What problem(s) are you solving?
- attaching video and other large files to email just doesn’t work
- low quality video looks terrible on large high resolution displays
- video quality improvements are outpacing bandwidth improvements
- text-based email is impersonal and often lends itself to misunderstanding
- video streaming is frustrating and forces reduction of quality and reliability
- large quantities of off peak connectivity goes unused
What is your secret sauce? What are you doing differently?
Most others are concentrating on streaming solutions which work well for the best internet connections (but still have issues). To see a realistic global view of internet connectivity visit the Royal Pingdom
. As video quality continues to increase and we tranistion to 3D, panoramic and encrypted video formats, file sizes are going to grow exponentially.
Veamcast allows a user to stream if they want to view something on demand. But once a Veamcast user has subscribed to their channels, our system will synchronize content to the device. In effect, we predict what content they will play and cache it so it plays at the best quality without annoying stream buffers and drop offs. We can synchronize off peak to alleviate network congestion. We can also cache high quality, highly targeted advertising and social promotion to play between clips.
Since Veamcast supports video and voice communication as well as entertainment, we believe the app will be sticky in the sense that people will continue to use it contains because their message history. Both the communication and entertainment aspects will help us go viral.
Where are you located?
Dumaguete City, Negros Oriental, a major education hub of the Philippines with 11 universities and colleges. Dumaguete was rated #5 in Forbes Magazine best places to retire around the world.
We make large use of OJT talent. We are also planning a presence in another country, depending on where our investment comes from. Development will be spearheaded in the Philippines and, most likely, marketing and other functions elsewhere. Our product is ideal for remote collaboration from different time zones so we can be very global and run a 24 hour operation.
What is your business model?
We currently have two pro-formas we're looking at:
One is a model where we extend our service for free (a very large limit on the amount of bandwidth and storage a user can have) and try to survive solely on the incredible opportunity for advertising and online sales that our product offers. This includes providing custom experiences for large user base companies and share revenue with them.
Our second model relies more on user subscription fees which will unlock content licensed through partnerships and/or premium features such as voice transcriptions, extra storage, voice mail integration and others we might discover people want.
Either way, we need to establish limits for users and charge for excess usage so we surely think both revenue models will get tested but we hope we can concentrate more on the free model and grow quickly with low overhead and risk.
What will you use the next round of funds for?
- small central office with a lab and conference room
- hire a small number of mentors and a large number of OJTs
- hone and finish software
- purchase hardware software licenses and security certificates
- establish marketing programs for the General User Market
- concentrate and iterate based on which models and features works best
Tell us about your team.
- Joe Dean, our founder, started programming on his Commodore SX64 while he was in the U.S. Navy in 1985. Joe is a full stack Microsoft developer. Joe's worked at RSVP call center in NYC, Bigfoot.com in NYC, Neoplanet, Woodstock Systems, Movielearn, Bigfoot Global, Cyberbox, and was founder and CEO of Electronic Sports. Joe has an MBA from Baruch College in New York where is he is from.
- Seth Abangan and Joe have been working together since Joe first visited the Philippines in 2003. Seth specialties are XAML, web dev and 3D modeling. His startup Classemo is planning to promote and monetize Veamcast to do video parent/teacher conferences. He is also working with startup VOX on a kiosk/signage product that will use Veamcast.