More Than Just a Group Video Call
Hubilo’s startup business provides more than a screen filled with the faces of all video call attendees. Founded in 2020 by entrepreneurs Mayank Agarwal and Vaibhav Jain, the startup company offers many features that mimic the physical setting of a large event venue. The platform designed by the California-based business sports interactive sessions that support live Q&A, chat, and polls. But beyond the live session, Hubilo also allows for the creation of breakout and demo rooms with exclusive access, virtual booths for exhibitors, digital lounges for networking opportunities, and even game and contest integrations.
The startup business claims to have hosted over 2,500 virtual events and over 2 million attendees across more than 100 countries.
Now Is the Time to Be a Virtual Company
Hubilo managed to pivot its company right into a very lucrative market. Virtual businesses across a number of sectors have reported jumps in users and revenue. Zoom saw Q4 2020 revenues rise 78% year-over-year (YOY) to $188.3 million, while Amazon posted record-breaking Q4 net sales exceeding $100 billion.
Hubilo claims its business has been “growing its month over month revenue by over 50% consistently” since April 2020. Market research expects the global virtual events market size, valued at nearly $78 billion in 2019, to grow at a compound annual growth rate (CAGR) of 23.2% from 2020 to 2027.
About the Author
James White is a Michigan State University graduate with a BS in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.