How to Profit from NFTs & Redefining Professional Networking w/ Alex Taub, Co-Founder & CEO of Upstream
How Upstream is Transforming Professional Networking
In a recent episode of the Innovation with Mark Peter Davis podcast, Alex Taub, co-founder and CEO of Upstream, shared insights into how the mobile-first community platform is redefining professional networking. Upstream aims to fill the gaps left by LinkedIn, especially in professional groups, API utility, and strength of relationships. This article explores the key points discussed, focusing on Upstream's mission, the challenges of building a community app, and the innovative features that set it apart.
What is Upstream?
Upstream is a mobile-first community platform designed to enhance professional networking by addressing the shortcomings of existing tools like LinkedIn. The platform allows users to create and manage professional communities more effectively, offering features that facilitate live events, giving and getting help, and asynchronous interactions.
Why Upstream?
Alex Taub and his co-founder Michael Schoenfeld launched Upstream after their previous venture, SocialRank, which relied heavily on third-party APIs like Twitter and Instagram. They learned the hard way about the pitfalls of dependency on external data sources and decided their next venture would be more self-reliant. They aimed to build a tool that they, as users, would find invaluable.
How Does Upstream Differ from LinkedIn?
Filling the Gaps
While LinkedIn excels as a digital resume platform and data provider for recruiters, it falls short in areas like professional groups, API accessibility, and relationship management. Upstream aims to fill these gaps by offering a more interactive and engaging community experience.
Groups and Community
LinkedIn's group functionality is limited and often ineffective for meaningful interaction. Upstream offers a more dynamic community experience with live events, asynchronous interactions, and robust admin tools. These features make it easier for community leaders to manage and engage their members.
Utility Features
One of Upstream's unique selling points is its focus on utility features that enhance professional interactions. For example, Upstream's upcoming Reconnect feature will allow users to log in with their Gmail accounts to track and manage professional relationships. This feature aims to help users reconnect with colleagues and contacts they've lost touch with, ensuring stronger professional bonds.
Building a Successful Community Platform
The Human Element and Technology
According to Taub, an active and engaged community requires both a human element and advanced technology. Upstream aims to reduce the burden on community managers by providing tools that automate many of the tasks associated with running a community. This includes features like automated event scheduling, follow-up reminders, and customizable engagement rules.
The Importance of Timing and Market
Taub emphasizes the importance of timing and market conditions in building a successful platform. He believes that even with a great team and product, poor timing or a small market can hinder success. Upstream's focus on current professional needs, such as reconnecting in a post-COVID world, demonstrates their awareness of market timing.
Continuous Innovation
Upstream continues to innovate by adding new features based on user feedback and market trends. For instance, they are working on admin tools that offer more control and automation for community managers. This includes an "if this, then that" system for managing member engagement and participation.
Why Upstream's Approach Works
Focused Features
One of the reasons Upstream is gaining traction is its focused approach to feature development. Instead of trying to do everything at once, they are building and refining features that address specific professional needs. This method allows them to create more robust and user-friendly tools.
User-Centric Development
Taub's experience and understanding of the professional networking space have been crucial in developing a platform that meets users' needs. His background in business development and analytics helps him identify the pain points that professionals face and create solutions that address those issues.
Community and Ecosystem
Upstream is also looking to build an ecosystem around its platform. By eventually offering an API, they plan to allow other developers to build on top of the Upstream ecosystem. This could lead to a variety of specialized applications that enhance the core platform's functionality.
FAQs
What is Upstream?Upstream is a mobile-first community platform designed to enhance professional networking by offering features like live events, asynchronous interactions, and robust admin tools.
How does Upstream differ from LinkedIn?Upstream focuses on filling the gaps left by LinkedIn, particularly in professional groups, API utility, and relationship management.
What are some of Upstream's unique features?Upstream offers unique features like the Reconnect tool, which helps users manage and reconnect with professional contacts, and admin tools that automate community management tasks.
Why is timing important for Upstream's success?Timing is crucial because it ensures the platform addresses current professional needs. For example, the focus on reconnecting in a post-COVID world aligns with market trends.
How does Upstream plan to build its ecosystem?Upstream aims to offer an API that allows other developers to build specialized applications on top of the Upstream platform, enhancing its functionality and user experience.
How can I join or create a community on Upstream?Visit Interplay VC to learn more about Upstream and explore community-building opportunities.
Where can I listen to more podcasts and learn about innovation?Check out the Interplay VC Blog for more podcasts and discussions on innovation and venture capital.
Are there opportunities for startups and entrepreneurs at Upstream?If you're looking for an incubator to support your startup journey, visit Interplay VC Incubator for more information.
By understanding and supporting innovative platforms like Upstream, professionals can enhance their networking and community-building efforts. Engaging with these tools is a crucial step towards building successful and impactful professional relationships.