Vatorx2
BiteMe
Location: 3527 Mt Diablo Bl , Lafayette, California, United States United States
Founded in: 2013
Stage: Alpha (prototype)
Number of employees: 6-15
Funding history:
- Date: 05/2013, Seed: undisclosed amount (post valuation: undisclosed amount).
Short URL: vator.co/biteme
Followers (162)
Awards and mentions
12978_1383
First-Place and best pitch out of 30 competing companies
Vatorx1

BiteMe

Creative Social Video Betting
Startup/business
Lafayette, California, United States United States
https://www.dropbox.com/s/xpud8fb4refgy3r/Produce_1.mp4

Put aside your your notions of "gambling". Online betting has been a solitary experience limited to sports. BiteMe enables and socializes the predictive power in everyone to gamify the endless stream of daily life events. BiteMe is part of a massive horizontal opportunity. Vision, guts and resources should definitely inquire within.

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Company description

The disruptive things we do in B2B are demonstrable Please see video and White Paper "The Long Tail of Betting" US Patent 7,792,723 (plus Intl IP). Now we want to apply our our radical IP to gaming, and in particular, to social betting. This a potential $20B market http://venturebeat.com/2013/03/27/a-winning-wager-experts-see-a-20b-market-for-gambling-in-games/

"BiteMe" is a multi-player creative-social-betting-video mobile platform (did you get all that?). With just a dollar* in your bank, you can create and offer any number of wildly creative bets that are interesting to you and broadcast them worldwide via 6-second microvideo (Vine) taken from your smartphone. The more interesting your video and bet offer "bait", the more viewers you get who may vote up your video and take your bet offer "bite". You can multicast 10 or 100 bet offers of completely different events "baits", all at the same time at different odds YOU set (not the house), ALL without risking more than one single bet! Why fish with just one pole in one pond at a time? Potential players and viewers can up vote your creative 6-second pitch (trolls get voted out) and you gain possible nano-celebrity and virtual money (real money to follow)  resulting from those votes. You also get acclaim and virtual money for judging the videos and outcomes of the bets of others. It is fun and safe to play as creatively and wildly as desired. Because there is no opportunity cost impediment to play, other players will join in with their own creativity and, sometimes they will "shark" your bet idea, by competing against you and offering your original bet but with better odds to lure interested players away (but only you get the up votes for your originality though). For the first time, players control the odds, and rate each other based on how creative, successful or controversial each other are, all in a fully transparent way. What are you a brianiac on? Socialize and monetize that knowledge by expressing your predictions on politics, pop-culture, sports , or anything that interests you. BiteMe appeals to both ends of the player spectrum. The hardcore gambler, solely incentivized by financial gain, benefits from the visibility of supply & demand of odds as well as the ability to create bets not hostable by conventinal venues "the house" (that pesky opportunity cost thing again). The casual player, who isn't necessarily incentivized financially but who is definitely incentivized socially, will enjoy the rewards of expression, discoverability and upvotes.

*Betting is real-money where legal and soft-money in other jurisdictions. And those gates are coming down! 

Here's how you do it:

Let's say you're a big American Idol fan and you just know that Contestant A is going to win.

Step One: You register on BiteMe. It's free, easy and anonymous.

Step Two: You enter a few brief details about your bet offer (who, what and when) and what odds you are offering $1 to $1, $2 to $1 etc.

Step Three: On your smartphone you make your 6-second micro video promoting your bet in any entertaining way you see fit. It can be a smack down of the competition, or why you are so smart, or why your idol is so great, or anything that is entertaining which can drum up votes for your video and winnings to your coffer.

Step Four: At outcome, your virtual currency is either transfered out of or into your account. BiteMe only makes public your upvotes, win/loss ratio, judging stature and reputation on disputes. You rise or fall on how well you create and execute.

 



Team
  • Barry Vial
    Barry Vial | Founder
    Mundane executive heavy-lifting to repeat the impression of "overnight success".
  • Mark Molloy
    Mark Molloy | Team member
    CTO & Co-Founder Software developer and inventor; 13 US and international patents in 5 subject areas. Unisys, Tandem Computers, Compaq. Phi Beta Kappa.  
Business model

Freemium Model

Very Small Transaction Success Fee

Cross-Platform virtual goods commerce

Premium play upgrades

(cliche alert! ...advertising)

Competitive advantage

The unique core IP (US Patent 7,792,723 and Internationally patented) of BiteMe enables market operations never before possible and which are absolutely essential for social betting to spread virally beyond the borders of "gambling" and without the impediment of player liquidity. Combined with other leading edge coolness (like Vine), BiteMe will foster a new medium of social expression without the funding mass needed for symmetry-dependent user base (aka chicken and the egg).

Investors
Investor Deafult Image
Roel Pieper - Unconfirmed
Investor Deafult Image
Dave Yonamine - Unconfirmed