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Introducing Color.com: The 41 Million Dollar Idea

introducing Color.com {the 41 million dollar idea} What is it? "Color" (color.com) is a social app for your smartphone that simultaneously captures every phone sensor it can access (GPS, audio, video, text). With this information, Color can give you a way to see everything that's going on around you, and everything that's going on around the people you care about. In March of 2011, Color closed a $41 million round of Series A funding before its product was even available in an app store. The Color Team Bill Nguyen DJ Patil Peter Pham cO-FOUNDER & CEO CHIEF OF PRODUCT cO-FOUNDER former Head of Data Products, Chief Scientist, and Chief Security Officer at Linked in co-founder of Lala, founder of Onebox former CEO of Billshrink.com, VP of Business Development at Photobucket.com The color team currently has 27 employees "We're trying to create a new social network really around the post-PC world." Bill Nguyen The Funding Breakdown As of March 2011, Color has closed on $41 million in total funds -17% $7 million in venture debt from Silicon Valley Bank - 60% - 22% $9 million from Bain Capital $25 million from Sequoia Capital Sequoia's investment in Color represents about 2% of their entire portfolio Total Sequoia Investments - $1.5 billion "We raised a lot of capital and we have a long way to go." Bill Nguyen The $350,000 domain name Color bought "color.com" from its previous owner for $350,000. Color also bought "colour.com," which means they probably spent close to $500,000 for the pair. Heavy spending on domain names is not uncommon in the business world. In fact, spending $350k for color.com was a relatively small investment compared to what other domain names have been bought for. Relative sizes of famous domain name purchases Color.com, $350,000 (2010) Toys.com, $5,100,000 (2009) Business.com, $7,500,000 (1999) "We're a data mining company." Bill Nguyen The Buzz Color has attracted a huge amount of attention-partially due to the $41 million funding announcement. Questions arose regarding the judgement of Sequoia Capital-Color's largest single investor. Was it a frivolous investment? Was it a genius move? Only time will tell. The internet, of course, was ripe with opinion . The Nay-sayers The Yea-sayers Pretty excited about the launch of @peterpham Com Also, in my experience, getting trashed hardcore only makes you better. Caveat: You have to be sort of good to begin with. ecolort or today, It's brilliant. @joshelman @alexia it really cracks me up when investors in tech startups trash other competing startups. get real people. grow up. i'm not even in silicon valley and i'm sick of hearing about color. @stevecheney @sarahcuda If Color (received] $2om [instead of] $4om this wouldn't be an issue. folks should look at the actual "product. @jason "We're going to build a intelligent system that allows businesses to participate with their customers." Bill Nguyen The Business Model The Color app is free, as of March 2011. So what's Color's business model? How exactly is Color going to make "wheelbarrows of cash", as Nguyen says? Color plans to offer businesses a self-serve platform for running deals and ads that integrate with the photos being taken around you, and you also see the special of the day, or a "promoted" item--the possibilities are endless. "Color experience." L.E. you can fire up the app to see Example Restaurant Jim, restaurant patron Color user Sarah, receptionist using Color's self-service system Through Jim's use of the Color app, Color learns his name, his profile pic, his general interests, etc. Jim visits his favorite restaurant. During a prior visit, he took a photo of a dish he really liked. Through previous interactions with this restaurant, Color learns when Jim visits, what he likes, etc. Through previously harvested information by Color, when Jim walks into the restaurant, Sarah can welcome him by his first cause the Color name, be self-service iPad application notifies her that a Color user has walked into the restaurant. She sees the photo of the dish he really likes as well as other photos he has shared on Color. So she is able to offer him a more personalized experience while he is at the restaurant. Color plans on charging the restaurant Sarah works at for this capability. DESIGNED BY IN PARTNERSHIP WITH AKISSmetrics @semilshah Sources: businessinsider.com twitter.com crunchbase.com