IntroNet

IntroNet, founded in 2013 by CEO Mike Krupit and co-founder Martin Babinec, developed a platform focused on facilitating targeted professional introductions within private communities. The firm operated with the goal of moving beyond the dense and noisy environment of large social networks by leveraging trusted connections within specific groups like angel investor syndicates and professional organizations. After raising $1.5M in funding from investors such as Seed Philly and UpVentures, the company ceased operations in 2016.

The core of IntroNet's service was a web application that used an algorithm to create valuable connections. Members would outline areas where they required assistance and, conversely, specify the support they could offer to others. The system then processed this information to generate personalized email introductions between members with complementary needs and offers. This model aimed to unlock the collective value within a community by systematically matching asks with offers.

In a strategic move following its shutdown, IntroNet's assets, including its software and intellectual property, were acquired by SAM.AI in November 2018. This transaction was structured in conjunction with a seed investment in SAM.AI led by Babinec's venture firm, UpVentures. As part of the deal, IntroNet received equity in SAM.AI, and former CEO Mike Krupit took on a board role at the acquiring company. The business operated on a software-as-a-service (SaaS) model, with pricing structured on a per-user, per-month basis for communities, offering features like AI-powered matching, network analytics, and member feedback forms.

Keywords: professional networking, community management, introduction platform, AI matching, social software, referral network, angel syndicates, network analytics, relationship management, SaaS