The WAVE application for Smart phones is a “friend-to-friend location system”, which enables family, friends and colleagues to locate one another. This Spanish startup has already found its niche and is aiming to take over the field of location Apps.
KITE Invest: Before discussing WAVE specifically, please explain how the WAVE Application team came together and entered the App market? Was there any particular mentor or catalyst behind the company’s formation?
WAVE: The four Founders and myself worked together for the last four years in a tech-creative agency that we also founded ourselves. We were young but winning important pitches against big international agencies, which meant we were working for international brands, handling big budgets, and launching and executing successful ideas for these companies. But even with these accomplishments, we felt we could do something for ourselves; we knew we had the capacity and ambition to create a game-changing product for the world. We complement each other perfectly; making the perfect team to achieve whatever goal we set for ourselves.
KITE: What do you consider to be the top features of WAVE that differentiate it from competitors? Why is this product relevant?
WAVE: The big companies that share our concept, such as Apple’s Find my Friends, Google’s Latitude or Glypmse, really differ from Wave. Furthermore, they haven’t really been accepted by the user as of yet, mainly because all of these other products have privacy issues, place strong entrance barriers, have a really complex interface, poor user experience, etc. etc. . . .
Or main differential elements are PRIVACY, BI-DIRECTION, TIME EXPIRATION, LIVE + REAL-TIME and a CLEAN + SIMPLE UX/UI.
This means we are facing an orphan market and therefore, a huge opportunity. Wave is the solution of finding each other. The user is demanding an efficient and effective location service, and there’s no actual solution!
KITE: How does WAVE differ from text messaging, face time and/or calling?
WAVE: How is it possible that we’re still calling or texting to locate each other?? With all the possibilities that technology offers us, do we really need to call and say, “Hey, where are you? I can’t see you”. The only other possibility is to open a chat app to share our location, but this is only a static location, because they do not process real-time movements.
We need to be able to find each other in a easy, simple but dynamic way.
In Wave you open private maps with your contacts in which you can see both of your positions in real time for as long as you both wish. That’s what we call “geo-conversations”. So it’s not a chat or phone call – it’s a super effective and simple personal and private location service provider.
KITE: Having only launched in January of this year, the application has already received attention and has been trending well with customers of the Apple’s App Store and it will soon be launched for Android. As a startup, in terms of marketing and communicating your product / brand, what have been some of the most rewarding and/or surprising tactics?
WAVE: Fortunately, digital communication and social media allows us to communicate exactly what we want and to whom we want. We can focus the message to a determined group of people.
Wave is for everyone. We face a universal target. Business meetings, parents and daughters, ski trips, music festivals, dates, friends, reunions, etc.
But we need to be able to divide each niche and offer them Wave they really need it. From my grandmother to my son, everybody can find a great use for Wave in his or her own terms. Therefore we focus our message to each individual.
We have appeared in 60 plus specialized media, we have five stars reviews on the app store, and we have been invited to the most important tech summits in the world.
KITE: To date where is your current largest consumer market and what are some of WAVE’s goals in terms of penetrating other markets?
Our current strongest markets are business, friends and sports. But as I mentioned Wave is for EVERYONE. It must become a “must” in every smartphone. We will continue focusing on the other niches. One starts growing and connecting with the rest; the viral effect of the app will mean millions of users.
KITE: With regards to investors, what is WAVE looking for from potential future investors? And in return, what are some of WAVE’s most appealing qualities that they can offer investors?
We have recently closed a first round and will start moving the second round at the end of this year. Wave is looking for partners who share our vision and ambition; partners who can offer value to the project apart from just the money.
Why should investors invest in Wave? There are 5 main reasons:
1. Market size and opportunity
2. Product & Idea
3. Validated by investors
4. Validated by users, press / media & tech professionals
But most of all;
5. The team – We have the experience, expertise, knowledge and ambition to become lead and make Wave a top app worldwide.