techcrunch.com blogs.wsj.com telegraph.co.uk introducing Color.com {the 41 million dollar idea} What is it? "Color" (color.com) is a social app for your smartphone that simultaneously captures every phone sensor it can access (GPS, audio, video, text). With this information, Color can give you a way to see everything that's going on around you, and everything that's going on around the people you care about. In March of 2011, Color closed a $41 million round of Series A funding before its product was even available in an app store. The Color Team Bill Nguyen DJ Patil Peter Pham cO-FOUNDER & CEO CHIEF OF PRODUCT cO-FOUNDER former Head of Data Products, Chief Scientist, and Chief Security Officer at Linked in co-founder of Lala, founder of Onebox former CEO of Billshrink.com, VP of Business Development at Photobucket.com The color team currently has 27 employees "We're trying to create a new social network really around the post-PC world." Bill Nguyen The Funding Breakdown As of March 2011, Color has closed on $41 million in total funds - 17% $7 million in venture debt from Silicon Valley Bank - 60% - 22% $9 million from Bain Capital $25 million from Sequoia Capital Sequoia's investment in Color represents about 2% of their entire portfolio Total Sequoia Investments - $1.5 billion "We raised a lot of capital and we have a long way to go." Bill Nguyen The $350,000 domain name Color bought "color.com" from its previous owner for $350,000. Color also bought "colour.com," which means they probably spent close to $500,000 for the pair. business world. Heavy spending on domain names is not uncommon in ti spending $350k for color.com was a relatively small investment compared to what other domain names have been bought for. fact, Relative sizes of famous domain name purchases > Color.com, $350,000 (2010) Toys.com, $5,100,000 (2009) Business.com, $7500,000 (1999) "We're a data mining company." Bill Nguyen The Buzz Color has attracted a huge amount of attention-partially due to the $41 million funding announcement. Questions arose regarding the judgement of Sequoia Capital-Color's largest single investor. Was it a frivolous investment? Was it a genius move? Only time will tell. The internet, of course, was ripe with opinion . The Nay-sayers The Yea-sayers Pretty excited about the launch of r today. It's brilliant. @peterpham eom Also, in my experience, getting trashed hardcore only makes you better. Caveat: You have to be sort of good to begin with. @joshelman @alexia it really cracks me up when investors in tech startups trash other competing startups. get real people. grow up. I'm not even in silicon valley and i'm sick of hearing about color. @stevecheney @sarahcuda If Color (received] $2om [instead of] S4om this wouldn't be an issue. folks should look at the actual "product.. @jason "We're going to build a intelligent system that allows businesses to participate with their customers." Bill Nguyen The Business Model The Color app is free, as of March 2011. So what's Color's business model? How exactly is Color going to make "wheelbarrows of cash", as Nguyen says? Color plans to offer businesses a self-serve platform for running deals and ads that integrate with the photos being taken around you, and you also see the special of the day, or a "promoted" item--the possibilities are endless. "Color experience." I.E. you can fire up the app to see Example Restaurant Jim, restaurant patron Sarah, receptionist using Color's self-service system Color user Through Jim's use of the Color app, Color learns his name, his profile pic, his general interests, etc. Jim visits his favorite restaurant. During a prior visit, he took a photo of a dish he really liked. Through previous interactions with this restaurant, Color learns when Jim visits, what he likes, etc. Through previously harvested information by Color, when Jim walks into the restaurant, Sarah can welcome him by his first name, because the Color self-service iPad application notifies her that a Color user has walked into the restaurant. She sees the photo of the dish he really likes as well as other photos he has shared on Color. So she is able to offer him a more personalized experience while he is at the restaurant. Color plans on charging the restaurant Sarah works at for this capability. DESIGNED BY IN PARTNERSHIP WITH OKISSmetrics @semilshah Sources: businessinsider.com twitter.com crunchbase.com techcrunch.com blogs.wsj.com telegraph.co.uk introducing Color.com {the 41 million dollar idea} What is it? "Color" (color.com) is a social app for your smartphone that simultaneously captures every phone sensor it can access (GPS, audio, video, text). With this information, Color can give you a way to see everything that's going on around you, and everything that's going on around the people you care about. In March of 2011, Color closed a $41 million round of Series A funding before its product was even available in an app store. The Color Team Bill Nguyen DJ Patil Peter Pham cO-FOUNDER & CEO CHIEF OF PRODUCT cO-FOUNDER former Head of Data Products, Chief Scientist, and Chief Security Officer at Linked in co-founder of Lala, founder of Onebox former CEO of Billshrink.com, VP of Business Development at Photobucket.com The color team currently has 27 employees "We're trying to create a new social network really around the post-PC world." Bill Nguyen The Funding Breakdown As of March 2011, Color has closed on $41 million in total funds - 17% $7 million in venture debt from Silicon Valley Bank - 60% - 22% $9 million from Bain Capital $25 million from Sequoia Capital Sequoia's investment in Color represents about 2% of their entire portfolio Total Sequoia Investments - $1.5 billion "We raised a lot of capital and we have a long way to go." Bill Nguyen The $350,000 domain name Color bought "color.com" from its previous owner for $350,000. Color also bought "colour.com," which means they probably spent close to $500,000 for the pair. business world. Heavy spending on domain names is not uncommon in ti spending $350k for color.com was a relatively small investment compared to what other domain names have been bought for. fact, Relative sizes of famous domain name purchases > Color.com, $350,000 (2010) Toys.com, $5,100,000 (2009) Business.com, $7500,000 (1999) "We're a data mining company." Bill Nguyen The Buzz Color has attracted a huge amount of attention-partially due to the $41 million funding announcement. Questions arose regarding the judgement of Sequoia Capital-Color's largest single investor. Was it a frivolous investment? Was it a genius move? Only time will tell. The internet, of course, was ripe with opinion . The Nay-sayers The Yea-sayers Pretty excited about the launch of r today. It's brilliant. @peterpham eom Also, in my experience, getting trashed hardcore only makes you better. Caveat: You have to be sort of good to begin with. @joshelman @alexia it really cracks me up when investors in tech startups trash other competing startups. get real people. grow up. I'm not even in silicon valley and i'm sick of hearing about color. @stevecheney @sarahcuda If Color (received] $2om [instead of] S4om this wouldn't be an issue. folks should look at the actual "product.. @jason "We're going to build a intelligent system that allows businesses to participate with their customers." Bill Nguyen The Business Model The Color app is free, as of March 2011. So what's Color's business model? How exactly is Color going to make "wheelbarrows of cash", as Nguyen says? Color plans to offer businesses a self-serve platform for running deals and ads that integrate with the photos being taken around you, and you also see the special of the day, or a "promoted" item--the possibilities are endless. "Color experience." I.E. you can fire up the app to see Example Restaurant Jim, restaurant patron Sarah, receptionist using Color's self-service system Color user Through Jim's use of the Color app, Color learns his name, his profile pic, his general interests, etc. Jim visits his favorite restaurant. During a prior visit, he took a photo of a dish he really liked. Through previous interactions with this restaurant, Color learns when Jim visits, what he likes, etc. Through previously harvested information by Color, when Jim walks into the restaurant, Sarah can welcome him by his first name, because the Color self-service iPad application notifies her that a Color user has walked into the restaurant. She sees the photo of the dish he really likes as well as other photos he has shared on Color. So she is able to offer him a more personalized experience while he is at the restaurant. Color plans on charging the restaurant Sarah works at for this capability. DESIGNED BY IN PARTNERSHIP WITH OKISSmetrics @semilshah Sources: businessinsider.com twitter.com crunchbase.com techcrunch.com blogs.wsj.com telegraph.co.uk introducing Color.com {the 41 million dollar idea} What is it? "Color" (color.com) is a