Luodi Wang says that ” life is all about risk. Innovation is risk taking – we don’t see it as that, but in reality it is. Don’t try to be perfect, just enjoy the ride and reach what your team dreamt of building “.
Luodi Wang, Aaryan Devgun, Tapas Banerjee and Anushk Pokharna, the four founders met online while figuring problems on Discord which then evolved to discussing the difficulty in finding nonprofit opportunities that would fit them- and fitting into nonprofit communities. They decided to build a SaaS platform for students turning into a startup, looptz.com receiving 700 users per day.
Upon finding the shared interest in finance world by investing their pocket money in stocks, they found their passion in building start-ups and incorporating technology into everyday lives. All of them were really invested in coding to solve complexities and find solutions for problems in the world which could be done in so much better way. And solving these with others was the greatest motivational force for them.
Being fed up with the old ways to get boring tasks done, their thoughts wandered to much better ways of doing getting task done in automation so people can focus on creating and changing the communities, that’s how the opportunity to create SaaS technology reached them. Twitter also played an important role for inspiring and providing them a special place for seeing insightful ideas of start-ups.
After finalizing their idea and spending two months in building the software and testing it, they came up with a beta version of Looptz.com for the public of 1500 waitlisted users and was later released to the wider public.
Recently, they have updated some features on Loop to be used through social media like Instagram for the users, @joinlooptogether.
For raising the funding of their venture, the Loop is currently in talks with a VC firm with $2 Billion plus transactions to raise six figures of the company.
It had not been an easy path for the young founders to grow their company at such a level. From the beginning, they knew the difficulties as they had to find people who would use the SaaS Platform once it was launched, which took a while for them to gather market research. It was important to know what people wanted to understand their feedback from the Beta, and scale SaaS to a grand level. There were big challenges because they had to target specific, interesting market niches in the shortest amount of time. Currently their target audience are the students of North America and India. The Beta and waitlist users of the SaaS platform are predominantly from these two demographic regions. The organisation’s work is mostly international, including Nepal, Philippines, Romania and UK too.
Tapas said, “This journey is an incredible growth journey for all of the four founders through the learnings they gained from the challenges they faced while building the SaaS platform and marketing it to students.”
It is true indeed because the greatest factor for their successful journey is the teamwork of all the co-founders. Anushk said, “We all have our specialties and work together as a team thinking of solutions for the challenges we encounter. What’s more is that each of us had different experiences such as marketing internships and coding. The most important part is that all of us listen and improve on what the Beta users requested.”
Overcoming the fear of risk-taking was hardest for them because all the bold steps they took were beyond what was planned. But they got the reward for their risk-taking.
Their current organizational structure consists of the four co-founders. Aaryan, having faced previous difficulties in finding new opportunities said, “I believe that everyone deserves an opportunity to work or intern, and we want to democratize these experiences and give equal chances.” This was a very prevalent topic to him since he lives in Africa, where the access to opportunities isn’t the same as in the rest of the world. “You really have to dig deep to find something worthwhile, which is quite time-consuming, especially for the average person who may have other commitments.”
They bought their start-up at such fates by putting their determination and skills together to work for the greater good. Their faith and partnership have played a major part in their successful journey and would always keep them going in the future too.
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