Udeo.Me wins Elizabethtown pitch contest
ELIZABETHTOWN, Ky. – A new Owensboro-based tech company, Udeo.Me has developed innovative technology that provides a new form of social media. Users with the app will be able to share live video streaming on request to other users anywhere and anytime.
“Say you want to watch the sunset in Los Angeles, see what’s happening in Panama Beach during spring break, or take a short tour with someone around the streets of Paris,” said Grant Gipe, CEO of Udeo.Me.
Udeo.Me users will select a location that they would like to send a request to, and enter up to five tags or themes explaining what they would like to watch. Users logged into the app in the selected location receive a notification message and have 30 seconds to accept or reject the request. A list of up to 10 broadcasters will be returned to the requestor, who then selects from the list.
Each broadcast is limited to five minutes in duration and allows the requestor to see the broadcaster’s live video stream. Members of the public can join a livestream and participate by opening a chat session.
Gipe expects Udeo.Me will be a great platform for journalists, news outlets or individuals interested in a breaking news event such as a natural disaster, a campaign rally or a red carpet event. Anyone with a smartphone will be able to send a request to anyone else at the event who is willing to broadcast.
The company is developing a growth strategy that includes an ad-supported revenue model and the option for broadcasters to charge pay-per-view fees for live streams. The company plans to have the app ready for iOS, Android and Windows phones in early 2016 with a version in English for North American and European markets. Mandarin Chinese, Spanish, Japanese, Korean, Portuguese, German and French versions will follow.
With a projected 2.5 billion people gaining access to smartphones by 2018, live streaming represents a market poised for massive growth. Millennials spend an average 75 hours a month using apps, according to comScore, a digital research firm.
Udeo.Me won the latest Kentucky Innovation Network regional pitch competition in Elizabethtown recently. The win comes with a $1,000 prize and an invitation to pitch to the Kentucky Angel Investors Network in Frankfort this fall. Udeo.Me is in the middle of a $300,000 round of seed funding.
Image courtesy of Udeo.Me