social app for your smartphone that simultaneously captures every phone sensor it can access (GPS, audio, video, text). With this information, Color can give you a way to see everything that's going on around you, and everything that's going on around the people you care about. In March of 2011, Color closed a $41 million round of Series A funding before its product was even available in an app store. The Color Team Bill Nguyen DJ Patil Peter Pham cO-FOUNDER & CEO CHIEF OF PRODUCT cO-FOUNDER former Head of Data Products, Chief Scientist, and Chief Security Officer at Linked in co-founder of Lala, founder of Onebox former CEO of Billshrink.com, VP of Business Development at Photobucket.com The color team currently has 27 employees "We're trying to create a new social network really around the post-PC world." Bill Nguyen The Funding Breakdown As of March 2011, Color has closed on $41 million in total funds - 17% $7 million in venture debt from Silicon Valley Bank - 60% - 22% $9 million from Bain Capital $25 million from Sequoia Capital Sequoia's investment in Color represents about 2% of their entire portfolio Total Sequoia Investments - $1.5 billion "We raised a lot of capital and we have a long way to go." Bill Nguyen The $350,000 domain name Color bought "color.com" from its previous owner for $350,000. Color also bought "colour.com," which means they probably spent close to $500,000 for the pair. business world. Heavy spending on domain names is not uncommon in ti spending $350k for color.com was a relatively small investment compared to what other domain names have been bought for. fact, Relative sizes of famous domain name purchases > Color.com, $350,000 (2010) Toys.com, $5,100,000 (2009) Business.com, $7500,000 (1999) "We're a data mining company." Bill Nguyen The Buzz Color has attracted a huge amount of attention-partially due to the $41 million funding announcement. Questions arose regarding the judgement of Sequoia Capital-Color's largest single investor. Was it a frivolous investment? Was it a genius move? Only time will tell. The internet, of course, was ripe with opinion . The Nay-sayers The Yea-sayers Pretty excited about the launch of r today. It's brilliant. @peterpham eom Also, in my experience, getting trashed hardcore only makes you better. Caveat: You have to be sort of good to begin with. @joshelman @alexia it really cracks me up when investors in tech startups trash other competing startups. get real people. grow up. I'm not even in silicon valley and i'm sick of hearing about color. @stevecheney @sarahcuda If Color (received] $2om [instead of] S4om this wouldn't be an issue. folks should look at the actual "product.. @jason "We're going to build a intelligent system that allows businesses to participate with their customers." Bill Nguyen The Business Model The Color app is free, as of March 2011. So what's Color's business model? How exactly is Color going to make "wheelbarrows of cash", as Nguyen says? Color plans to offer businesses a self-serve platform for running deals and ads that integrate with the photos being taken around you, and you also see the special of the day, or a "promoted" item--the possibilities are endless. "Color experience." I.E. you can fire up the app to see Example Restaurant Jim, restaurant patron Sarah, receptionist using Color's self-service system Color user Through Jim's use of the Color app, Color learns his name, his profile pic, his general interests, etc. Jim visits his favorite restaurant. During a prior visit, he took a photo of a dish he really liked. Through previous interactions with this restaurant, Color learns when Jim visits, what he likes, etc. Through previously harvested information by Color, when Jim walks into the restaurant, Sarah can welcome him by his first name, because the Color self-service iPad application notifies her that a Color user has walked into the restaurant. She sees the photo of the dish he really likes as well as other photos he has shared on Color. So she is able to offer him a more personalized experience while he is at the restaurant. Color plans on charging the restaurant Sarah works at for this capability. DESIGNED BY IN PARTNERSHIP WITH OKISSmetrics @semilshah Sources: businessinsider.com twitter.com crunchbase.com techcrunch.com blogs.wsj.com telegraph.co.uk introducing Color.com {the 41 million dollar idea} What is it? "Color" (color.com) is a social app for your smartphone that simultaneously captures every phone