Anonymous Social Networking App Turning Heads on Shark Tank India

HOOD is a distinct social networking platform that allows users to share their thoughts anonymously, enabling them to express themselves freely without the worry of being judged. The app emphasizes the importance of free speech, with its standout feature being anonymous groups. All information on HOOD is protected through end-to-end encryption. Originally known as Zorro, the platform rebranded to HOOD. It gained significant attention when several renowned business leaders supported its launch. Launched in June 2022, HOOD quickly attracted over 500,000 users within just 45 days, despite a modest marketing strategy. The platform’s goal is to reach 10 million users in India before expanding into the United States as its next target market.

Click here to visit their official website: HOOD

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By the time they made their pitch, the company had raised 23 crore, with the last funding round boosting its valuation to 112 crore in January 2022. At that point, HOOD was still a pre-revenue business, meaning they had not generated any income yet. The app boasts over 5,000 groups and has attracted more than 750,000 users in total. Currently, there are about 240,000 active users each month, with around 60,000 using the app daily. The platform sees approximately 1,800 new posts being added regularly.

Amit, one of the Sharks, believes the product isn’t ready for the market and criticizes the founders for lacking humility and not knowing important business numbers. Anupam shares his view that the founders are overconfident because they are connected to many successful business people (20 unicorn founders) but thinks their valuation of 600 crore is unrealistic. He argues that their business model involving anonymous networks won’t be accepted by governments and claims there is no practical use for their product, leading him to decide not to invest. Namita agrees with Anupam, stating that the founders need a reality check and have misconceptions about their company’s value, so she also chooses to pass on the investment. In contrast, Aman expresses confusion about the high valuation but still wants to invest, and Peyush expresses interest too, but only at the last round’s valuation. Ultimately, Aman and Peyush offer to invest in the company through a mix of loan and equity, and the founders accept their proposal despite the skepticism from the other Sharks.

The Hood is a modern social network where users can share their genuine stories without revealing their true identities. It provides a safe space for everyone to express themselves openly and honestly. On this platform, no one can see who you really are, allowing you to speak your mind without fear. The app also makes it easy to post local advertisements and find events, people, and places near you.

 After being featured on the show, HOOD’s popularity increased a lot. The deal they made with the investors (the Sharks) was successful, and many people started downloading their app. After the episode aired, their app became one of the top 10 most downloaded apps, and it even trended at number one on Twitter with the hashtag #HoodApp.

As of October 2023, HOOD had over 500,000 downloads on the Google Play Store, which is a good number. However, the app does not have great reviews; it only has a 2.6 rating out of 5 on Google Play, indicating that many users are not very satisfied with it. On the iOS platform (Apple devices), the app is rated much better at 4 out of 5 stars, based on 335 ratings.

Moreover, HOOD has attracted investment from some well-known business leaders in India, including Ashneer Grover, who was involved even though he was not a part of the show’s second season. This suggests that prominent investors believe in the potential of HOOD, but the mixed reviews indicate that there may still be challenges to overcome for the app’s success.