Wireless - Friday, August 26, 2005
Rave Wireless - Profile
HQ: New York, NY & Cambridge, MA
Founded: November 2004
Management: Rodger Desai is President, CEO, & Co-Founder. He was previously CEO of wireless company Vettro that had raised a $10M round in 2000 but then sputtered. Chairman is Shikhar Ghosh who was Chairman and Founder of eCommerce software pioneer Open Market - which went public but is now a distant memory.
Investors: In August 2005, Rave raised $5M from Bain Capital Ventures and Sigma Partners.
Business Model: Rave Wireless will provide location-based information with mobile phones targeting the college crowd. Via a wireless phone equipped with GPS, Rave will allow users to view the current status of friends, and know exactly where they are. It appears that Rave will sell this service to carriers, which presumably will upsell this as an extra feature.
Competitors: These guys aren’t showing much hand, but it appears that their functionality at least might compete with Amp’d Mobile – at least in its courting of the youth market with wireless goodies and WaveMarket and Dodgeball for its wireless buddy finder functionality as well as Mamjam.
Dirt: Given that the company has only provided two sentences on its product, it is tough to comment, however, there is no denying that there is bound to be a lot of innovative ideas coming out of location-based wireless services and that the youth market will probably be the early adopters. Let’s see what you’ve got Rave.
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