People like to be close to other people with similar interests, like reality television or sports, and Interacting Technology was founded in 2012 to address that basic human wish.
The Israeli company, which has raised $10 million and employs a staff of 80, has developed a digital platform for community management based on shared interests.
"I told myself that if somebody was interested in a certain thing, was engrossed by it, and loved it, then we should provide them with the opportunity to meet likeminded people," says 39-year-old Liav Eliash, the founder and CEO of Interacting Technology.
Eliash knows a thing or two about people, it turns out; his company recently announced a breakthrough - signing an agreement with Spanish soccer giant Real Madrid to help develop its official app. The company will join the development of the app for Real, the biggest soccer brand in the world according to a Forbes analysis from July.
Interacting was founded by Eliash, formerly a manager at Israeli online gambling company 888. He initially formed the idea for Interacting to provide a solution for the LGBT community; he created Moovz, the still active online portal which claims to be "the largest social network in the world" for that community.
But Eliash insists that Interacting is not a social network and that it should not be put in the samae category as social media companies like Facebook. "This platform is based on identification of shared content. Say we are visiting a museum, and we are standing near the same statue. I’m looking at the statue, and you are looking at the statue - that creates a relationship. The statue is the world of content, and our platform uses content worlds as ‘icebreakers’ - whether it’s between two people or 20 million people or 450 million people, as with Real Madrid fans.
"For example, a Real fan who can’t make it to a game can still take part in the game through the club’s app, including - among the options, the ability to interact with another fan who isn’t in the stadium," he says.
Eliash says that Real Madrid is investing in the tech part of the club management in a bid to create more revenue streams. Club management, in part, includes personal communication with each fan - which is where Interacting comes in. "Our ability to generate localization and to reach fans in different countries will allow Real fans to take a more active role in the online activities of the club," said Eliash.
He claims the new development will generate for Real Madrid - and for Interacting - tens of millions of dollars in revenue for 2018.
"Our platform is based on generating traffic and on monetization, but its emphasis is on gamification - which is adding the gaming experience for the user, and games are fun. A fan who downloads the app, for example, is greeted with a round of applause the first time he or she opens it. It makes them feel popular and loved," he says.
The app will also offer videos of the pitch from various angles (but not live) and virtual hats or scarves for sale. According to Eliash, the platform could create a situation in which 450 million people watch each game instead of the 81,000 the Santiago Bernabéu can hold.
Eliash explains that Interacting is responsible for gamification alongside Microsoft, which is providing the platform.
How will Interacting generate revenue from this joint venture?
Eliash will not expand on the terms of the joint venture, and only notes that the business model is similar to that of other social networks like Facebook and of mobile app creators like Candy Crush - meaning ad revenue or in-app purchases.
"It’s all about the experience," Eliash stresses, "And if we fail, it is because we didn’t create a good enough experience and did not make the Real fans stay in the app for as long as possible."
Published by Globes [online], Israel business news - www.globes-online.com - on February 2, 2016
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