Late last month, Entervestor reported that Fredericton-based startup OneLobby has received funding of $500,000 to go along with a renewed company focus. The Canadian start-up last appeared in the news in July when it was made public that Brian Dunphy had left SalesForce acquisition Radian6 in order to join the conference support company OneLobby. Only a few months after his joining the start-up, the firm was able to secure half a million in funding and pivoted its business to put all resources and skills towards event management.
OneLobby’s original business model called for revenue generation from conference organizers. The company though that their solutions for making a conference attendee’s life easier would be something that conference organisers would relish and therefore be willing to pay for in order to make their events more attractive and innovative. OneLobby originally thought of creating a social network for all of the conference attendees so that they could collaborate and network with like minded individuals.
OneLobby eventually decided that in order to get better results they would need to change their business model and focus on the event organizers due to the fact that they are the individuals who pay for conferences. Sice that paradigm shift, the start-up’s services are focused on making the lives of conference organizers as easy as possible.
Jordan Smith, CEO of OneLobby, stated that, “We’re now focused on event management. We’ll still do the event networking, but it’s no longer the same focus. The new focus will be a collaborative Software-as-a-Service solution that will help conference providers organize and manage events, so they can contact suppliers, book speakers, etc.”
Source: TechVibes
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