Meetzoo, launched its open beta on iPhone earlier this month, aims to secure £150,000 of first stage investment within 30 days. The platform has already £40,890 within the first day of funding from over 29 investors. Investors will receive a share of the 16.67% equity stake being made available on Crowdcube, with minimum investments starting at £10. The funding will be used to support Meetzoo’s App Store launch and generate a subscription revenue stream. An Android version is scheduled to launch shortly afterwards.
Founded in February 2016 by entrepreneur Paul Lewis-Borman, who previously co-founded the software firm Symbox, Meetzoo believes that meetings should be a lot more productive than they are today.
“Like most business professionals, I spend a large amount of my work life participating in meetings,” confided Lewis-Borman. “Meetings should be the most productive and creative interactions of our business lives. They are the lifeblood of business, yet they are rarely as productive as they should be. I took a hard look at what is wrong with meetings – such as not knowing enough about each of the attendees beforehand, attendees not being properly briefed, agendas rarely being used or followed, poor time management and little in the way of continuity or accountability between meetings. I went looking for an app that could solve these problems and couldn’t find one, so I created Meetzoo.”
Meetzoo shared some stats about meetings:
- Employees attend around 62 meetings a month
- Executives spend 40-50% of their working hours in meetings. 7.8 of those hours are considered unnecessary and poorly run. This is two months of work time wasted per year.
- According to Sennheiser, the average British worker will sit through 6,240 meetings in their career, with 60% of participants citing these meetings as ‘pretty pointless’.
- A Fortune 50 company is estimated to waste $75 million a year due to poor meetings
Enter Meetzoo. No other meeting app offers the same level of integration of social, meeting and collaboration functionality that Meetzoo does, avers the platform.
Meetzoo’s action tracking features brings continuity of thought and action to every meeting by letting participants track their tasks and pick up exactly where they left off more easily. Meetzoo aims to add value to the entire meeting lifecycle to improve the productivity of all meetings by providing knowledge of participants ahead of the first meeting and tracking between meetings.
Meetzoo integrates with all your favourite apps to ensure the highest quality of data (* Not all integrations available at launch). The goal is to make Meetzoo integrate with all the apps already in use, such as LinkedIn, Google+, Salesforce, Microsoft Dynamics etc. in addition to Google, Office or user’s smartphone calendar to ensure the data in Meetzoo is accurate, reliable and up-to-date.
“Meetzoo has huge potential. The space of meeting lifecycle products is largely uncontested and we’re just starting to see lots of interest here now,” added Lewis-Borman. “Earlier this month one of our competitors Worklife was acquired by Cisco. We have a compelling viral growth model because our users are always meeting new recruits with every calendar event they attend. There are over 450m LinkedIn users alone, we want to target 10% of that base in 4 years and by monetizing just 2% of that number we can generate annual revenues in excess of £40m a year. We have spent the first six months of the company developing the brand, business plan and a functioning beta version on iPhone. The next phase of the story is to take the app out of beta and onto the App Store so we can begin to grow the user base and launch the app’s premium features. We will then launch on Android shortly after that. We are incredibly excited to be launching Meetzoo’s crowdfunding campaign on Crowdcube, the UK’s leading equity crowdfunding platform.”
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