INSUBCONTINENT EXCLUSIVE:
As we spend more and more time on our phones, working busier and busier jobs, and leading more and more overwhelming lives, personal
connection with others is harder and harder to come by
HeyMama wants to change that.The premium social network is aimed squarely at working mothers, looking to give them a space to connect,
communicate and learn from each other
The company has today announced the close of $2 million in seed funding, with investors that include Rebecca Minkoff, Kori Estrada, Kathryn
Moos, Janna Meyrowitz Turner, Divya Gugnani, Alison Wyatt, Sari Azout, Kymberly Marciano and Karen Cahn, who were HeyMama members
Keith Belling also invested in the round.HeyMama has several moving pieces, but the biggest and most important is the platform itself
ability to learn more about other members and even email them directly.Interestingly, HeyMama is a bit of a hybrid in terms of the value
Moms can come in and ask about baby food recommendations and hunt for an engineer to join their company all in the same session
purposes.Another piece of the business is HeyMama events
The company holds events in 11 cities across the country and earns revenue via brand partnerships
For example, Lincoln Motor Company is a sponsor for the 2020 mentorship event series.Libin said that the offline component is a huge reason
why many moms join, as there is no substitution for face-to-face connection.As an added bonus, HeyMama negotiates membership perks for
users, giving them a discount on interesting products and services.The company says that 85% of its members come via word-of-mouth referrals
When new users do submit an application, those applications are vetted by humans
The founders said that the acceptance rate is about 85%, with HeyMama primarily focused on bringing on new members that can also offer help,
not just ask for it.HeyMama membership costs $35/month or $349/year.The company did not disclose specific numbers around membership, but did
