Locbit is working to deliver relevant local information to people in real time. Based in San Diego, this startup is gaining momentum with businesses by maintaining a model that is easy to demonstrate and simple to use – bringing together technologies that other companies have had difficulty executing simultaneously.
Locbit uses a network of displays – like televisions at coffee shops, office buildings, or retail spaces – to disseminate announcements, advertisements, and other relevant pieces of information based on an algorithm that takes into account contextual factors such as location. The Locbit network is currently seen most commonly in doctors’ offices, although perhaps its most visible screen is a giant billboard at the San Ysidro Port of Entry – the busiest border crossing in the world.
Inspired by ideas surrounding the topic of relevant local information, Locbit’s three founders – Boian Spassov, Drew Lawrence, and Ernesto Sanchez – have gotten the company off the ground with sweat equity and personal funding. The company is housed in the Ansir Innovation Center on San Diego’s Convoy Street, an area best known for its Asian restaurants and car dealerships. Although the incubator is in an atypical location for technology startups, Locbit and a handful of other companies at Ansir have created high visibility among San Diego’s most active tech community members.
Locbit has most recently taken interest in helping the East Coast communities devastated by Hurricane Sandy. Upon realizing that parts of its network were affected by the hurricane, Locbit decided to use remaining available screens to help raise money for those in need. Previous data showed that non-commercial greetings – birthday announcements and congratulatory messages, for instance – received a significantly higher amount of scans; Locbit’s technology would be able to attract more than just commercial attention and could potentially raise awareness for Sandy relief efforts.
Although Locbit is aware that there will be hurdles to overcome, Spassov, Locbit’s CEO, is certain that the future is bright and promising for the startup. While the opportunities have at this point proven to be far and wide, Spassov believes that the company’s success lies in the interactions between business owners and ordinary citizens in the overall consumer market.
Check out Locbit’s explanation video below and learn more at locbit.com.