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Posts Tagged ‘InnoVision Awards’

WhatsApp Messenger

Friday, February 28th, 2014

Open, Connected, Successful

WhatsApp Messenter

Striking it rich, dreaming of endless wealth, and finding the veritable “pot-of-gold” is part of the dream that most every entrepreneur who creates a software application in today’s business environment is shooting for.  Entrepreneurs hope that the business will be attractive and sell for a ridiculous sum of money based on the evaluation. WhatsApp Messenger definitely struck it rich this past week when Facebook bought the relatively new firm for $19 billion dollars; $4 billion in cash and another $15 billion in Facebook stock options.

 WhatsApp Messenger Does What?

WhatsApp Messenger, a five-year-old-company, is a (not so) proprietary, cross-platform instant messaging subscription service for smartphones. In addition to text messaging, users can send each other images, videos, and audio media messages as well as their location using integrated mapping features.  Competing with a number of Asian-based messaging services (including LINE, KakaoTalk, WeChat), WhatsApp has over 450 million monthly active users around the world, and has been adding a million users daily.   According to the Financial Times, WhatsApp “has done to SMS on mobile phones what Skype did to international calling on landlines.”

Essentially, this application allows users to communicate between all different types of mobile phones on all different carriers, world-wide. All you need to do is enter your phone number and WhatsApp “looks” through your contact list for other people who are using the app. Then you can message those users all you want without limits or overage charges. The technology behind WhatsApp is not very complicated or even that proprietary; the application allows for Multimedia messages (an image, audio or video) to be sent to an HTTP server and then a link to the content along with its Base64 encoded thumbnail is sent to the contact indicated.  In the simplest of terms, the user sending the information does so by sending the information to a web server via the mobile app. The designated user(s) receive the message in the form of a link on the same mobile app.  The app is free to download and has no ads, but it costs $1 per year after the first year.

WhatsApp allows for the circumvention of regular SMS messaging which basically exploits a “loophole” in mobile phone carrier pricing.  Additionally and maybe even as importantly, WhatsApp is a stark reminder of how much money phone carriers are losing out on as competitors let users text and chat at no charge.  According to research done by Ovum Ltd, free social-messaging applications like WhatsApp cost phone providers around the world $32.5 billion in texting fees in 2013.  That figure is projected to reach $54 billion by 2016.  As more customers switch to smartphones with increased and better Internet access, people are relying more on applications such as WhatsApp to communicate.  This is particularly true in areas outside the United States where carriers do not include unlimited texting into voice and data plans.  The rise of these Instant-Messaging applications has offered a cheaper source of communication, especially between users located in different countries, and they are undercutting the texts that, up to now, had been a key source of income.

Why the Acquisition?

According to Mark Zuckerburg, Facebook acquired WhatsApp because it wants to, “make the world more open and connected.” But, did Facebook really acquire WhatsApp because it wants to enter the mobile phone market? (This reason has been suggested with other acquisitions).  J.P. Morgan analyst, Doug Anmuth said, “Facebook’s acquisition of WhatsApp gives the company a strong position in mobile messaging, which we think is a crucial part of the company’s core mission of connecting the world.” Still, others speculate that Facebook wants to expand their global social media footprint.   As TechCrunch’s Josh Constine notes, “WhatsApp is huge in developing countries. Facebook could also use WhatsApp to help bring more people online through subsidized Internet, which Facebook already offers in some countries.  The acquisition is a shortcut to owning those growing markets.”  Others believe that Facebook wants to corner the photo sharing market.  With a user base of 450 million (compared to 1.23 billion for Facebook), WhatsApp users send 500 million pictures back and forth per day, about 150 million more than Facebook users generate.   Maybe Facebook is weeding out the competition as it has did with Instagram while blocking any future deals with other rivals like Twitter.

What is certain is WhatsApp will provide mountain loads of data about the things that people world-wide are truly interested in; information which, until the acquisition, Facebook didn’t have access to.  This new data can then be used for targeted advertising on other Facebook properties.

Facebook’s acquisition of WhatsApp is definitely setting precedence in the acquiring of newly formed user-based start-up companies.  Using an “evaluation” process of the firm (number of users that currently use the application, combined with the potential income that may be derived from advertising to the user base, or from an increase in the cost of the app, or the possibility of adding additional revenue based services) instead of structuring an offer based on actual revenue (WhatsApp declined to comment on their sales figures) has stirred up the financial world.

With a rapidly developing coding community taking off in South Carolina, this news is both thrilling and exciting!  I know I am encouraged!  I am a serial entrepreneur with two established businesses in the Upstate, and beginning a third – a new social application called SocialSprig.  It is my dream, and the dream of many entrepreneurs like me, who hope that our startups ultimately have a higher evaluation than XEROX, Marriott, and American Airlines.