sensor it can access (GPS, audio, video, text). With this information, Color can give you a way to see everything that's going on around you, and everything that's going on around the people you care about. In March of 2011, Color closed a $41 million round of Series A funding before its product was even available in an app store. The Color Team Bill Nguyen DJ Patil Peter Pham cO-FOUNDER & CEO CHIEF OF PRODUCT cO-FOUNDER former Head of Data Products, Chief Scientist, and Chief Security Officer at Linked in co-founder of Lala, founder of Onebox former CEO of Billshrink.com, VP of Business Development at Photobucket.com The color team currently has 27 employees "We're trying to create a new social network really around the post-PC world." Bill Nguyen The Funding Breakdown As of March 2011, Color has closed on $41 million in total funds - 17% $7 million in venture debt from Silicon Valley Bank - 60% - 22% $9 million from Bain Capital $25 million from Sequoia Capital Sequoia's investment in Color represents about 2% of their entire portfolio Total Sequoia Investments - $1.5 billion "We raised a lot of capital and we have a long way to go." Bill Nguyen The $350,000 domain name Color bought "color.com" from its previous owner for $350,000. Color also bought "colour.com," which means they probably spent close to $500,000 for the pair. business world. Heavy spending on domain names is not uncommon in ti spending $350k for color.com was a relatively small investment compared to what other domain names have been bought for. fact, Relative sizes of famous domain name purchases > Color.com, $350,000 (2010) Toys.com, $5,100,000 (2009) Business.com, $7500,000 (1999) "We're a data mining company." Bill Nguyen The Buzz Color has attracted a huge amount of attention-partially due to the $41 million funding announcement. Questions arose regarding the judgement of Sequoia Capital-Color's largest single investor. Was it a frivolous investment? Was it a genius move? Only time will tell. The internet, of course, was ripe with opinion . The Nay-sayers The Yea-sayers Pretty excited about the launch of r today. It's brilliant. @peterpham eom Also, in my experience, getting trashed hardcore only makes you better. Caveat: You have to be sort of good to begin with. @joshelman @alexia it really cracks me up when investors in tech startups trash other competing startups. get real people. grow up. I'm not even in silicon valley and i'm sick of hearing about color. @stevecheney @sarahcuda If Color (received] $2om [instead of] S4om this wouldn't be an issue. folks should look at the actual "product.. @jason "We're going to build a intelligent system that allows businesses to participate with their customers." Bill Nguyen The Business Model The Color app is free, as of March 2011. So what's Color's business model? How exactly is Color going to make "wheelbarrows of cash", as Nguyen says? Color plans to offer businesses a self-serve platform for running deals and ads that integrate with the photos being taken around you, and you also see the special of the day, or a "promoted" item--the possibilities are endless. "Color experience." I.E. you can fire up the app to see Example Restaurant Jim, restaurant patron Sarah, receptionist using Color's self-service system Color user Through Jim's use of the Color app, Color learns his name, his profile pic, his general interests, etc. Jim visits his favorite restaurant. During a prior visit, he took a photo of a dish he really liked. Through previous interactions with this restaurant, Color learns when Jim visits, what he likes, etc. Through previously harvested information by Color, when Jim walks into the restaurant, Sarah can welcome him by his first name, because the Color self-service iPad application notifies her that a Color user has walked into the restaurant. She sees the photo of the dish he really likes as well as other photos he has shared on Color. So she is able to offer him a more personalized experience while he is at the restaurant. Color plans on charging the restaurant Sarah works at for this capability. DESIGNED BY IN PARTNERSHIP WITH OKISSmetrics @semilshah Sources: businessinsider.com twitter.com crunchbase.com techcrunch.com blogs.wsj.com telegraph.co.uk introducing Color.com {the 41 million dollar idea} What is it? "Color" (color.com) is a social app for your smartphone that simultaneously captures every phone sensor it can access (GPS, audio, video, text). With this