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Hearo isn't accepting new investments

Hearo’s deadline was October 25, 2022

Follow the company to stay updated on their progress, including future investment opportunities


Explore new investment opportunities:
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Newest campaign Funded
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Hearo

The multiplayer future of entertainment, 90x more engaging than live streaming
Video & Streaming eSports Creator Economy
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Featured image of Hearo
$879,575
Total raised in 2 campaigns
2,458
Investors in 2 campaigns
Successfully funded and closed on October 25, 2022.
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Closed on October 25, 2022. Information may not be up-to-date. Campaign closed on October 25, 2022. Information displayed may not be up-to-date.
Problem Solution Product Traction Customers Biz. model Market Competition Vision and strategy Funding Founders
About Team Press

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by PiQPiQ, Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Hearo Crowd SAFE Hearo Form C.pdf
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Hear from some of the 314 people reserved or invested in Hearo


Show more

Highlights


$1M+ raised
Company has previously raised over $1M in capital
Republic alum
Company previously raised on Republic
Venture-backed
Company is backed by a venture capital firm
  • Over 1M people use Hearo as their virtual living room
  • Talk, text, and co-watch 50+ video services, full screen, together
  • On Android, iOS, Windows, Mac and desktop web
  • Over 500 engagements per user/show; an exciting in-venue like experience
  • Founder Ned Lerner: 5X entrepreneur, PlayStation exec, MOBA & VoIP pioneer
  • 35x usage growth in 18 months. 85 minutes per user/week engagement (USA)

Problem


61% of young people report serious loneliness

Gen Z is isolated by watching 7.2 hours of video a day, alone. While 'old' media is still stuck in the 1950’s—with passive, 1-way broadcasts—games leverage connectivity, simple interfaces, and high quality microphones to create truly connected, side-by-side experiences.


Global connectivity 10x’d the $200B game business.
Now it’s transforming the $2T media business.



The phone is the center of Gen Y & Z’s media and social life. Our phones don’t have to isolate us. They can connect us, like multiplayer games do.

Solution


Turn connectivity into community

Hearo has invested $3 million and 4 years of R&D, to turn the endless hours we watch alone into the perfect time to connect with friends—and (soon) to make new friends—who share our passions for movies, streams, sports, shows & events. 

Our platform transforms passive media into a connected, fun, social experience: a buzzing virtual venue with applause and cheering. Our users love it, with 18 months of viral growth to over a million users, long (hour+) sessions, and near 100% engagement, like in a physical venue.  


Can we make friends on the internet?
(Hint—join a Hearo Hub)


Skilled gamers can—like joining a sports team. But today there’s no internet equivalent of a friendly cafe or sports bar, a safe place to meet like minded folks. In Q2 2022 Hearo is launching Hubs, a 24x7 sports-bar like experience to meet and make new friends. 

Anyone with a shared passion, from superfans to media professionals, can own their own Hearo hub/franchise/DAO to create a gathering place—a global home base for media/show/sports lovers of all types, from Netflix to TikTok to ESPN.

The future of media and the metaverse is safe, 24x7, media-focused social hubs: virtual sports bars, theaters, classrooms, music/social clubs and other virtual venues, sized from living rooms to stadiums. Just like real sports bars or entertainment venues, these are places you can go, day or night, to watch your favorites with old or new friends.

Product


Zoom replaced the call
Hearo replaces the TV

The iPhone generation, hyper-connected and mobile first, watches more video, but 82% less TV than people who grew up when TV was king. Instead of staring passively at videos, Hearos talk, text and co-watch one of 50+ video services, together, from Netflix to ESPN. Multiple private ‘boxes’ per event, and robust echo cancellation lets Hearos talk freely, without bothering the whole audience. It works like this:

At heart, Hearo blends two technologies, a cross platform (Android, iOS, Windows, Mac and web), software based, smart TV, married to a fun, safe, voice based social network. We call our patent pending invention Multiplayer TV.

Try it for yourself. Go to Hearo.Live, download Hearo and invite your friends, the more the merrier, or join one of our upcoming Hearo Hubs and make new friends who share your passions.

Traction


1 million users and 35x usage jump since July 2020

Averaging 100% usage growth per quarter

It's still early. We're building a unique experience that more and more friends and fans are discovering.

—
Hearo is hyper-engaging

With 90x Twitch's engagements

Hearo delivers the buzzing, there-in-real-life feel of physical venues, not the muted experience of Twitch, Zoom and YouTube.