InnoVision Awards produced by Mojoe.net

Friday, October 18th, 2013

InnoVision Awards Backdrop

Liquid Video Technologies and Mojoe.net, have been chosen to produce the 2013 InnoVision Awards being held on November 14, 2013 at the TD Center in Greenville, South Carolina.

Once again Liquid Video Technologies and Mojoe.netwill be producing the InnoVision Awards Dinner which will include not only producing the show the night of the event, but all pre-production video of all applicants to the InnoVision Awards. The dinner highlights some of the most innovative and forward technology thinking companies in South Carolina.

Check out video from last years InnoVision Awards

InnoVision Awards Program is pleased to announce the finalists for the 2013 InnoVision Awards.

Community Service:  Momentum Bike Clubs;  Network Controls & Electric, Inc., and Taylors Free Medical Clinic

Innovation in Education:  Clemson University, Dept.of Bioengineering; SimuMed, LLC; and VU Room, LLC

Small Enterprise: Sabai Technology;  Southern Measurement Company; and Tarian Orthotics, LLC

Sustainability:  Sage Automotive Interiors; Sensor ElectronicTechnology, Inc.

Technology Application:  3D Systems;  Milliken & Company;  Selah Genomics, Inc.; and Techtronic Industries, Inc.

Technology Development:  Sealed Air Corporation;  Sealevel Systems, Inc.; Sensor ElectronicTechnology, Inc.; VidiStar, LLC; and Wolff Industries, Inc.

About InnoVision Awards Program:  The InnoVision Awards Program, founded by Deloitte in 1999 and presented by McNair Law Firm, P.A., is South Carolina’s premier organization dedicated to the advancement of technology in the state through communication, education and recognition of the spirit of innovation and technological progress.

For 15 years, The InnoVision Awards have become the mark of distinction for outstanding leadership, innovation and technological excellence.  As the only awards program of its kind, InnoVision Awards distinguish businesses, individuals and educators who set new standards for innovation in finding, developing and retaining profitable business.

If you would like Mojoe.net to discuss developing your web site, web application, need custom programming, or IT consultant, please do not hesitate to call us at 864-859-9848 or you can email us at dwerne@mojoe.net

Computer Hacking Liability – Are You At Risk?

Wednesday, December 19th, 2012

Presented by McNair Law Firm, P.A.

Please join us for the
InnoVision Forum:

Computer Hacking Liability – Are You At Risk?
What To Do To Avoid Data Breaches and Hacking and
What To Do If You are Hacked

From the US Government to the State of South Carolina, companies and organizations of all sizes are under attack from hackers. The threat of these attacks has escalated so that cyber security professionals admit it is almost impossible to achieve 100% prevention.  According to Verizon’s 2011 report, small and medium sized businesses, as well as governments and municipalities, are the main targets.  Please join us to discuss the legal liability associated with hacking for you and your company, leading edge prevention measures to avoid hacking, and what your obligations are in the event that a breach is suspected or discovered.  We will also discuss the role of the financial institution in these circumstances.

PANEL INCLUDES:

Douglas W. Kim
Attorney
McNair Law Firm, P.A.

 

  • Doug will discuss the current laws concerning security requirements including the Red Flag Rules, PCI Compliance, South Carolina specific laws and recent cases involving hacking.  His discussion will include the recent case where a bank was required to repay monies lost to a customer due to hackers ($345,000.00).

Frank Mobley
Founder and CEO
Immedion, LLC

 

  • Frank will discuss current IT security risks and the prevalence and method of hacking.  He will also include information on how you can better protect your organization against illicit and illegal attempts to garner private information.

Deveren Werne
Founder of Mojoe.net and
Principal of Liquid Video Technologies, Inc.

 

  • Deveren will explain PCI compliance for businesses such as why a business should be PCI compliant and, if not, what are the repercussions of not being compliant, and what a business should do to become compliant from hardware to software perspective.

Wednesday, January 9, 2013
3:00 pm – 5:00 pm Presentations ~ 5:00 pm – 7:00 pm Networking
Location – McNair Law Firm, P.A., Poinsett Plaza, Suite 700, 104 S. Main Street, Greenville, SC

Seating is limited, so please respond early

RSVP to Kathy Ham by email: kham@mcnair.net or by phone: (864) 552-9345

Founding Sponsor:
Deloitte Founding Sponsor of InnoVision Awards

www.innovisionawards.org

Celebrating excellence. Honoring distinction. Applauding innovation.

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