Investor injects $1.3 million into Tagwhat
Last Updated: 14:42 January 10, 2014
Boulder-based Tagwhat makes a mobile app that can tell you more about your physical location, using web-based content. The application uses GPS capabilities of the mobile device to determine where you are.
One investor paid $1,345,389 on Dec. 23 for equity in the company, according to the federal regulatory document filed with the U.S. Securities and Exchange Commission. Neither co-founder Dave Elchoness, nor co-founder Angus Shee could be reached for comment.
Shee is listed as president, chief executive officer and secretary of the company on the regulatory filing document. Karen Shee is listed as a director. Elchoness is not listed on the document.
Tagwhat is able to retrieve text, video and pictures from the Internet to give users a picture of the history and background of any location, the company said in 2012. Using Tagwhat in Boulder, for example, will bring up articles about nearby landmarks, a University of Colorado-Boulder campus tour and links to local restaurants.
Users also can request information they're interested in, such as historic landmarks or restaurants. The Tagwhat application brings up the information as they approach a relevant site.
Tagwhat relied on initial investment from the founders and their friends and families. In 2012, the company said it was generating revenue from publishers such as tourism bureaus, colleges and heritage societies, which use the service to create branded channels. For example, the Colorado Department of Transportation created a tour guide of scenic byways. Users load the Tagwhat app, go to the CDOT channel, and the app retrieves information about nearby landmarks.
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