Customers


B2B2C

Like a physical venue, we have two sets of customers: end users who enjoy the show, and business users or partners who run the show.  Our virtual venues make our partner's media hyper-engaging, which drives buzz, loyalty, virality, and revenue.

—
Early Adopters

Friends aren’t the only ones who want to gather and have fun together. We’re working with the EBU, the world’s largest sports broadcaster, ESTV, All Elite Wrestling and more, as media creators need to connect and own their audiences, like games do so well. 

Our largest deal in 2021 was a $50,000 contract with the USAF, and we hope to create a hub or virtual venue for Air Force Gaming (esports) in the future.

Business model


Hyper-engagement maximizes revenues

We share revenues with our partners, from community hub leaders to media rights holders. We are developing the premium version of Hearo, with video avatars and more. We are researching DAOs for exclusive communities and NFTs for exclusive digital goods.

Longer term we see multiple revenue sources
@ $.25-$5 per user per month (estimate)

Market


Media and Entertainment is a $2.3 trillion dollar industry

See: PWC global entertainment and media outlook.

We bring the engaging user experience and technology from the $200B game business to the 10x larger media and entertainment and media market.

—
Hearo is mobile first (>90% Android and iOS) and 5G ready, in a world with 5+ billion mobile devices


Our users are global (100+ countries);


and young:

Competition


Like a game, couch,
or theater—

Not Zoom or Twitch

Twitch is the best known watch party. It works like a multiplayer game, twenty years ago. Hearo is different. Instead of typing with muted strangers, Hearos talk with friends—like they are sitting on a couch in front of a TV, or sharing a VIP suite, or playing a multiplayer game, together.

Twitch is one of the 50 video services we support. To let you watch all your favorites while talking together, we had to write the software to turn any phone or PC into a synchronized smart TV, and to build a high fidelity voice social network with robust echo cancellation—two difficult engineering projects. Maybe that’s why we are unique.


Media communities platforms comparison

Vision and strategy


Super Hearo & Hearo Hubs

In 2021, thanks to our first Republic campaign, we delivered our key objectives:

  • Integration the top 50+ streaming services, both video on demand and live streaming
  • Released on Windows, Mac, iOS, Android and web
  • English, Spanish, Portuguese, German, Arabic, Turkish, Malay
  • Increased usage 35x
  • First revenues ($50k with the USAF)


Investing in Hearo now gives us the fuel to:

  1. Launch Hearo Hubs - A 24x7 sports-bar like experience to meet new friends, something seemingly missing from the internet (outside of multiplayer games).
  2. Launch Super Hearo - A premium version of Hearo with live video performances, video avatars and more. Finally performers can hear their audience, and the audience can be heard!
  3. Begin monetization, and share revenue with our Hub and Super Hearo partners
  4. Raise a strategic A round
  5. Continue to grow like crazy! 

Funding


$3.49M raised to date

from VC's and prominent game tech angels

Investor

Bio

Republic
Leading private investment platform

500 Startups

Tim Chae, GP 500 Startups

Inspiration VC

Silicon Valley seed stage investment fund

David Kirk

Ex Chief Scientist NVIDIA. Winner 2019 IEEE Cray Prize

Milo Sprague
Ex CTO Silicon Valley Bank

Ross Koningstein

First Director of Engineering, Google

Rich Melmon

Co-founder Electronic Arts. Founder of Bullpen Capital

Michael Dornbrook

Founder Harmonix (Rock Band). Game-tech angel

Jez San (OBE)

Game and online poker pioneer

Chris Donner

Owner Berkeley Ventures

Peter Laventhol

Managing Director , Spark Investment

David YouCEO, Dream One Vision Singularity Fund


Founders


Ned & Co. makes new media platforms

Edward (Ned) Lerner, Founder and CEO

Ned wrote the game that Electronic Arts based their IPO on in 1987, Chuck Yeager’s Advanced Flight Trainer; cofounded Looking Glass Technologies, a seminal 3D game company; then Multitude, one of the first internet game companies; and FireTalk, the first million user Internet voice conferencing service. 

He was also the CTO of EA/Maxis—working on The Sims, when it was the world’s #1 game.

From 2003–2017 he was Director of Engineering at PlayStation, where he helped make the PS4, the world’s leading game console.

