Andrew J Scott – CEO (iPhone application and http://www.rummble.com is their presence)
Where has location been? It is finally coming of age.
When starting a company make sure to research your name. As across countries they have a different meaning.
Location is now a commodity.
Who is Nearby is NOT a business. Loopt started a few years ago, is US based and in the US only. But no revenue model.
It’s all about the data, manipulating data. Take Google for example. This is how they became successful. By providing data accurately and fast.
It is a painful process to get local content that is relevant to me. When I land in Amsterdam I really want to see only those places that I would like based on everything I have liked before….
Many recommendation sites are available, if I have the time I can spend it. On the mobile I can spend 20 mins but in real life I need this information in like 30 seconds.
Asking a question on a social network is also a way Facebook got a resposne in 20 mins. Twitter got one in 3 mins.
You gotta have rythm…. Pandora, last.fm etc
I want my location based information
- the time
- my location
- my tastes
Hence : Rmmble.com
Rumbble works on your friend network and your trust on rummble’s you like. If you read a rummble, go to the place and say, yup I agree with this or i dont. This gives them enuf data to recommend rummbles to you.
The more you contribute the more you get back. ie: add rummbles, tage places, trust/distrust rummbles and as this information in the DB increases your link into the network gets deeper. As it gets deeper you get more relevant information out of it….
[New user engagement is going to be a real issue here. Unless they can get this thing to grow virally by people getting their friends to join in and start contributing, much like facebook grew, I would think this would sturggle. But definitely a great start.]
Rummble.com : FTW!
[I missed some bits in here…]
Extracting data from your data using linkeddata.org
Using taxonomies and ontologies amongst english language words is the key to providing relevant information. If I say Amsterdam Dinner I do mean restaurants or pubs so the service should show both and more.
Monetizing will come from advertising, white label products for other people,
They have launched a white label product for Total Hotspots and the app will be sold via the app store and will get a revenue share from it.