GlobeChat

Instant-Translation Messaging Service

Company Information

Website:

http://info.GlobeChat.com

Sector:

Telecom Services, Internet Software & Services

Location:

Capistrano, California

GlobeChat is an "instant-translation" messaging service that allows people to communicate with others anywhere in the world, regardless of language.

It's a free App on Android, Apple and Windows mobile devices, as well as desktops, laptops and tablets.

GlobeChat combines elements of WhatsApp and Skype with instantaneous language translation, and it works via video, voice, or text.

This allows for seamless interaction: each person receives messages in their native language, regardless of the language of the sender.

By removing language barriers, GlobeChat aims to be the basis of a world connected by similarities in age, career, politics, music, sports, and all manner of hobbies and interests.

The company has won start-up competitions, has 22,000 users, and has a patent pending.

On the plus side, the company is playing into a major trend—the trend of social media usage moving to messaging platforms.

As Fred Wilson, a leading venture capitalist who's invested in Twitter, Tumblr and Foursquare, said: “The social media phase of the Internet ended…Entrepreneurs and developers still build social applications. We still use them. But there isn’t much innovation here anymore…messaging is the new social media…families use WhatsApp groups instead of Facebook. Kids use Snapchat instead of Instagram. Facebook’s acquisition of WhatsApp was the transaction that defined this trend.”

And as Mark Schaefer from Harvard Business Review said: “The movement of consumers from public social media to private messaging has been so rapid that Business Insider reported that the combined usage of the top four messaging apps now exceeds the combined usage of the top four social media apps…”

So the company is clearly going after a huge opportunity.

But on the con side, the company hasn't yet proven out its revenue model. And based on its progress to date, its $25 million valuation is very steep.

Team Background

Kevin Strom - Founder & CEO

Kevin is the former Founder and Managing Partner of RedSky Media.

Prior to that, he was Sales Director at AT&T for 15 years.

He earned his degree from Northern Illinois University.

Co-Investors

KiwiVenture Partners

Early stage capital firm that invests in tech startups. Its portfolio includes Amper Music and Sensery.

Raising
$100K
Committed
$1,250 (1%)
Current Valuation
$25 million Cap / % Discount
Min. Investment
$100
Deal Type
Title III
(For all investors)
Offering Type
SAFE
Finance History
  • $172.296K
    2015-04-01
    Unknown Lead
  • $839.339K
    2016-04-01
    Unknown Lead
Notable Investors
  • KiwiVenture Partners
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