information, Color can give you a way to see everything that's going on around you, and everything that's going on around the people you care about. In March of 2011, Color closed a $41 million round of Series A funding before its product was even available in an app store. The Color Team Bill Nguyen DJ Patil Peter Pham cO-FOUNDER & CEO CHIEF OF PRODUCT cO-FOUNDER former Head of Data Products, Chief Scientist, and Chief Security Officer at Linked in co-founder of Lala, founder of Onebox former CEO of Billshrink.com, VP of Business Development at Photobucket.com The color team currently has 27 employees "We're trying to create a new social network really around the post-PC world." Bill Nguyen The Funding Breakdown As of March 2011, Color has closed on $41 million in total funds - 17% $7 million in venture debt from Silicon Valley Bank - 60% - 22% $9 million from Bain Capital $25 million from Sequoia Capital Sequoia's investment in Color represents about 2% of their entire portfolio Total Sequoia Investments - $1.5 billion "We raised a lot of capital and we have a long way to go." Bill Nguyen The $350,000 domain name Color bought "color.com" from its previous owner for $350,000. Color also bought "colour.com," which means they probably spent close to $500,000 for the pair. business world. Heavy spending on domain names is not uncommon in ti spending $350k for color.com was a relatively small investment compared to what other domain names have been bought for. fact, Relative sizes of famous domain name purchases > Color.com, $350,000 (2010) Toys.com, $5,100,000 (2009) Business.com, $7500,000 (1999) "We're a data mining company." Bill Nguyen The Buzz Color has attracted a huge amount of attention-partially due to the $41 million funding announcement. Questions arose regarding the judgement of Sequoia Capital-Color's largest single investor. Was it a frivolous investment? Was it a genius move? Only time will tell. The internet, of course, was ripe with opinion . The Nay-sayers The Yea-sayers Pretty excited about the launch of r today. It's brilliant. @peterpham eom Also, in my experience, getting trashed hardcore only makes you better. Caveat: You have to be sort of good to begin with. @joshelman @alexia it really cracks me up when investors in tech startups trash other competing startups. get real people. grow up. I'm not even in silicon valley and i'm sick of hearing about color. @stevecheney @sarahcuda If Color (received] $2om [instead of] S4om this wouldn't be an issue. folks should look at the actual "product.. @jason "We're going to build a intelligent system that allows businesses to participate with their customers." Bill Nguyen The Business Model The Color app is free, as of March 2011. So what's Color's business model? How exactly is Color going to make "wheelbarrows of cash", as Nguyen says? Color plans to offer businesses a self-serve platform for running deals and ads that integrate with the photos being taken around you, and you also see the special of the day, or a "promoted" item--the possibilities are endless. "Color experience." I.E. you can fire up the app to see Example Restaurant Jim, restaurant patron Sarah, receptionist using Color's self-service system Color user Through Jim's use of the Color app, Color learns his name, his profile pic, his general interests, etc. Jim visits his favorite restaurant. During a prior visit, he took a photo of a dish he really liked. Through previous interactions with this restaurant, Color learns when Jim visits, what he likes, etc. Through previously harvested information by Color, when Jim walks into the restaurant, Sarah can welcome him by his first name, because the Color self-service iPad application notifies her that a Color user has walked into the restaurant. She sees the photo of the dish he really likes as well as other photos he has shared on Color. So she is able to offer him a more personalized experience while he is at the restaurant. Color plans on charging the restaurant Sarah works at for this capability. DESIGNED BY IN PARTNERSHIP WITH OKISSmetrics @semilshah Sources: businessinsider.com twitter.com crunchbase.com techcrunch.com blogs.wsj.com telegraph.co.uk introducing Color.com {the 41 million dollar idea} What is it? "Color" (color.com) is a social app for your smartphone that simultaneously captures every phone sensor it can access (GPS, audio, video, text). With this information, Color can give you a way to see everything that's going on around