The company is focused on connecting users while keeping them and their families safe. Chatstasy is working on creating a user friendly interface that allows users to connect their calling feature and text message feature. They are also working on having the app to be standard and similar across all devices. Since there is a large market for smartphones in America, the app looks like it will be going places. In 2005, smartphones saw a 27% growth as compared to the previous year.
“The immediate needs and host of other unique features will make users care about Chatstasy”
The company is headquartered in San Diego, California, USA. Currently the company has one funding member and a small group of marketing consultants. However, giving it some time, it could become a mid-sized US corporation.
The company is looking to get 0.5% of the market in two years and grow up to 20% by year 5. 0.5% of the market is about 500,000 users. The company is sure of their growth since the current trajectory shows that global smart phone use will increase to 6 Billion by that time.
The company is spearheaded by two strong individuals. Ram Seshan, MS, MBA is the founder runs the company along with Tim Ristine, VP Marketing. The company is looking to grab a sales associate, product evangelist and finally a marketing expert in the near future. The management team at Chatstasy has among them collectively 100 years of experience. They have worked with technology and software in the past and understand the industry pretty well.
Since the company is currently self funded, they are looking for angel investors within the next twelve months. This should help them to scale better and faster.
The features they already have can even assist in saving lives and this is something that they are banking on. Along with these, they have features like clip art images for chat buttons, adding your own emergency contact numbers and connections, always available ambulance call button, that re configures based on the country that you are in, storing, saving and sending text messages in different languages.
Currently, the group is working on some new and impressive features for their app. They are looking to add the local time at destination before making a call. Instant notifications with location to loved ones when someone calls an ambulance are also in the pipeline.
There is a lot of competition in the texting space currently. Although their app does a lot more than texting, users are not looking to switch since they are happy with the app that they already have. Funding too can be quite a challenge when scaling up.