Along with the new title, the pioneering duo was also given the opportunity to be fast tracked into talks with some of the top accelerators in the world, which resulted in their participation in Batch 19 of 500 Startups. Having spent time in California with mentors from 500 Startups and their program, we decided to check in with the team to see what has changed. ShearShare is a mobile app that services a unique B2B niche, allowing stylists and barbers to rent unused salon space on-demand. Salon and barbershop owners make money on their empty chairs, and stylists get to lease by the day. In our last interview back in October, ShearShare was in 250 cities and in 11 countries. Flash forward just two and a half months later, and the team has already added another 32 cities, with a plan to be in every state where booth rentals are allowed by June. Among their successful month-over-month growth, their retention and repetitive user base is on the rise. Currently, 80 percent of ShearShare users will rebook within 45 days, up from 63 percent in 60 days. December also boasted the company’s first international ShearShare booking, which took place in Paris, France. The team had been operating off its MVP since launch and released the beta version of ShearShare a few weeks ago. This new version (available on both Android and iOS) offers an expanded search capability, international listings, and allows all licensed barber and cosmetology specialties in addition to hair and makeup–nails, esthetics, and massage therapy–to find and book space using ShearShare. The team also landed a partnership with a well-established salon suites franchise, Salons By JC, to onboard their franchisees across more than 20 states. According to Courtney and Tye, much of their growth can be attributed to their community-centric approach, and more recently, due to the education and advice they’ve garnered through 500 Startups.
500 Startups: Broadening of Scope
Though based in Texas, the Caldwells have relocated to California to be part of the 500 Startups’ seed program. The duo also had the recent opportunity to meet with Joe Gebbia, cofounder and CPO of AirBnB, one of the team leads who has helped Airbnb grow exponentially. ShearShare’s focus on its users was only strengthened after chatting with Gebbia, who confirmed that Airbnb grew in a similar way. According to Gebbia, community tends to grow brands really well. This confirms what the Caldwells have seen with ShearShare, that there is a direct correlation between the number of bookings on the ShareShare app and the outreach events being produced. Though the time between becoming Startup of the Year and joining 500 Startups’ seed accelerator has been brief, ShearShare is still dedicated to its original mission. According to Tye, if anything, the experience has broadened their scope.
Startup of the Year
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