Micro-locator NearBuy Systems Finds $1Mil In Funding
Nearbuy Systems Raises $1Mil
So there’s a market out there called the micro-location sector… who knew? NearBuy Systems is just one of the start-ups chasing after the mobile Internet gold rush, and I would only imagine there’s just a handful of companies hot on this specific trail… but it’s early yet.
This sounds like the kind of mobile device marketing play that every VC will have to seriously contemplate adding to it’s portfolio. They better make a decision fast, because the gates are open.
As an investment goes, I can’t say that I could argue with it. Personally I’d rather have 4 wisdom teeth pulled out and Justin Bieber blaring simultaneously rather than encounter a store with this technology running rampant in it [nothing personal Beebs]. But that doesn’t mean I wouldn’t invest in it.
As many people as there are like me, that are completely unimpressed with location type social networks, there’s certainly one if not several shopaholics who will eat this up. Maybe there’s more people like me, that purposefully sought out the Places setting in Facebook in order to kill the switch, and therefore maybe this idea isn’t going anywhere. But I wouldn’t count on that.
Certainly it’s a worthwhile $1 million gamble to Motorola Solutions Venture Capital and a number of smaller VCs who plunked down that number. The deal was announced just hours ago.
To me this sector combines 2 of the things I most want to be left alone from- Internet companies trying to track my every move, my every purchase, my every burp (I’m keeping it clean), my every debit swipe… and at the same time those that want to throw a pop-up banner ad in my face at every possible turn.
As if pop-ups aren’t bad enough on your PC, the mobile marketing sphere is only just revving up to that level of rage inducing nuisance. The only saving grace is that it is likely [at least initially, hopefully for all time] that a shopper would have to opt-in in order to be marketed to inside a store about the products on its shelves. Is that too optimistic?
But given that coupons and savings are hot right now, and that this is a way to invest in an idea that sort of runs parallel to the daily deals market that is en fuego at the moment… like I said above I wouldn’t bet against this sector. If Nearby Systems can come to dominate the space, they are going to be a monster breakout story.
