Three Startups: One Year Later
A lot can happen to a startup in a year. Major growth, a dramatic pivot, complete failure. We love that kind of drama, so we checked in with three startups that we wrote about exactly one year ago.
1) Hinge
Founder/CEO Justin McLeod (second from right) tells us the dating app has over 10,000 active users since officially launching in February in DC. (Justin's here with the team at the launch party.) A year ago, the company existed as a Facebook app that would romantically connect friends of friends. It was doing OK but turning it into a mobile app made user numbers soar. It created 1,000 match notifications in the first two days, far more than the Facebook app did in six months. Next step: launching in New York. Lesson learned: Have good mentors.
2) Surefire Social
Last time we talked to Surefire Social COO Ron Peele and CEO Chris Marentis, they were touting a YouTube video of bats that they helped go viral for a Miami-based roofing client. Since then the Herndon, Va.-based digital marketing firm has doubled in revenue and employees. Chris says the growth comes from focusing on helping home improvement and services clients with personalized digital marketing beyond websites. Chris adds that the company will announce some big deals in the next few months and hire 10 more people. Lesson learned: Recruit and retain A players who can take on responsibility quickly.
3) Repay Vets
Since launching Repay Vets a year ago, founders Avery Robinson and Marlon Terrell have put the company on ice and then relaunched two weeks ago. This time, the crowdfunding site for vet-owned business ideas has a new online design, a payment gateway by WePay, and a verification system provided by Troop ID. Marlon, a Navy reservist, tells us the relaunch means more bootstrapped funds. But he's convinced the changes will mean a bigger impact in a growing community of vets who want to launch companies. Biggest lesson learned: Have a good understanding of the technical challenges of a business idea.
