Hoopmaps
Hoopmaps is a company from Oakland, CA, founded by twin brothers that wants to connect people who interested in playing pickup basketball games. They believe they have identified an under served market after having run recreational basketball leagues in Sacramento, CA, for the last ten years.
The app allows people to create game listings in the app and set a number of needed players. The app will notify other app users within a twenty-five mile radius of the game. (It is presumed that those users can then signup to play the game, notifying the game creator and reducing the number of available spots.
The service has 50,000 users, the vast majority of which are in New York City. 75% of users come to the app through direct search.
The app is not currently profitable but the entrepreneurs in their revenue model plan to implement premium subscriptions that will presumably notify premium users first about games or give them access to more games than non-premium subscribers. The price point is going to be $8.99 a month or $100 a year for a premium subscription. Other revenue models include paid advertising.
The sharks believed the app and the service were not yet at a point where they believed in investing and all of the sharks declined. The entrepreneurs walked away without a deal.
This deal aired on Episode 9.09.