Colombia
Market: Information and media, Consulting, Education, training, Services, Mobile applications
Project stage: Operating business
Also this project:
-
Find investments
- Participate in the Unicorn Battle
Idea or High Level Concept
LookApp is a company that relies on New Technologies and Crowd Sourcing that is revolutionizing the Market Research Industry
Traction and Current Status
• LookApp currently has operations in Colombia, Mexico, Chile, Costa Rica, El Salvador, Guatemala and Honduras.
• Has already proven its business model and is currently working for more than 40 companies such as Unilever, P&G, Bayer, PepsiCo among others.
• Has a fast growing community of People which we call Eyes with currently more than 450.000 people submitting information and making money out of it.
• Has an MRR of USD 20K
• Has currently raised USD 640 K as seed investment with Angel Investors and Globant Ventures.
Problem or Opportunity
Traditional Market Research services are:
1. Too Expensive
2. Take too much Time
3. Are Not reliable
For this reason, currently market research is only affordable for large companies which represent 3% of the universe. The other 97% of the companies are taking the most important decisions based on gut feeling rather than in data.
Solution
LookApp is a digital platform through which our large community of users (+450.000 Eyes) can capture information or perform tasks of interest for our customers generating reliable information, in real time and at low cost.
Business Model, Chanells, Metrics
Our Business model consists of a large community of people (+450.000 Eyes) that have downloaded or App and through it are submitting information of products or services in the point of sale (E.g. Supermarkets, Drug Stores, Hardware Stores, etc.) in order to make some extra cash. On the other hand, our costumers (Unilever, P&G, PepsiCo, Bayer) are receiving live information of their products and services from thousands of points of sale all around the country. Our Customers are receiving more reliable information at a fraction of the time, at much lower cost than they used to receive with tradi
Incubation/Acceleration programs accomplishment
MINTIC (Colombian Government Technology Ministry)
APPS:CO
INNPULSA
Winner of Globant Global Contest
