Wave is an app that allows its 4 million users to locate their contacts in real time on a private map. Potential uses include meeting friends at festivals, travellers in a new city or outdoor group sports. User numbers are currently growing at 200,000 per week and data sales are driving revenue.
- A Spanish company based in Madrid with users in over 100 countries
- Aims to surpass the 50 million-user-barrier by the end of 2017
- 80% of daily use comes from recurrent users
- Investment will be used to implement additional monetisation streams
Wave is an app with almost 4 million users worldwide which allows anyone to see in real-time the exact location of their contacts in a PRIVATE map for a limited period of time. We make it easy and fun for friends and family to meet in real time. We are changing the way people find each other, by offering a fast, simple and safe location service.
We see countless situations where Wave is a useful tool – a group of friends meeting to grab a beer, a father and his daughter who is going out at night, a skiing trip, a music festival, a business meeting, a group of students traveling to an unknown city – basically anytime when 2 or more people need to meet.
Our focus on user acquisition has lead us to a current growth rate of over 200,000 users a week, and 80% of our daily use comes from recurrent users who are returning to the app. We’ve acquired users and they’re sticking with us.
Our CAC (cost of acquisition) has reduced from €1.13 to €0.12, and we have active users in more than 100 countries all over the world – Wave is targeting a massive market of more than 2 billion smartphones.
We estimate our organic growth rate to be 2-3x (each new user will in turn successfully invite 2-3 more new users onto the Wave platform). This activity is translating into natural organic growth in top-tier countries (such as USA, UK, Germany, Australia and China), with zero investment.