# GroupMe

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/groupme

- Industry: Telecoms
- Headquarters: New York, US
- Website: www.groupme.com
- Total disclosed funding: $11M
- Latest round: Series B (Jan 4, 2011)
- Investors on record: 6

## About

GroupMe is a communication platform that offers a group chat application, enabling users to effortlessly connect and collaborate in group settings without sharing personal information.Founded in 2010, GroupMe Inc. operates a group messaging application that allows users to create and manage chats with up to 10,000 members. The company is headquartered in New York, US, and was acquired by Skype Communications SARL in August 2011 for USD 85.00 mn, marking a significant strategic pivot in its business operations. The company has completed a total of 4 deals.GroupMe primarily offers a group chat application designed to facilitate communication and collaboration among various user groups. The platform allows users to create and manage group chats with the capability to accommodate up to 10,000 members, enabling them to connect without sharing personal phone numbers. Key functionalities include event planning, poll creation, and chat moderation, all aimed at enhancing group interactions for diverse use cases such as social gatherings, academic collaborations, and hobbyist communities. The app's SMS-only mode makes it accessible to users who may not have smartphones, expanding its reach to a broader audience. GroupMe serves a wide range of customers, including college students, hobbyist groups, and community organizations, primarily targeting markets in North America and select regions globally.GroupMe generates revenue through partnerships and potential monetization strategies associated with its group chat services. The transactional structure revolves around user engagement within groups, where value is derived from enhanced communication tools and features. While specific pricing plans are not disclosed, the app's functionalities such as event organization and polling are integral to attracting and retaining users. The platform may also engage in partnerships with educational institutions and community organizations, positioning itself as a preferred communication tool for these entities. This strategy aligns with GroupMe's focus on providing a seamless user experience, fostering community interaction, and enhancing connectivity across diverse user groups.Following its acquisition by Skype in August 2011, GroupMe plans to leverage the recent funding to enhance its platform capabilities and expand its user base. The company is looking into launching new features centered around user engagement and community building. Expansion into international markets is also a priority, with targeted efforts in Europe and Asia by the end of 2023, aiming to capture a larger share of the global communication app market.

## Funding rounds

- Series B, Jan 4, 2011, $11M — General Catalyst Partners, Khosla Ventures, First Round Capital, Betaworks Ventures Management, SV Angel, Lerer Hippeau Ventures
- Angel, Aug 25, 2010, $0.8M — Khosla Ventures, First Round Capital, Betaworks Ventures Management, SV Angel, Lerer Hippeau Ventures

## Investors

- Khosla Ventures (https://capitalatlas.ai/funds/khosla-ventures) — Angel, Series B
- First Round Capital (https://capitalatlas.ai/funds/first-round-capital) — Angel, Series B
- Betaworks Ventures Management (https://capitalatlas.ai/funds/betaworks-ventures-management) — Angel, Series B
- SV Angel (https://capitalatlas.ai/funds/sv-angel) — Angel, Series B
- Lerer Hippeau Ventures — Angel, Series B
- General Catalyst Partners (https://capitalatlas.ai/funds/general-catalyst-partners) — Series B