A Philippine investment in Texas-based radio search engine Radiotime, currently world’s leader in Internet-based radio search, is tapping Filipino software developers for its web application expansion.
Radiotime.com, an investee company of Philippine-based venture capital ICCP Ventures, is taking advantage of its partnership with ICCP through its outsourcing of software needs to Filipinos.
“We’ve built a lot of software. We’ve done some of these works in the Philippines, and we’re looking forward to do more software here,” said Radiotime Chief Executive Officer Bill Moore in an interview at an Ayala Foundation Innovation Forum.
An entirely entrepreneurial effort eight years ago, Radiotime has become 20 times much larger than its next competitor in the radio search engine business. Among its competitors are BBC and CBS radio. Its revenue comes from the sale of devices, software or hardware as part of the radio listenership service, and from advertising. It enables search of around 60,000 radio stations globally including those in the Philippines. Its market is mainly from North America, and then South America, followed by Asia.
ICCP which has investments in 40 companies put in $1 million into Radio Time for a 30 percent interest some four years ago, according to ICCP Group President William M. Valtos Jr.
“We saw very little technology risk in it. OEM (original equipment manufacturers) clients signified that Radiotime was ahead of its competition. Radiotime is in the best position to be the leader in radio media space,” said Valtos.
Radiotime has actually started acquisition talks with some big radio online businesses such as the US’ CBS. It has signed a contract with Nokia so that Nokia mobile phone users can listen to any radio station they like through Radiotime.
One does not have to be a subscriber to avail of Radiotime’s accelerated search service, but a regular listening service would require one to pay $50 per device. This device may be a software that an iPhone user can download or a physical device that one can plug in if he is using for instance a tabletop radio.
The company is growing at 10 percent per month, and its sales come from licensing agreements with certain companies. On the device, Radiotime has partnerships with companies like Philips or electronic parts manufacturers.
The site enables listeners to connect to radio through devices like TV, mobile phones, portable media players, PC and web-based applications. In order to ensure accurate station listings, it has partnerships with Sonos, Logitech Squeezebox, Cisco Home Audio, and Windows Media Center
ICCP has been able to invest in Radiotime as one of its board of directors has links with companies in Silicon Valley. It also has investments in Silicon Valley-based Marvell Technology which develops and markets integrated circuits, in Level Up!, Ionics Inc., Shopwise, and SiRT Technology which is led by its advisor, Dado Banatao, who is a co-founder of technology startups like S3 and Chips and Technologies.
Source:http://www.mb.com.ph/articles/240529/texas-radio-search-engine-radiotime-outsource-software-development-rp
