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April 17, 2006
Otodio To Raise VC To Read You Your Paper
UK startup, Otodio, will be making its pitch for a new text to speech application in the coming months, according to its recent press releases. Its business idea is that newspaper subscribers will pay extra to be able to listen to, as well as read, their favourite broadsheet.
It is not the first firm to develop text-to-speech applications, but it is the first in recent times to try to push its tech as a new standard file format, specifically made to enable consumers to listen to the contents of a newspaper while on the move.
The Otodio files will be delivered to mobilephones, digital (or satellite) radios, portable audio players, PCs or other digital devices.
We're not sure if that is a hardware or a software upgrade that would be required. If it's a hardware change, then we wish them good luck, but if it's a simple software addition, then it sounds feasible.
Otodio's web site does not reveal much about its business or early investors, but its latest statement says it may be trying to raise $3.5M in order to "help accelerate revenue generation with and alongside its first client contracts". The first commercial trials are expected in Europe by mid-2006.
Its clear target market differentiates it from several more established rivals, such as ReadSpeaker and Svox. Founded in Sweden in 1999, ReadSpeaker went to market with its product in 2001, targeting its text to speech at websites to improve accessibility for blind or sight-impaired users. It recently announced support for reading blogs too. And it is multilingual. The firm claims to be profitable and growing at a quick pace.
Another potential rival is Swiss-based SVOX, which also has a proven and a multilingual solution. In its early years, it flirted with the mobilephone market, with a couple of text-to-speech apps, although not the exacts same thing as Otodio proposes, but it quickly changed to the automotive sector where it had a better chance of generating sales and volume contracts.
Another potential rival is Swiss-based SVOX, which also has a proven and a multilingual solution. In its early years, it flirted with the mobilephone market, with a couple of text-to-speech apps, although not the exacts same thing as Otodio proposes, but it quickly changed to the automotive sector where it had a better chance of generating sales and volume contracts.
This is the second venture together for co-founders Simon Gall and Peter Bond. Their previous company is a DVD/CD repair franchise called PerfectPlay.
Maybe the time is right now for something along the lines of what Otodio is promoting, in light of the popularity of digital audio downloads and podcasting and how that is starting to change consumer behaviour and expectations.
Read - OTODIO now ready to accelerate (Tornado Insider)
Read - Founders Profile with more info on Otodio (soflow)
Posted on April 17, 2006 04:10 PM | Posted to Media | Wireless | Permalink
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