Friday, March 9, 2012

CybEye aims not to repeat the mistakes of its rivaling location-based services and build an integrated mobile event-based social network

Location-based services is still an emerging market; although full of promise and potential, the financial upside has been anything but close to meeting expectations.

A company that was at one time said to be seeking a valuation of $500 million sold three years later for a paltry $43.4 million. The company in question is none other than Loopt (www.loopt.com) and its demise can be attributed to the loss of its lifeblood: users.

Loopt’s daily active users — the folks opening and running the location app on any given day — were disappearing, either moving away from the app to other services like FaceBook or Foursquare, or just quitting it altogether. Loopt had as few as 500 daily active users at one point recently according to VentureBeat (www.venturebeat.com).

The source of this once hyped-up up-and-comer's demise is its lack of fundamentals as an app. Loopt boasts pretty user interface including a cool map pinned with your friend's check-ins. This appeals to the general public that likes its easy-of-use and no-manual-needed simplicity. As time passes, however, the app's appeal wears thin and feels more like an over-used feature; the user no longer has anything else practical to explore.

Even FourSquare, the apparent leader in the location-based app market, struggles to re-define itself as more than just a "check-in" service. There’s also trouble at the top. Co-founder Naveen Selvandurai announced this past week that he was leaving the company because he "has done all he could."

The lesson here is that to stay ahead of the game in this ultra-competitive mobile app market and to hold on to customers' ever shortening attention span and loyalty, one must build an integrated service that provides multiple channels to share, discover, search, and socialize. CybEye is more than a check-in service; CybEye provides an integrated platform where users can share locations through mobile as well as web, conduct interactive content-sharing where users can post comments, forward photos amongst each other, as well as acting as an advertising platform for businesses to promote and engage their targeted audience intelligently.

CybEye's approach will prove its worth over the long run while its competitors get the short-lived spotlight.

For more information on CybEye, visit our website at http://www.cybeye.com

Details of the CybEye for iPhone App are also available at http://itunes.apple.com/us/app/cybeye-for-iphone/id485586156?mt=8


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