Dwight Kwok, VP Business Development

Dwight was the GM Greater China at Xsolla, where he was responsible for monetizing huge media and entertainment properties. He built and then managed trans-pacific business portfolio and P&L, including their brand and revenue growth strategies, and key partnerships with game distribution platforms and fintech partners.

Deal terms


Valuation cap

$25,000,000

The maximum valuation at which your investment converts into equity shares or cash.
Learn more

Discount

0%

If a trigger event for Hearo occurs, the discount provision gives investors equity shares (or equal value in cash) at a reduced price.
Learn more.

Minimum investment

$200

The smallest investment amount that Hearo is accepting.
Learn more

Maximum investment

$100,000

The largest investment amount that Hearo is accepting.
Learn more

Funding goal

$535K

The maximum amount the offering can raise is $535K.
Learn more

Deadline
Hearo needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd SAFE

A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event. · Learn more

Nominee Lead

Chief Executive Officer of PiQPiQ, Inc. (currently Ned Lerner)

Will direct the Nominee on certain matters like voting, amendments and conversions affecting the security.
Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by PiQPiQ, Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Hearo Crowd SAFE Hearo Form C.pdf

Bonus perks

In addition to your Crowd SAFE, you'll receive perks for investing in Hearo.
Invest
$200
Receive
  • Invitation to our annual investors meeting using Hearo.
24 investors
Invest
$1,000
Receive
  • Invitation to our annual investors meeting using Hearo.
  • Limited edition Hearo hat
  • Limited (1 left of 25)
8 investors
Invest
$10,000
Receive
  • Invitation to our annual investors meeting using Hearo.
  • Limited edition Hearo hat
  • Dinner in San Francisco with CEO or video conference call
  • Limited (2 left of 10)

About Hearo

Legal Name
PiQPiQ, Inc.
Founded
Jan 2015
Form
Delaware Corporation
Employees
0
Website
hearo.live
Social Media
Headquarters
Google Map location of of Hearo
1922 Lake Street , San Francisco, CA
Headquarters
1922 Lake Street, San Francisco, CA, United States 94121

Hearo Team
Everyone helping build Hearo, not limited to employees

Profile picture of Edward Lerner
Edward Lerner
Founder
Featured in Superheroes · Read
Profile picture of Dwight Kwok
Dwight Kwok
Co-founder & VP Business Development
Profile picture of Matt Toschlog
Matt Toschlog
Director of Engineering
Programmer and game developer for more than 30 years. Founder of Parallax Software, creator of Descent.
Profile picture of Sandy Climan
Sandy Climan
Advisor
President of EMV, a strategic and investment advisor focusing on disruptive tech impacting media and entertainment. Formerly EVP and President of Worldwide Business Development of Universal Studios, founding head of the corporate practice at CAA.
Profile picture of Milo Sprague
Milo Sprague
Advisor
Formerly CTO of Silicon Valley Bank, which works with 30,000+ start-ups. Currently Milo is part of FTV Capital’s investment team focusing on technology strategy and due diligence. FTV has raised ~$4 billion to invest in 120+ high-growth companies.
Profile picture of Eric Goldberg
Eric Goldberg
Advisor
A board member, advisor or consultant to AT&T Wireless, Bandai Namco, BBC Worldwide, EA, Goldman Sachs, SEGA, Square Enix, Warner Music and multiple VC firms. Eric advised on the acquisitions of Pixelberry/Nexon, Playdom/Disney, PlaySpan/VISA
Profile picture of David Futscher
David Futscher
Software Developer
Profile picture of Kyle Granger
Kyle Granger
AV Expert
Profile picture of Karthisamy Selvadurai
Karthisamy Selvadurai
Android Lead
Profile picture of Ambreen Younas
Ambreen Younas
QA Manager
Profile picture of Carman Lam
Carman Lam
Marketing Manager
Profile picture of Michael Medley
Michael Medley
Analyst
9 more team members
Edward Lerner
Founder
Dwight Kwok
Co-founder & VP Business Development
Matt Toschlog
Director of Engineering
Sandy Climan
Advisor
Milo Sprague
Advisor
Karthisamy Selvadurai
Android Lead
Eric Goldberg
Advisor
Ambreen Younas
QA Manager
David Futscher
Software Developer
Kyle Granger
AV Expert
Carman Lam
Marketing Manager
Michael Medley
Analyst

Press

Ex-Sony PlayStation Gaming Executive and Serial Entrepren...
AP NEWS AP NEWS
·
Dec 22, 2020

SAN FRANCISCO, Dec. 22, 2020 /PRNewswire/ -- Inspired by the world of multiplayer gaming, ex-Sony gaming executive and CE...

