B-Social has secured £7.8m in funding and is now dropping the hyphen and getting a short new name.
The company that is building a social bank is rebranding to Kroo.com.
The domain was registered in 1996 and was purchased on NameJet for $2,555 in 2016.
According to BusinessCloud.co.uk B-social has over 8,500 customers who have spent more than £1m with their B-Social cards and have shared over 36,000 expenses with friends.
Tip of the cap to Lox
Just a thought talking to myself!
From the many 4L names available why would you go with a name that doesn’t pass the radio test
plus every time you mention your email you’ll have to spell it out john @ Kroo k r o o . com
Sadly getting funding doesn’t translate into getting the right advice.
So many short pronounceable nice words out there for a social platform
To me the RT is not much of an issue here. It is a (different kind of) bank, and unless it is different than here banks never communicate with customers via email for obvious security reasons. Also, the vast majority of web searches will be Google completed, so as long as the potential customer can remember kr…. it will find them (after some marketing).
For me, the bigger question is, why kroo? Perhaps I am missing something, but I don’t see any obvious link between this name and their past name or their service (unless kr from credit, but that is a stretch). I think most strong brands have some, even tenuous, link or hint. I would have paid a bit more, and got a pronounceable 4 to 6 L name that hinted at their service.
Kroo appears to be a well known sports betting app, so that will also create resistance in differentiating their new brand.
But of course, they know their goals better than we do.
Bob