Kiwiple's Flagship Product Ovjet
Through the publicity, Ovjet received a lot of interest and by December last year the app had been downloaded 11 million times. Ovjet integrates social media and augmented reality to give the user an experience where they can not only receive information in real-time but also communicate with other people. Now available for iOS, it could be described as a mix between Foursquare, Twitter, Facebook, Instagram, and location-based dating apps.
While there are several other augmented reality apps already on the market which can be used to find the location of restaurants and bars nearby, Ovjet takes this technology a step further by incorporating many other areas that aren't usually covered. The app has a wide range of places to choose from including apartment buildings, parks, pharmacies, bus and subway stops, churches, banks and many more. Tapping the desired location brings up information on each location such as a phone number and an address which is linked to Google maps. Even news articles related to the area can be found via Ovjet.
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Though the app may not work directly on people like the advert suggests, Kiwiple definitely wants Ovjet to connect users and thus the app has been designed as a social network. Users can "follow" the page of any location, person or other object in a similar fashion to Twitter and view a feed of the latest info. Most other features of social networks such as comments, likes and creating groups have also been integrated into the platform. Another main feature is being able search for other Ovjet users in your immediate area, though this is limited to users who agree to reveal their location in return. It is possible to tag oneself into an assortment of categories such as cute, kind, athletic etc. so users can choose specifically who they want to interact with.
For the more superstitious, users can even point their device towards the sky to view the position of the stars and also follow others with the star sign of their choice. Other "bonus" features include a QR code scanner and "Gifticons", electronic gift coupons that can be sent for friends to use at local stores.
Kiwiple's Growth
Kiwiple was founded in August 2009 with a team of seven people, all who had experience in previous jobs. Although the company initially formed its own capital of 200 million, Kiwiple secured a 300 million won investment in just two months. CEO of Kiwiple Shin Euihyun explained how it felt at the time.
"I'm not sure if it was a good thing. Because we received funding so quickly and so easily, we simply thought that if you just worked hard you could receive investment."Nevertheless, Kiwiple has continued to show promise and received 1.5 trillion won of investment capital last summer and even reached its break-even point in November last year. The company is continuing to develop the app and recently released a lighter version of Ovjet which was well received. Though still aimed at the domestic market, Shin talked about Kiwiple's plans for the new year:
"This year the most important goal for us is entering the U.S and European markets. Having already reached break-even point through advertising, we now intend to focus on stabilizing growth."
You can view Kiwiple's website here and the Ovjet homepage here.
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