Ricardo is CEO and Co-Founder of Hoopy, an online marketplace for old cars. 10 years in automobile sectors inspired him to develop a more efficient and environment-friendly model for used cars trading in Portugal…


Can you tell us a little more about your project?


So far, there were only two ways to buy or sell a car: traders or individuals. Hoopy is an innovative concept that combines the advantages of both forms: security and no marked-up price. We want to position Hoopy as a provider of a custom car mediation service, acting as a business enabler. In this context, the company emerges as the answer to the latent need in the market of such value as security and transparency.

Did you face any obstacles and how did you overcome them?

It’s been a very difficult journey, both professionally and personally.
Professionally, I started with almost no money, no network, no investors and no team.
Personally, already I had my lovely wife and my beautiful two year old daughter and many bills to pay and I ́m still looking for investors and a team. Therefore, being supported and surrounded by your family, your friends or people you can rely on is essential to set-up a business.

What innovative feature did you develop for Hoopie?

Hoopy aims to revolutionize the 70-year-old market for buying and selling used cars by applying digital communications. By eliminating the position of the trader in the cycle of buying and selling, we have more competitive prices and transparent service. Our “Hoopynspector” frees buyers from lengthy inspection, as the work is already done by us.


Do you have other tips leading to success?

The key word is to relativize. Much of what we read in business forums and entrepreneurship books is not quite true in real life. It is not impossible, but it is much more difficult than what you read or successful examples of some (very few) self-made business-owners. Pay attention to the country and culture where your business is located.

Believe in your team and in your business. Try everything but don’t forget to put things into perspective: not all companies are “Apple”, not all entrepreneurs are “Jobs”, not all sites are Silicon Valley, not all investors invest.

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