Andy Meadows of Live Oak 360 Talks about his New Technology called Budurl
What does Live Oak 360 do?
We offer software development, web services, and web hosting. We have hundreds of hosting clients and continue to see good growth. Hosting is about 25% of our business and development is about 75%.
What kind of applications are you seeing?
We see ecommerce, content management, and social network development mostly. We work with startups to big companies. With seven years under our belt, we’ve worked in a lot of different areas.
I understand you have a new technology you’re bringing to the market. What is it?
It’s called Budurl. It’s like TinyUrl but it provides real-time web analytics such as how many people click on the link, how often they go back to it, etc. Tinyurl takes a long link and shrinks it down to a small link. With BudURL, you could put it on your Twitter feed and as it propagates through the web you can follow it. Our metrics can tell where the users came from and which links are generating real interest and value.
What are some applications you’ve seen for it so far?
You could put it on your Facebook or LinkedIn page and then measure where people came from to your page and where did they go afterwards. You could put it on press releases and then see who picks it up. People are using it in social media, email, direct mail, sales materials, and in client prospecting.
How do you monetize it?
Users can sign up and use it for free. There’s paid plans of course that give you greater granularity of web metrics. It can be white labeled so companies can buy it and use it throughout their enterprise with their own domain name.
How many people are using it?
There are over 4000 users so far. It launched in August and we just started charging about a month ago. The success of the paid subscriptions has been a great surprise.
How much are you trying to raise?
Around $300K to $500K to expand new development, sales, and marketing for BudURL.
We just started a new angel group called the Baylor Angel Network. Are you connected to Baylor in some way?
I was a 1996 graduate from the Hankammer School of Business at Baylor.
They’re seeking to fund deals that are in the $200K to $2M range. If you’re seeking over $500K then you need to come with a lead investor and a terms sheet.