By: Alon Cohen
Date: Nov 17, 2007
Date: Nov 17, 2007
Ever since VocalTec (VOCL) came out with its free calls internet Phone in February 1995, named iPhone, everyone involved with the Internet and VoIP asked the same question: how can we monetize the Internet if it is all free?
The concept of a platform for delivering services came to me back then, but was hard to implement for many reasons: lack of Broadband connectivity, low VoIP Audio quality in those early days, lack of payment systems, and lack of e-commerce consumer behavior.
I assumed that would grow, and I started building a business case for what is now BitWine Inc., or, as I named the space back then, Multimedia E-Commerce (MME).
The first thing I did was map the e-commerce landscape, trying to predict market direction in the hope of getting there first.
In my quest, I met Charlie Federman, who introduced me to my brilliant partner, Elad Baron, and together we set sail to build BitWine. We recruited a group of excellent Angel investors and an extremely talented group of developers, who worked hard to bring BitWine http://www.BitWine.com to life.
I recently looked back at my MME e-commerce map to see how far off I was in 2003-2004. I think I was on the money, but I will let you be the judge of that.
I did not predict Amazon grid computing and storage services per se, but they certainly have a place on the map.
The diagram shows that e-commerce applications spread from tangible goods to non-tangible goods, and from Auction to Buy Now and to pay-as-you-go.
If the trend continues, it seems the market will experience growth in the next few years, creating an open window of opportunity for companies such as BitWine and fast investors who can ignore trendy investments and focus on growth potential and tangible business models.
After all, 50% of US GDP or about $7T is derived from services, so there is plenty of room for the space to grow.
The concept of a platform for delivering services came to me back then, but was hard to implement for many reasons: lack of Broadband connectivity, low VoIP Audio quality in those early days, lack of payment systems, and lack of e-commerce consumer behavior.
I assumed that would grow, and I started building a business case for what is now BitWine Inc., or, as I named the space back then, Multimedia E-Commerce (MME).
The first thing I did was map the e-commerce landscape, trying to predict market direction in the hope of getting there first.
In my quest, I met Charlie Federman, who introduced me to my brilliant partner, Elad Baron, and together we set sail to build BitWine. We recruited a group of excellent Angel investors and an extremely talented group of developers, who worked hard to bring BitWine http://www.BitWine.com to life.
I recently looked back at my MME e-commerce map to see how far off I was in 2003-2004. I think I was on the money, but I will let you be the judge of that.
I did not predict Amazon grid computing and storage services per se, but they certainly have a place on the map.
The diagram shows that e-commerce applications spread from tangible goods to non-tangible goods, and from Auction to Buy Now and to pay-as-you-go.
If the trend continues, it seems the market will experience growth in the next few years, creating an open window of opportunity for companies such as BitWine and fast investors who can ignore trendy investments and focus on growth potential and tangible business models.
After all, 50% of US GDP or about $7T is derived from services, so there is plenty of room for the space to grow.
