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“I still remember sitting in my office and looking at our revenue falling off a cliff and staring at a hazy event pipeline,” recalled Jain. (L-R): John Peter (Product Lead), Vaibhav Jain (CEO), Mayank Agarwal (CTO) Pivoting In The Times Of Crisis “There are close to 10 different functionalities that we provide to attendees from a privacy and data security perspective, including features like showing/hiding profiles, messaging options, hiding online status etc,” he added. Since it is already GDPR-compliant, Hubilo has managed to get a lot of clients in Europe and the Middle East. The founder said that now 45% of the revenue comes from Europe and the Middle East, followed by the US at 30-32%, and India contributing about 12%. Sector-wise, 40% of Hubilo’s client base consists of media and event management agencies, while 60% comes from enterprise and associations.
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The company, typically, earns revenue on a per-event basis plus a subscription model for repeat and frequent customers, which was started in October this year. In terms of pricing, on average, Hubilo’s virtual events cost about $2 to $3 per attendee per event. The outcomes were phenomenal, the virtual event witnessed stunning responses from both product enthusiasts and Inc42 Plus members, saw a participation of over 5K attendees and 42 speakers, stretched for two days. Today, Hubilo has been catering to 400+ paid clients across the globe, where it regularly hosts 100K attendee events, including Inc42, YourStory, AWS, Siemens, Roche, Tech In Asia, United Nations and GITEX (one of the world’s largest tech events) among others, in the span of seven to eight months.Įven The Product Summit 2020, one of India’s largest virtual product-centric events, organised by Inc42 and The Product Folks, was completely managed through Hubilo. At the time, it earned $250 for hosting the webinars. The founder claimed that the Minimum Viable Product (MVP) was ready within 20-25 days, with creative event production company Tessarakt Experiential becoming its first client. Fortunately, the timing was perfect, where the company now claims to be making $10 Mn ARR. Cut to 2020, in March, with almost 100% of its events getting cancelled or postponed due to Covid, Hubilo decided to use its existing solution to mark its re-entry into the virtual events landscape (Hubilo Virtual).
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With time, Hubilo decided to pivot into an event management software solution company where it started developing tools, executing and managing mid to large-ticket size events for enterprises.
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Since the solution was ahead of its time and most of the customers were inclined towards physical events, its solution did not work for them and the company struggled for almost a year. The company started its journey as a virtual networking platform for attendees. “We had two choices, either we could lay off 30 of our employees and move on with life or pivot again into something meaningful that we had originally thought of,” recalled Vaibhav Jain, founder of Hubilo.įounded in 2015, Hubilo is a brainchild of Jain, Mayank Agarwal and John Peter. The company was hanging by a thread with a cash runway of four to five months, the founder told us. San Francisco and Ahmedabad-based events startup Hubilo was also in a much similar situation - its revenue plummeted to zero in a blink of an eye due to Covid - given physical events were the worst-hit, globally. With many high-profile and smaller events either cancelled or postponed, extending to corporate, leisure, media and entertainment, sports and retail segments, across the globe, event management companies were in grave threat. The curtains came closing down for the live events industry at the beginning of the year, coupled with the loss of revenue for the foreseeable future, which was only the start of the coronavirus outbreak. With 45% of the customer base in Europe and the Middle East, Hubilo has about 400+ paid clients, including Inc42, YourStory, AWS, Siemens, Roche, Tech In Asia, United Nations and others Ahmedabad and San Francisco based virtual events startup Hubilo went from zero to $10 Mn ARR in the span of seven to eight monthsīacked by Lightspeed, Freshworks CEO Girish Mathrubootham and others, Hubilo looks to expand its team across other geographies and enhance product development