Before a startup can raise money, it needs users—proof that the concept works. But to attract those users, it needs that money. The result of this catch-22? A bunch of startups stuck in first gear, without users, money, or the means to get either.
Wahooly, a startup itself, has tapped elements of social media, advertising, and good old-fashioned competition to rectify the problem. The company describes itself as Klout-meets-Kickstarter-meets-Shark Tank (even though its name sounds more like Yahoo-meets-the Cleveland Indians-meets-Bitly).