LocaModa raises $6.18 Million Funding
September 17, 2007 · Posted in Companies
Somerville, MA base LocaModa has raised just over $6 million in Series A funding according to recent regulatory filings. The company’s primary offering is the Wiffiti application which combines a virtual graffiti wall in the form of a flat screen television that can be interacted with by any passerby via mobile text messaging. The technology is trying to take the success of online virtual social networks and bring them in to the real world anywhere location specific ad hoc social networks are created… around bar patron and conference attendees for example. Wherever a Wiffiti screen is present, patrons can text messages in to LocaModa to have their messages posted to the screen for all to see or to vote on location specific topics. A bar patron can post messages like ‘After the bar closes, after party is at my house!” or at a sports bar patrons can post a poll, “Anyone else want to watch the Washington Vs Oregon Game instead of this blow out?”.
The Wiffiti solution solves some interesting problems, but as a business model, the technology seems pretty simple to replicate… and once you get all the big folks who typically do bar promotions signed up, like Bacardi, growing it into the local ad markets seems potentially tricky… nonetheless it will be an interesting one to watch and see how they approach it.
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