Color is the a iPhone app that allows you to share pictures with your friends. Sounds pretty innovative, doesn’t it? Bill Nguyen, who grabbed 41m USD from Silicon Valley’s most hyped investors for the project explains that we got it all wrong in a Business Insider’s article (link below). What seemed to me much more interesting, though, was the business model Nguyen chose for his project. The highlights are mine.
Business Insider: The app is free, so what’s your business model?
Bill Nguyen (founder of Color, the $41 million iPhone app): Advertising through the app. We’re going to build a intelligent system that allows businesses to participate with their customers. So when you walk into a restaurant and you use Color, and they’re also customers through a self-service Web interface — or actually a self-service iPad interface — every time you walk into the restaurant, your [first] name will show up with your picture. The maitre d’ or receptionist will know who you are, they’ll be able to welcome you, they’ll know the last time you were here, they’ll be able to see pictures if you took them here. They’ll be able to provide you better service than they’ve ever before, that’s going to drive up their revenue by increasing repeat business because we always want to go back where we feel welcome.
Now, are you sure you want to share all this data with a… waiter?
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