With all the travel we have done lately to Atlanta, Northern Virginia and Maryland, I wanted to focus on some new companies that we are seeing here in North Carolina. Here are three new companies locally that caught my eye and are on my list of ones to watch.
These companies made this list because I like the people involved, I really like their business models, they operate in big markets and they all have a low cost needed to ramp up. And they are all making it happen without venture money.
1. Rival Health. This company is focused on creating healthy lifestyles through effective programs, education, proper nutrition and exercise. Pete Durand, former CEO of Integrian is the founder & CEO.
So, there is A LOT of competition out there right? Google "weight loss" and you will find tons of companies screaming for your wallet. What differentiates Rival Health is that it is a subscription service with no advertising. This is all about losing weight with exercise and sensible nutrition. Pete says this is more about a lifestyle change than just a 90 day program.
Here is what the offering looks like:
- web based platform
- best in class video content
- targeting insurance companies, schools, corporations
They are playing in a big market. $40 billion is spent on the diet industry each year. I love the recurring revenue model with this business and the fact that it doesn't take a lot of capital to accelerate growth.
Pete hopes to have the company's site live sometime later this summer.
2. Original Projects. The company is "the social network for ideas." Its where they say people can bring their ideas or projects to get them developed faster. Nathan Wieler heads this one up. He is the founder and original CEO behind Zoom Culture. People can go to the OP site, colloborate with other users and create real products or services to make money from their efforts.
The site is live and in beta. Nathan said the company will add a lot more functionality within the next 90 days. He shared a lot of those plans with me and I walked away really impressed.
The thinking behind Original Projects is that many great ideas never become a reality because of time and resource constraints. This connects the person/people with the idea to others (entrepreneurs, consultants, investors, lawyers, accountants, job seekers) that can help develop the idea.
3. Spreedly. Led by founder Nathaniel Talbott, Spreedly a billing system that helps companies sell and manage subscriptions on their site. This is good for initial signups and free trials, cancellations, upgrades, etc. They also set it up so it works with multiple currencies. Current customers include: gaming companies, SaaS companies and content providers.
With the growing focus companies are making to get recrurring revenue, this is an interesting software tool to manage it all. Have 2,000 customers that you need to bill every month? Spreedly can handle it.
Noticed a typo in your post:
"People can go to the OP site, colloborate with..."
colloborate > collaborate
Posted by: Justin | August 10, 2009 at 06:08 PM