Hoot.me is a Facebook app that leverages the social network to help students better collaborate on projects, classes, assignments and more. According to the founders: “We switch your Facebook into study mode by connecting you with friends to collaborate on homework and projects.”
Facebook is a great platform for Hoot.me since Facebook began with targeting the student demographic and the company’s target market spends a great deal of time on the site. Also, since a typical student’s network will almost certainly be 100% on Facebook, the social interactions and collaboration potential is huge.
One of the downsides to a service that is completely tied to another platform is the possibility that Facebook would want to be involved in this space themselves and could shut out competitors. It’s not all that likely as Facebook wants to encourage developers to leverage the Facebook platform and keep more eyeballs on their site, but it’s still something to consider.
Hoot.me is going to monetize the platform by charging for tutoring services. A tutor will be able to tap into the platform and seek out students looking for help with a certain subject. It’s a great way to monetize the platform and help the students that are the core of the business.