HOOD: Wear a mask, express yourself freely | The Financial Express

HOOD: Wear a mask, express yourself freely

This pseudonymous network aims to add 10 mn users in 2023.

startup, start up sector
Jasveer Singh, co-founder & CEO, Hood

How does it feel to express oneself freely in this surveilled network of social media platforms? Well, the answer to this question goes by the name, ‘Hood’. The pseudonym social network is the perfect place for people to share their thoughts, feelings and opinions related to any domain of their life, whether it is their professional journeys, studies, financial management, mental health struggles, dating life challenges and much more.

Jasveer Singh, co-founder & CEO, Hood conceptualised the idea of creating an innovative network while he was working at DotReview. At the time, he was building a platform for founders to get information about investors anonymously so as to avoid impact on funding. Eventually, in 2021, the idea was shaped and consequently, Hood emerged as a full-fledged product with the assistance of Abhishek Asthana and Deepak Kumar as co-founders. Together, they are on a mission to empower people through Hood to seek suggestions and recommendations for their problems without any inhibitions.

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Singh has an extensive understanding of the Indian startup ecosystem, having made a successful exit from two previous startups: Qik Stay and Sparehousing.com. His latest venture, Hood, till date, has raised $3.2 million in seed funding and is backed by marquee investors like 3one4 capital, 9 unicorns, Roots ventures and Eximius Ventures. The list of investors also includes 20+ Unicorn founders like Kunal Shah, Ritesh Agarwal, Vijay Shekhar Sharma and others. Recently, it bagged a funding worth Rs 1.2 crore from Peeyush Bansal and Aman Gupta, founders of Lenskart and boAt respectively on the Shark Tank India Season 2.

The Hood app provides individuals with the freedom to voice their opinions on any topic without the constant worry of being judged or being under the radar for the content they post. The platform consists of groups across segments, like Salary comparison, College, Job opportunities, Interview stories, Dating, Behind breaking news, Current affairs, Politics, Education, Mental health, Depression, Paranormal etc., for like-minded users to connect and share their feelings.

“The innovative social media network has liberalised the way individuals can express themselves and has provided an alternative to express their thoughts and ideas without any filters,” says Singh. Hood is planning to launch a DM feature soon so that users can connect directly.

Hood plans to foray into the US and Brazilian markets, informs Singh. The network aims to become a globally-renowned company in the times to come, with a vision to reach the 10 million user mark in 2023, he says, adding, “We want to make Hood a household name globally.”

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* The social network launched in July, 2022

* Attains the top 10 position in the App Store

* Raised $3.2 million in seed funding till date

* Recent funding worth Rs 1.2 crore from Peeyush Bansal (Lenskart) and Aman Gupta (boAt)

* Plans foray into the US, Brazil markets

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First published on: 27-03-2023 at 02:00 IST
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