentage of users purchases subscriptions and/or virtual currency. The iHookup application is ranked in the top 500 apps in over 60 app stores around the world and had reached as high as #4 in Social Networking apps in the United States.
Size of the App Market
In a recent report by Gartner, they said it expects global mobile advertising spending to reach $18 billion this year, up from the estimated $13.1 billion in 2013. By 2017 it’s projecting the market will have sized up to be worth $41.9 billion.
From 2015 to 2017 Gartner said growth will be fuelled by “improved market conditions” — citing provider consolidation, measurement standardisation and new targeting technologies as likely areas helping to underpin and bolster the market.
All global regions will experience “strong growth”, according to the analyst, although North American is projected to take the lion’s share of growth — owing to the very large scale of ad budgets in the region and their shift to mobile. It is also, after Japan/Asia Pac, the region where mobile advertising is most mature.
App Market Growth and Potential
$25 Billion by 2015. “The mobile application marketplace will reach $25 billion by 2015, according to a new report from World Mobile Applications Market, a U.S.-based market research firm. It’s yet another confirmation of the huge worldwide trend that is the proliferation of app sotres. The mobile app market was $6.8 billion this year, the reports says, but will grow…” - Sarah Perez, 2011
comScore, Inc. (NASDAQ: SCOR), a leader in measuring the digital world, today released data from comScore MobiLens® and Mobile Metrix®, reporting key trends in the U.S. smartphone industry for May 2014. Apple ranked as the top smartphone manufacturer with 41.9 percent OEM market share, while Google Android led as the #1 smartphone platform with 52.1 percent platform market share. Facebook ranked as the top individual smartphone app.
169 million people in the U.S. owned smartphones (70 percent mobile market penetration) during the three months ending in May, up 4 percent since February. Apple ranked as the top OEM with 41.9 percent of U.S. smartphone subscribers (up 0.6 percentage points from February). Samsung ranked second with 27.8 percent market share (up 0.8 percentage points), followed by LG with 6.5 percent, Motorola with 6.3 percent and HTC with 5.1 percent.
How Apps are Monetized
1. Paid Downloads aka Pay Per Download
2. In-App Advertising aka Mobile Ads
3. In-App Purchases or Subscriptions
Meet some of the team
Robert A. Rositano, Jr.
Chief Executive Officer
Mr. Rositano is a serial entrepreneur with more than 20 years of experience in technology and bringing in more than $60M in liquidity events for the companies he has hatched or managed. Prior to starting the Company, Mr. Rositano was a founding member of the Internet’s first IPO in 1993, Netcom Online Communications, Inc., which was sold to ICG and then to EarthLink in 1995. Mr. Rositano has co-founded a number of successful ventures, including Simply Internet, Inc., Nettaxi.com, America’s Biggest, Inc., Zippi Networks, Inc (an eBay partner) and CheckMate Mobile, a mobile app developer. He has also authored one of the first Web Directory’s for Macmillan Publishers.
President and Chief Technology Officer
With over 15 years of experience in executive management, financial management, Internet architecture and high technology operations, Mr. Rositano has successfully assisted in the raising of over $40M in both private and public transactions. Prior to IHookup Social, Inc., Mr. Rositano co- founded Checkmate Mobile, Inc, Latitude Venture Partners, LLC, Zippi Networks, Inc, America’s Biggest, Inc, and most notably, was the co-founder and president and CTO of Silicon Valley based Nettaxi.com, which went public in 1998 when it quickly reached a valuation of over $600M. With over 3M unique visitors daily and a top 5 worldwide, website rank. As President and CTO, Mr. Rositano was responsible for designing, architecting, and scaling the Nettaxi server infrastructure from 0 to over 10 million visitors per day.
Chief Financial Officer
From 1997 to 2006, Mr. Garcia was employed in senior management positions by UK based Misys PLC, a global software and solutions company serving customers in international banking and securities, international healthcare, and retail financial services. Prior to 1997 Mr. Garcia held executive positions with CEMEX, a world leader in the construction materials industry. Mr. Garcia received his Bachelor of Science –Business Administration—Major in Accounting from the University of Arizona in 1981.
Executive Vice President of Mobile Design
Will Richards is the Executive Vice President of Mobile Design at iHookup Social, Inc. Prior to joining iHookup Social, Inc., Mr. Richards co-founded Distance EDU Learning, Inc. in 2005, where he served as the head of UX & UI design and as a board member. Mr. Richards has held lead design and systems based roles at various technology companies over the course of his career, including Nettaxi.com, Applied Materials, BAE SYSTEMS, FINTELO, URreal and Checkmate Mobile. Mr. Richards holds a degree in Engineering from the University of Texas at Austin and patent inventor credentials in e-Learning.
Question & Answer
Is the company profitable?
