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When we think of social networks, most of us will envision text, hashtags, pictures, videos…
However most of the communication we do in our ‘real’ lives is verbal. And so, it is not surprising that a voice social network is gaining traction.
Israeli tech startup HearMeOut, which calls itself the leading social network for voice, has filed paperwork for an AUD $5.5 million fundraising on the Australian Stock Exchange ASX. However Australian sources are saying that strong demand for the HearMeOut IPO might push that figure up to $6.5 million, and a $13 million valuation for the company.
HearMeOut’s big break came about a year ago when it inked a deal with carmaker Ford Motor Company (NYSE:F), to integrate the HearMeOut app enabling voice messages between drivers. The HearMeOut app is a hands-free, voice based social network which allows people to post and listen to audio clips on Facebook and Twitter. The app is being integrated into Ford’s SYNC AppLink dashboard in its vehicles.
Effectively, HearMeOut provides a safe, legal, hands-free way to engage with social media such as Facebook or Twitter while driving – or while engaging in other activities which occupy our hands and eyes.
HearMeOut hopes to use its deal with Ford as a springboard to agreements with other automakers. Interestingly, Toyota Motor Corp (TYO:7203) recently acquired rights to use Ford’s SmartDeviceLink technology, possibly opening another door for the startup.
HearMeOut is targeting a mid December listing on the ASX.