ukWe are pleased to announce the addition of Kyiv-based startup Yope (ex-Salo) to the ranks of our portfolio companies. Founded by Belarusian Bahrām Ismailov and Pavel Rudkovsky, the startup offers a new social network focused on young people. Geek Ventures, u.ventures (Horizon Capital), hi5 Ventures, Vesna Capital, plus angel investors from FAANG also participated in the seed round. What is unique about the social network and why investors believed in the startup, we tell you below.
The main feature of the social network is the video participation format. The concept is reminiscent of Clubhouse. You create separate rooms where you discuss a publication, a photo, or a video with another video overlaid on top of the one being discussed. Imagine Twitter or Reddit, where every comment is a video.
The question most often asked of the founders is: why another social network in 2022? As it turns out, there is such demand among young people ages 15-25. Video content continues to displace print, especially among the increasingly solvent Generation Z. As a result, the startup Yope appeared, which offers much-needed communication in a convenient format. The key markets are the US and Latin America.
The startup's main capital is a team with expertise. Bahrām Ismailov is a serial entrepreneur who built the profitable B2C marketplace GetClean. Pavel Rudkovsky, on the other hand, is an ex-engineer of one of the largest social products in the world, Viber Rakuten. Today, the startup has 21 employees from eight countries.
The startup is already demonstrating its success. The test launch of the product gained over 100 thousand users and 20 million views in just four months. The nearest plan is to increase the number of users several times over by 2022.
Two options for monetization are being considered: by users' interests according to the principle of contextual advertising or subscription to content creators.
The product is already in the public domain, which everyone can use. We, in turn, look forward to the further success of the team.
