Photo - ShareSpace
59905

ShareSpace

Bridging expert and peers in mental health and wellbeing.

USA, Florida
Market: Information and media
Stage of the project: Prototype or product is ready

Date of last change: 01.04.2023
Sale price
$  350.000
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Idea

Our platform is the ultimate community building platform, where people can communicate based on different topics with each other and form themed communities confidentially. We have a lot of communities related to wellbeing and mental health.

Current Status

Our product exists in the form of a mobile app available on both App Store and Google Play Store. We have made an MVP, then redesigned and optimized it into an MMP.
We currently have:
- 20k users (primarily US)
- Average engagement time per user per day = 52 min
- 7 day retention - 30%

Main functions available:
- - Stripe payment processing system
- Native advertisement
- Private chat
- Topic selection
- Public discussion space
- Smart home feed adapting to topics selected
- Ability to create free/paid AND private/open groups
- Ability to set free trial periods for paid content
- Ability to post textual, photo, audio, video content, as well as pdf files
- Comments/sub-comments
- Report user/comment/post/group features
- Blocking features
- Internal search engines based by users, posts and groups

Annual sales, $

20000

Organizational form

LLC

Number of employees

8

Problem or Opportunity

For the USA:
- 23% of adults who report experiencing 14 or more mentally unhealthy days each month were not able to see a doctor due to costs.
- 21% of adults are experiencing a mental illness

- Lack of confidential safe spaces
- Inaccessibility of current resources (price / location / convenience)
- Growing # of people experiencing well-being concerns

This market is only projected to grow at 15.9% CAGR.

Solution (product or service)

- Community of like-minded supportive people
- Peer to peer support and consultations
- Private and public communities tailored by topics
- Affordable access to experts
- Confidentiality

Our platform is scientifically proven to help reduce anxiety and improve mood via research from UCLA and SMU.

Competitors

TalkLife and Vent, however these apps focus only on the peer-to-peer support without the access to experts. They do not have many features we have implemented such as payment processing, advertisement, video and file uploads and many others.

Advantages or differentiators

The only platform combining expert knowledge and consultations and peer to peer discussions.

Experts and influencers offer their knowledge at accessible price points in a group format.

Wide range of topics (40+)
Confidential and judgement-free space
Importance of community (supported by 100+ Interviews)

Finance

Our business model is based on multiple factors:
- native advertisement (already implemented)
- 15% commission on every user-user and user-creator transaction
- Potential for collaboration with hospitals, healthcare companies, healthcare insurance companies, medical service providers, psychology clinics and etc.

Business model

- 20k users (primarily US)
- Average engagement time per user per day = 52 min
- 7 day retention - 30%

Reason for sale

Founders decided to pursue other projects. We believe ShareSpace will flourish tremendously in the hands of the right owner, because it has impeccable potential in various fields.

Market

Our audience is primarily:
- aged 18-30
- English speaking (US based)
- 70/30 - women / men ratio
- Interested in psychology and self improvement
- experiencing mental health struggles or wanting to be happier

Team or Management

Risks

The platform requires moderation since the users may post graphic content.
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