Rheti is a new smart phone-based IDE (integrated development environment) platform for building mobile applications. Simply put, Rheti is an App to build Apps for the Post-PC world that enables anyone with no programming experience to create an app straight from their phones!
Rheti is revolutionizing app-making much like Wordpress revolutionized blogging. We have created an app that builds apps in ten minutes or less and requires no programming experience; all from a smartphone. Rheti was developed by a team with more than 45 years of experience and surrounded by world-class advisors from related industries. Our platform was built to serve any user demographic (coders and non-coders alike) and works across all mobile operating systems in a $500MM+ serviceable available market opportunity. With offices in San Francisco, CA and Durham, NC, Rheti Inc. is poised to disrupt the app industry.
Customer Problem: There are over 450,000 Android and 500,000 iOS applications. As developers, we’re constantly meeting people who tell us they have the next best app idea. With our limited time (5% of all US dev population is full-time mobile dev), we can’t build their apps nor instruct them to build it themselves. Thus our clients will always be left with the inability to create an app that solves his/her needs and will have to turn to app purchases that they won’t use very much (26% of mobile apps used just once). If a consumer or non-programmer wants to build an app, he faces: (1) high development costs (costs range from $3,000 to $150,000 or more); (2) different programming platforms and limitations (app creating platforms can cost from avg. $28/month to $5,000 per license); and (4) long learning curves for new developers (takes 5 months to learn Android and 8 months to master iOS). Unfortunately, this essentially prices out the non-programmer population desiring to create an app.
Solution: In October 2010 Wired magazine supported our core philosophy when it mentioned: when you can build it, there’s always an app for that. Thus, we’ve re-thought of the entire smartphone population, not as consumers of apps, but as the best programmers for their own apps. In response to this need, we’ve created a platform that enables any smartphone consumer to create an app on their phone without the need to know programming or use a computer. Our free software platform guides a user into creating his own app in 10 minutes or less and then opens up a feature/plug-in catalog that lets users add further functionality into the app, similar to a Wordpress plug-in functionality. As such, Rheti serves non-programmers, programmers, small businesses and even retailers by making it incredibly easy to create an app; therefore reducing the time needed to prototype, develop, and deploy mobile applications. This platform not only solves that “I have a great idea for an app” problem, but it empowers all smartphone consumers to solve their individual app needs. With lower development costs and no learning curve, Rheti is disrupting the mobile development ecosystem.
Market Opportunity: The Rheti platform can serve a market greater than $500MM including: power bloggers, development shops, SMBs, large retailers, and consumers. This ambitious plan will be phased in four stages (dictated by our product life-cycle) with each phase expanding to an additional market demographic. Initially, we’ll target the 10,000+ Rheti power users and technology bloggers. These bloggers have more than 2,000 followers, aged 18-34, work freelance or in larger publications, are accustomed to paying subscription rates for hosting platforms, form part of technology community groups, and want to manipulate and reuse source code. We will also begin trial partnerships with specific Latin American development shops to evaluate the potential market. Phase 2 will focus on expanding to selling subscriptions to the 2MM service-based SMBs and digital influence builders nationwide. Our target SMBs and digital influence builders include those who do not have an app, have 1-10 employees, and have about $500 of disposable income to spend on an app.
Competitive Landscape: Many consumers are experiencing lots of pain in app development. As such, the competitive environment is evolving at an extremely fast rate. There is one direct threat to our mobile IDE that released its beta on March 6, 2012 named AIDE. This is a mobile-only platform that allows coding on the phone. It requires strong knowledge of mobile programming and an external keyboard. There is no app like ours that requires no coding skills and has plug-in based interface. Apart from AIDE, there are about 40 indirect competitors made up of web-based programming tools that require a PC and charge subscriptions on a monthly basis. These include: Appcelerator and PhoneGap which are geared towards developers and require a PC. The competitive landscape is already experiencing consolidation thus proving that consumers are hungry for a good and practical solution.
Product Description: Rheti, an App to Build AppsTM, is the only IDE built for non-programmers and designed to run cross-platform on any smartphone. As a mobile development platform, our structural foundation consists of the following pillars that make the app creation process better, cheaper, and faster: (1) Mobile IDE – allows for easy mobile app development on the phone without the need to code; (2) component catalog – based on semantic web methodologies, Rheti’s catalog allows users to find, organize, and utilize the best components (or plug-ins) for their apps; and (3) cloud based application builder – Rheti takes the code to the cloud where the final app is compiled without installing other tools. Rheti also allows for app customization outside of the Rheti mobile IDE.
Competitive Advantage: Rheti’s competitive advantage is anchored on our patent pending intellectual property and distinct vision of the mobile industry’s future in comparison to our indirect competitors. Our technology is the first to provide a true cross-platform, smartphone-based IDE that lets any user build mobile apps. Consequently, newly minted apps created with Rheti are available for immediate enjoyment by the user and can be shared right from the phone. This allows for creative exchanges between users while empowering users to remix mobile apps. Our platform provides maximum flexibility for use by our target markets in contrast to our indirect competitors.
Business Development and milestones: Rheti is currently on its third product iteration that was released for Beta on February 2012. So far, we have limited our Beta user-group to 100 users with whom we are testing our core features. As per user-generation milestones, we will continue to build our user base, continue to reach out to tech bloggers to develop free apps for them (200 total apps), and continue our guerrilla marketing campaigns. Our version 1.5 of the product will be released upon receipt of patent protection at which point, we will open our Beta to 2500 users.
Juan Porras (CEO): Juan has a record of success in working with the private and public sectors through launching for-profit and non-for-profit organizations in the United States and Latin America. Most recently, Juan led the launch and development of a technology incubator/accelerator located in Miami, FL assisting over 100 software-based companies per year. Before then, Juan helped launch the operations for a state-wide organization focused on the commercialization of technologies coming out of universities and private research organizations in Florida. Juan currently holds a consultant position with a private family office with investments in the pharmaceutical, financial, and agricultural sector in Central America. Juan will lead the company’s business development efforts nationwide. Juan is a graduate of Duke University with degrees in Economics, Public Policy, and a Markets and Management Certificate.
Rafael Tavarez (CTO): With over 20 years experience in the technology industry, he has a record of bringing forth innovative solutions for companies such as Texaco, Morgan Stanley, Viacom and global cell phone distributor, Brightstar. Ralph also has prior experience with startups. His first experience was as CTO of Ritmoteca.com, a Latin digital music download business. His other primary experience was as COO of Submarino.com, the Amazon of Brazil that is currently public on the Brazilian stock exchange. His strengths lie in envisioning creative products and unique solutions. One such example is Open Gesture, an innovative desktop replacement application for Android. Ralph will be leading the company’s technology efforts. Ralph has been invited to speak at numerous national mobile conferences, most recently O’Reilly’s Open Android.
Georgina Halfkenny (Product Development): With more than 12 years in the software development industry, Georgina has contributed to teams as a Java Developer, Project Manager and QA Automation Specialist for clients such as VeriSign, CGI and Destination Rewards. Georgina also possesses experience in the public sector, most notably as Executive Director of Alberta Youth in Care and Custody, an organization dedicated to youth advocacy. Georgina will be leading the company’s product development efforts.
Current Funding Stage and Amount: Rheti is currently in an Angel round seeking $500,000.
Use of Funds - if you won $50,000 how would you use it? While we understand Rheti would not be eligible for the $50,000 prize, we intend to use the first $50,000 from our angel round to pursue our Intellectual Property protection and release our 3rd party component store.
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Rheti's iSOBOT app released at Android Open O'Reilly Conference