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HoopMaps Shark Tank Update

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Hoopmaps is a scheduling app combined with social media. The Hoopmaps app lets people interested in playing basketball find opponents and teammates to play the sport with. It is an extremely easy-to-use app. Hoopmaps lets one start a game by creating a map or finding an upcoming or ongoing game.

If the user wants to start a match, they just need to create a map by entering the date, time, place, and duration, and invite other people through Hoopmaps itself or other social media apps like Facebook or Instagram. If a person wants to join a game, they need to select the game that is colored in blue because the orange ones have already started. Basketball enthusiasts can easily find partners to share their enthusiasm with.

HoopMaps at a Glance:-

IdeaHoopMaps:- Application that helps to find nearby basketball opponents.
FoundersDonte Morris and Dominic Morris
Asked For$100,000 for 5% equity
Accepted DealNo deal
SharksNo sharks
Business statusOut of  Business
Episode No.Season 9, Episode 9

Index:

Who are the founders of HoopMaps?

 Two brothers, Donte and Dominic Morris are the founders of Hoopmaps. The brothers have graduated from the California State University of Sacramento. Both of them have a wild interest in basketball but they rarely find any pick-up basketball games to play.

They used to waste a lot of time looking for opponents to play against. So, they created Hoopmaps and launched it in the spring of 2016. They have more than 10K subscribers and even international players use the Hoopmaps app.

Did Hoopmaps get a deal on the Shark Tank?

Dominic and Donte came on the show seeking an investment of $100,000 for 5% equity. Hoopmaps is an application-based concept. They demonstrated in the show how it works. They called Alex and Mark on the stage for a better explanation of the business idea. Kevin O’Leary immediately asked about the sales. Donate shared that they have 50,000 downloads but the premium subscription is still zero. Around 10,000 people use the application on a daily period.

Alex Rodriguez asked about the valuation to which Dominic shared that it depends on the search engine optimization on Google. Barbara Corcoran asked how they’d manage if premium services failed. The answer was through advertising. Lori Greiner is not a sports lover and went out. Kevin thinks that they are not confident enough about their business idea and goes out. Barbara Corcoran said it is not a safe business or worth investing in and went out.

Alex said it’s not small and hence he can’t invest in it. Mark Cuban didn’t like the subscription model concept of earning money and went back. No sharks showed any interest and no offers were placed. Donate and Dominic moved off the pitch with no deal in hand.

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What happened to HoopMaps after the Shark Tank?

On the show, they didn’t get any deals, but once the show aired there was an increase in the number of subscribers. Mark Cuban also provided various platforms for HoopMaps after the show. Mark introduced them to the Big 3, a 3 on 3 basketball league by Ice Cube. Later, they were also featured in the sports center. As of 2019, they run their mini-league out of a local sports club. 

During the pitch, they came up with a valuation of $ 2,000,000. The valuation asked didn’t seem worth the business as per sharks. The valuation depends completely on SEO, which means Google searches for their application. After the show, HoopMaps was able to get its direction but, unfortunately, after a few years, they seemed to be going downwards. 

HoopMaps is a subscription-based model to earn revenue. It costs $8.99 per month to play and enjoy. As of 2019, they have tried to expand themselves, but gradually they seemed to be going back to zero. 

As of 2021, the application is available for download but it is not useable. Their website is also down; no more searches are made for the application. The Facebook page of HoopMaps is not updated till 2017 and there are no tweets on their Twitter as of 2020. After the show, HoopMaps got its direction of success but due to some un-identical reasons, they went off the real market.

Competitors of Hoopmaps are:-

  • Deadbolt
  • MatchUp

What is the net worth of HoopMaps?

The current net worth of HoopMaps is null as they are out of the league market. The valuation they held during the pitch was $2,000,000. 

Is HoopMaps still in business?

HoopMaps is no longer in business. The application is still available for download but it’s not usable. After the show, they had enough success and started their mini-league, but as of 2017, no Facebook updates have been made. As of 2022, they are not in business anymore.

HoopMaps Social Links:

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FAQs:

What is HoopMaps?

Hoopmaps is a scheduling app combined with social media. The Hoopmaps app lets people interested in playing basketball find opponents and teammates to play the sport with. It is an extremely easy-to-use app. Hoopmaps lets one start a game by creating a map or finding an upcoming or ongoing game.

Who founded HoopMaps?

 Two brothers, Donte and Dominic Morris are the founders of Hoopmaps. The brothers have graduated from the California State University of Sacramento. Both of them have a wild interest in basketball but they rarely find any pick-up basketball games to play.

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