Moscow-based IT company Hot-WiFi has announced its entry on the US market. The Russian startup offers businesses a guest WiFi hotspot network with marketing functions and data analytics services. This approach may increase the turnover of a coffee shop, for example, by 10% as shown by a business case in Moscow.
Founded in 2012, Hot-WiFi has users in 16 countries in Europe, Asia, Eastern Europe, Canada and the Middle East — claiming more than 8,000 corporate clients for its product WiFi Radar.
In the next two years, the company expects to reach a stable annual profit of up to $1.5 million.
“We decided to enter the United States for a long time, after analyzing the market, demand, and the local legislation. We reached out to an American entrepreneur who was interested in our Wi-Fi marketing technologies. He helped us understand the specifics of the US market,” said Hot-WiFi founder Dmitry Stepanenko in an exchange with Rusbase.com.
However, the process of entering the American market has not been rosy: “This market is very different from ours,” Vadim Vinogradov, technical director, told Rusbase.
“There are completely different situations in terms of equipment, legislation and mentality. There is a hypothesis that the American Wi Fi marketing market is completely empty, and the demand for it is large. Therefore, we will test different approaches and hypotheses to expand there,” he added.
