Yizhen Qiu; Jai Rathore
High Concept Statement:
A real-time group messaging app that connects users with self-identified common interests.
Need or Demand:
This idea came from my personal experience. When I was applying to MBA programs, I was looking for a real-time group messaging platform that would connect me with other applicants globally and exchange information but didn’t find one. When I moved to NYC, I was looking for a real-time group messaging platform that would connect me with other volleyball players in the area to set up pick-up games or tournaments but didn’t find one either. Therefore, I believe there are people who have a desire to connect with others with common interests in real time.
Product / Service / Solution:
This need can be fulfilled by a real-time group messaging app that connects users with common interests. Under our platform, users self-identify interests when they sign up and get connected with those who express the same interests.
Through self-identifying interests, users can find and join groups with common interests and exchange information, pictures and videos in real time.
Our main competitors are Whatsapp, WeChat and other group messaging apps in the market such as Slack and GroupMe. However, the existing apps only allow users to invite and connect with people who are already in their network. Using my MBA application example above, I could create a group on Whatsapp and invite everyone I personally know who are applying to MBA. On the other hand, Reach provides a solution that connects applicants from all over the world who self-identified that they are current MBA applicants.
Official accounts – using my volleyball example above, local volleyball clinics or training camps can set up an official account on Reach to do advertising, attract potential customers, sell tickets and exchange information with existing customers. In return, they will pay Reach for the creation and promotion of the official accounts, as well as a small flat fee per contact added.
In-app purchase – my vision for Reach in the long term is an all-inclusive information exchange group messaging app with the following features: in-app wire transfer between users, in-app E-commerce for small and local businesses, in-app tickets purchase for sporting events and concerts, in-app apartment finder and many more. Reach will in return take a percentage of each transaction as a fee.