you, and everything that's going on around the people you care about. In March of 2011, Color closed a $41 million round of Series A funding before its product was even available in an app store. The Color Team Bill Nguyen DJ Patil Peter Pham cO-FOUNDER & CEO CHIEF OF PRODUCT cO-FOUNDER former Head of Data Products, Chief Scientist, and Chief Security Officer at Linked in co-founder of Lala, founder of Onebox former CEO of Billshrink.com, VP of Business Development at Photobucket.com The color team currently has 27 employees "We're trying to create a new social network really around the post-PC world." Bill Nguyen The Funding Breakdown As of March 2011, Color has closed on $41 million in total funds - 17% $7 million in venture debt from Silicon Valley Bank - 60% - 22% $9 million from Bain Capital $25 million from Sequoia Capital Sequoia's investment in Color represents about 2% of their entire portfolio Total Sequoia Investments - $1.5 billion "We raised a lot of capital and we have a long way to go." Bill Nguyen The $350,000 domain name Color bought "color.com" from its previous owner for $350,000. Color also bought "colour.com," which means they probably spent close to $500,000 for the pair. business world. Heavy spending on domain names is not uncommon in ti spending $350k for color.com was a relatively small investment compared to what other domain names have been bought for. fact, Relative sizes of famous domain name purchases > Color.com, $350,000 (2010) Toys.com, $5,100,000 (2009) Business.com, $7500,000 (1999) "We're a data mining company." Bill Nguyen The Buzz Color has attracted a huge amount of attention-partially due to the $41 million funding announcement. Questions arose regarding the judgement of Sequoia Capital-Color's largest single investor. Was it a frivolous investment? Was it a genius move? Only time will tell. The internet, of course, was ripe with opinion . The Nay-sayers The Yea-sayers Pretty excited about the launch of r today. It's brilliant. @peterpham eom Also, in my experience, getting trashed hardcore only makes you better. Caveat: You have to be sort of good to begin with. @joshelman @alexia it really cracks me up when investors in tech startups trash other competing startups. get real people. grow up. I'm not even in silicon valley and i'm sick of hearing about color. @stevecheney @sarahcuda If Color (received] $2om [instead of] S4om this wouldn't be an issue. folks should look at the actual "product.. @jason "We're going to build a intelligent system that allows businesses to participate with their customers." Bill Nguyen The Business Model The Color app is free, as of March 2011. So what's Color's business model? How exactly is Color going to make "wheelbarrows of cash", as Nguyen says? Color plans to offer businesses a self-serve platform for running deals and ads that integrate with the photos being taken around you, and you also see the special of the day, or a "promoted" item--the possibilities are endless. "Color experience." I.E. you can fire up the app to see Example Restaurant Jim, restaurant patron Sarah, receptionist using Color's self-service system Color user Through Jim's use of the Color app, Color learns his name, his profile pic, his general interests, etc. Jim visits his favorite restaurant. During a prior visit, he took a photo of a dish he really liked. Through previous interactions with this restaurant, Color learns when Jim visits, what he likes, etc. Through previously harvested information by Color, when Jim walks into the restaurant, Sarah can welcome him by his first name, because the Color self-service iPad application notifies her that a Color user has walked into the restaurant. She sees the photo of the dish he really likes as well as other photos he has shared on Color. So she is able to offer him a more personalized experience while he is at the restaurant. Color plans on charging the restaurant Sarah works at for this capability. DESIGNED BY IN PARTNERSHIP WITH OKISSmetrics @semilshah Sources: businessinsider.com twitter.com crunchbase.com techcrunch.com blogs.wsj.com telegraph.co.uk

Introducing Color.com: The 41 Million Dollar Idea

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Color made quite a splash in the Spring of 2011 when it announced that it had secured a staggering $41 million in funding before they had even released a working product. That's a lot of money for an...

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