Hatch Labs is an incubator and captive fund building new mobile businesses from ground up.
With investment and resources from IAC and Xtreme Labs (acquired by Pivotal), each entrepreneurial startup team rapidly prototypes new applications and services to best serve the evolving world of mobile. Hatch is not an accelerator. Hatch hires and nurtures technology entrepreneurs and improve a world built, consumed, and reinvented by the wireless generation.
Hatch Labs successfully deployed all the capital from the first fund, building over 10 startups from ground up in two years, including Tinder, one of the fastest-growing social discovery companies globally.
Tinder: Following an early alpha concept of Tinder (then Matchbox), which won an internal hackathon in Feb 2012, judged by Dinesh Moorjani, Hatch’s CEO, Sean Rad and team expressed continued interest in building the product. Hatch green lighted the refocus of the team, who was passionate about the problems surrounding social discovery, from Cardify to Tinder following the TechCrunch Disrupt Finals in NY in May 2012, Tinder’s development commenced. The founding team built successive versions of the product in closed beta, testing the user experience. Dinesh moved to the Tinder offices two months prior to help oversee the launch. Under Sean’s guidance and with Justin Mateen joining the team to innovate and accelerate marketing efforts in Sep 2012, Tinder successfully seeded the consumer market at prominent Universities, resulting in rapid, organic growth. Under Hatch’s guidance and leadership from the founding team led by Sean Rad, Tinder was spun out of Hatch Labs with additional captive funding to become a rapidly growing company.
Although IAC and Xtreme Labs expressed a continued commitment to the second Hatch fund in Aug 2012, Hatch closed new investment operations of the captive fund, with IAC and Xtreme’s support. With the financial relationship from the first fund in tact, Dinesh spun out the rights to operate Hatch II independently to streamline the investment committee and separate public company operations from Hatch’s needs.