Exclusive interview with Ned Lerner - Founder of Hearo.Live
The Envoy Web The Envoy Web
·
Dec 22, 2020

Do you love multiplayer games? Being able to chat while enjoying the game is something that has enhanced the gaming indus...

Hearo.Live Interview, The Future Of Live Streaming, Cyber...
Computer America Computer America
·
Dec 18, 2020

Hearo.Live allows you to connect with your friends and our online community to do the thing we always want to do together...

Hearo launches its desktop and mobile co-watching party app
VentureBeat VentureBeat
·
Dec 17, 2020

Hearo has launched its Hearo.Live service for watching movies and other events with your friends on desktop PCs and mobil...

Ned Lerner CEO Hearo.Live | Chuck Pettid CEO Republic
YouTube YouTube
·
Sep 24, 2020

Ned Lerner CEO Hearo.Live | Chuck Pettid CEO Republic Chuck is the Senior Partner & CEO, Republic Crowdfunding Portal, a ...

Live w/ Ned Lerner CEO at Hearo.Live : "Talk and Watch To...
YouTube YouTube
·
Jul 2, 2020

Live on The Level Up Experience with Ned Lerner CEO at Hearo.Live Ned is an innovator in new media platforms. He wrote EA...

Hearo.Live: Going Virtual With Live Events
Nasdaq Nasdaq
·
May 29, 2020

InvestorPlace - Stock Market News, Stock Advice & Trading Tips Technology has certainly helped to deal with the terrible ...

Ned Lerner- CEO Of Hearo.Live- A New Way To Watch With Fr...
AsiaTechDaily - Asia's Leading Tech and Startup Media Platform
·
Apr 20, 2020

Ned Lerner is the CEO Of Hearo.Live. Hearo.Live's Venue as a Service (VaaS) turns media time into friends time and websit...

Meet the Drapers | Vivoo, Hearo.Live, and Genobank.io wit...
YouTube YouTube
·
Apr 20, 2020

Tim, Bill, and Polly Draper are back to find investment-worthy companies. In this week's episode, the Draper family invit...

Hearo Live Is Fixing Live Streaming by Pairing You with F...
DualShockers
·
Mar 9, 2020

Whether you watch Twitch, Mixer, or YouTube Gaming, video and live streaming has become the predominant way to enjoy your...

Hearo.Live Launches Beta After Raising $1.8M in Funding
ARCHIVE - The Esports Observer ARCHIVE - The Esports Observer
·
Feb 10, 2020

Hearo.Live, an online platform where viewers can watch videos and esports in online virtual rooms, has launched its open ...

Hearo.Live launches esports viewing open beta and raises ...
VentureBeat VentureBeat
·
Feb 7, 2020

Hearo.Live has launched its open beta for viewing esports events online in virtual rooms with your friends, and that's ha...

Esports viewing pool website launched with $1.8m funding
EsportsJunkie.com EsportsJunkie.com
·
Feb 7, 2020

With its $1.8 in funding, Hearo.Live has started its open beta for on-line esports events in virtual rooms with your frie...

Edward (Ned) Lerner - Hearo.live
YouTube
·
Dec 26, 2019

Lightning talks Drivetime HearoLive Lucid Sight and more ...
YouTube YouTube
·
May 18, 2019

Lightning Talks with Niko Vuori, CEO of Drivetime, Ned Lerner, CEO of Hearo.Live, Randy Saaf, Co-Founder & CEO of Lucid S...

Teleport Group
Teleportgroup Teleportgroup

Edward Lerner has been part of the gaming industry for decades. He wrote the game that Electronic Arts based its IPO on i...

Meet 500 Startups' 25th batch of startups
TechCrunch TechCrunch

It's that time of year again. When startup founders fret for weeks on end as the long-awaited Demo Day approaches. Invest...

Beyond 'Netflix Party': Startups and their VCs bet we'll ...
TechCrunch TechCrunch

Last year, during the pandemic, a free browser extension called Netflix Party gained traction because it enabled people t...

Show all
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Hearo

Hearo successfully raised $222,715 from 314 investors on October 25, 2022
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TRISTIN, Tom, Hasan, Paul, Steeve, and 309 others invested. 32 Reviews
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