OddUp is one of the hottest startups in the Hong Kong FinTech Space. What it provides is a startup database including news, team members, performance and most importantly a “startup rating”. The startup rating is the core part of the project. It will indicate whether investors should buy, hold or sell the company.
Recently Oddup has raised $6M USD. I am very interested in analyzing how the service is different from AngelList and Crunchbase. For my personal interest, I used to research whether a startup will have a higher successful rate by checking the background information on the 2 websites.
According to the official website, OddUp focuses more on Asia region compared with AngelList and Crunchbase. It may help Asia investors to find out the next Unicorn much easier.
So I registered a free account to see if it’s useful for me, imagining myself as an investor of course. Below will be my analysis regarding UX and business viability.
When I visited the home page, the message “Startup data and insights” is very clear. But I found the subheading “Get your startup rated and discovered by investors” is not aligned to the create account page.
The signup forms don’t have any problem. I can just select investor role & English. Then I successfully move to the finished page.
However, the “build your dashboard” button is not working. I can close the popup by clicking on the black space. (fixed at my 2nd trial: 25/5/2017 2:50 pm)
After signing up, I can select the 3 categories I like. That’s great. I will just select Consume / Software App, Social Media and Enterprise Solutions.
OK, Just pick the companies I like.
It will construct a dashboard for me. As I don’t know anything about these companies, It is strange to ask me to give ratings. Anyway, I will click on a startup to view details.
In the startup profile page, I found that there are more problems. It’s great to see that the information is consolidated on a dashboard. It saves my time to google it around. But the information can be found on AngelList and Crunchbase without opening a new account.
Another main problem is that I don’t know how it evaluates the performance of a startup. It may be better if I can know the Alexa and AppStore ranks are raising. At least I know that there are more users using the startup’s service.
The rating means not much for me. Does higher score mean the risk is lower or higher return or what?
- I wonder if a startup can be rated similar to a public company. The transparency is much lower. Can it help me to capture a startup before the hockey stick growth appears?
- If the startup is pivoting, how can it be rated? Flickr and Slack were pivoted from games by the same co-founder, Stewart Butterfield. But the games failed. So it may be better for startups who have reached Product Market Fit (PMF)?
- Can the peer rating (buy, hold, sell) really indicate a good startup? If everyone is thinking the startup is good, it should be too late for angel investment.
- It is great If it can help me to build up my investment portfolio instead of using a plain spreadsheet.
- More metrics like user number, monthly active users are preferred.
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