The company is not profitable yet by design and we continue to model our growth after the many successful mobile / social apps that have proven the value of a user (Free and Paid) once critical mass is established. iHookup Social is growing its top line revenue but currently runs at a negative cash flow to continue our rapid user acquisition ramp while we test – increase existing user engagement, subscription based offers and release new services that will ultimately offer additional revenue sources to the company. Users equal valuation and more users means a captive audience of loyal followers that are more and more willing to pay for iHookup Social services as they become more comfortable with our social network, brand and overall benefits offered to our community.
What is the company's earnings history and outlook?
It is Important to note we have only been a public company for a short time (February 2014) with a goal of advancing our registered user base beyond 1 million. This being said we have and continue to provide transparency to the public through our 8k’s, Q’s and 10K. Our metrics can be measured against many of the mobile apps in our space as well as those that have been acquired for their sheer number of FREE users in this coveted user demographic. To speculate on our earnings outlook is something we just don’t do at this point in the company’s growth phase…it is all about users and critical mass that will deliver the earnings long term for the company.
Who are the company's emerging competitors?
We view all apps in the “Social Networking Category” as potential competitors and often they fall into a category of “Strategic Partnerships” but the list of company’s we keep a close eye on in this “Mobile Social – Dating” marketplace is a short list.
Does the company have a solid management team?
Yes, we strongly believe in the current management team, our history working together and are always looking for new / strong additions to the team as we advance the company’s position in the marketplace.
Does the company have a strong balance sheet, and not too much debt?
In my opinion the company continues to bolster its balance sheet but again we are focused on GROWTH in this critical phase of our business plan. We continue to take on a certain amount of debt that is not viewed by any member or our team as “Too Much”…we take on enough debt in small bites to allow us to continue growing the business. Per our recent disclosure of an S-1 filing the company intends to reduce our cost of capital with access to substantially more capital with favorable terms.
How does the company plan to raise capital in order to fund future growth?
Refer to above response.
Where do you see company in one year from now from a market perspective?
We see the company making significant strides across the board and If all goes as planned the market will see many advances / improvements in our technology, feature set and over all UX that is designed to keep our users coming back for the desired result of choice. Our goal in achieving the above will result in our largest driving force in creating value, which is GROWTH in our user base and increased monetization schemes that will continue to put the company on the acquisition radar as well as building the iHookup Social Brand.
Does HKUP expect to expand it's business further to continue being competitive, once the app is perfected, or if it becomes highly profitable?
Yes, as above indicated projects come on stream.
What does company's CEO think the most important goal is, when building value for long-term shareholders?
User growth…leads to monetization, users equal valuation and attractive numbers lead to acquisition opportunities both by and for the company.
What sets company apart from other public companies that gain revenue through its mobile app?
iHookup Social has always designed for monetization on the road to growth in our user acquisition strategy, and although we offer a FREE or PAID app download the company has and will always be focused on how to monetize the user NOW…rather than trying to take things away and add “PAY TO PLAY” options in the future.
What truly sets us apart is our ability to bring a user in and offer services that can be monetized outside the app itself, which you will see in our coming release and launch of our “SOCIAL COMMERCE” initiative. Social Commerce is simple….we are developing a network of users that our looking to “Hookup” or “Connect” in certain localized areas across the country / world, the next step is taking the “Virtual Connection” and making it a “REAL CONNECTION”. iHookup Social is now combining an “Offer based” platform that allows users to receive special incentives and / or RECOMMENDATIONS on “WHERE” to Hookup in their local area. Unlike “Groupon” we do not charge a “Venue / location” to deliver customers to their (Coffee shop, Bar, Night Club or Event) we simply monetize the venue side upon the redemption of an offer that is redeemed by our users at a particular site. Social Commerce offers an additional layer of convenience as well as a gentle push in the direction of making that real connection with others…monetizing the “Venue” for Social Commerce and a very unique feature set.
Does company have aspirations to uplift to a larger exchange?
Yes, we are focused on building value and believe in continuing to elevate our brand as well as access to new capital sources that typically come with a listing on a larger exchange.
What are a few additional benefits of being a heavily invested shareholder?
Investors are presented with a company that is in a rapid growth mode, in a high growth market with several examples of what can happen upon reaching critical mass in a user population on an app platform. iHookup Social is past the point of proving out a product or service that consumers will download (and pay for) it is now about how fast we can achieve MILLIONS of USERS and build a brand in a marketplace that is getting LARGER BY THE DAY!
What is the best way to drive revenue for the company, in management's opinion?
Subscriptions / Memberships, Virtual Currency (Coins that are consumable with repurchase needs) and Social Commerce (Monetizing the Venue).
Don’t just take our word for it...
Wow! Love all the communication options. Better than Match and Zoosk!
Awesome App! It’s so fun to chat and make friends nearby.
Love it! Meeting people nearby is way easier than on your computer.