GetFugu is the long awaited search engine that uses Augmented Reality services to point consumers towards their favourite brands. Less than a week after booking Spongetech as its first brand partner, GetFugu has announced that the company is investing $4 million in the search engine.
Who is GetFugu?
GetFugu is a mobile search company that has been teasing for months now. It combines three different types of mobile brand search with an instant purchase ability. When a company signs up with Getfugu, it’s logo and brand name are entered into the system, and the GetFugu search engine will offer it to users.
How does it work?
The three search services are See It, Say It and Find It. See It is the “augmented reality” search – if you snap a company or product log with your mobile, GetFugu will forward you to links, information, adverts and purchasing options for the brand. Say It is voice recognition. You just tell GetFugu what you want, and it does the rest. This works with brand names like “Coke” or generic terms like “clothes”. Find It is location-based – it pulls up the best brand deals near you, and points you in the direction of brand stores that you’re looking for.
What about Spongetech?
Spongetech produces cleaning products for cars and the home – products which are definitely not sponges, despite the name of the company:
See?
Anyway, SpongeTech and GetFugu announced a $250,000 deal a few days ago. The deal incorporated advertising revenue on the GetFugu search engine, as well as custome designed software for SpongTech.
And now, 5 days after that announcement, SpongeTech has announced the investment of a further $4 million in GetFugu.
What gives?
SpongeTech is a very new company – it is only really kicking off now, but according to COO Steven Moskowitz it “expects to be in over 100,000 locations nationwide by the end of the year.” He went on to explain that mobile works perfectly for Spongetech because “purchases of our products are primarily impulse oriented, driven by our extensive branding and advertising campaigns. As we look to immediately satisfy our customers demand, utilizing the most personal and accessible device available, GetFugu will literally change the way consumers behave.”
So SpongeTech has a lot of faith in the following behaviour: Step 1, customer sees SpongeTech ad on TV or billboard. Step 2, customer takes a snap of the logo with GetFugu or just says “Spongetech” into their GetFugu app. Step 3, the customer is provided with the location of the nearest store stocking Spongetech.
What we think?
My opinion of GetFugu has changed over the last few months, as I’ve gotten to know the service better. Initially I felt it was very confused and disparate, with too many different types of search. I have since come to realise that GetFugu’s absolute dedication to brands is what ties the entire service together. GetFugu is a service for someone who knows what they want – it isn’t friendly for random browsing. But if you know you want a Spongetech not-sponge, then GetFugu will connect you with the closest, cheapest deals in a variety of ways. From that point of view it’s a great service. And obviously Spongetech agrees – it’s $4 million sure.
I was thinking about investing in some Getfugu (new tech) shares…
UNTIL I saw this in the European papers!
It would appear that Mr Carl Freer has a lot to answer for before he gets my buck!
The Serial Fraudster Mikael Ljungma’s one time partner in crime… Carl Freer has more than a few skeletons in his very deep cupboard …and the door of deception it seems is now well and truly opening up according to articles appearing almost daily in Scandinavia.
A number of documents that the financial police, the U.S. fiscal and curators have been sent, and which newspaper Børsen has seen, indicates that several of the 12 companies at one time or another has been given shareholdings in publicly traded U.S. IT company Getfugu,
At the beginning of April this year it had a value of 2.7 billion kroner, but has since collapsed to a market capitalization of a small half billion kroner, …As published in Børsen on Monday.
If the information in the documents are correct,( neither Boris Frederiksen and financial police has yet confirmed the data), it appears that Mikael Ljungmans Swedish business partner Carl Freer control a larger part of the listed company, than previously reported for the stock market.
(SEC where are you?) It would at least appear this is a theory that the U.S. Banking and Finance, Securities and Exchange Commission has been asked to investigate.
One of the other theories, as curator Boris Frederiksen, according to Dagbladet Børsen information also is by getting tested is whether the value of the listed Getfugu is actually built on the assets that Carl Freer and Mikael Ljungman owned under the auspices of Media Power. Furthermore, it must now be determined whether it managed both to build up assets using scam money from IT Factory scandal and in fact had money flowing into Media Power, coming in to the U.S. through its subsidiary Ecommerce.
Mikael Ljungman in late August last year set up the company Sovereign Corporate Services with offices in Dubai and in the English kanalø Isle of Man to create the many companies needed, this is clear from correspondence between Ljungman and Sovereign Corporate Services.
These are the 12 companies Lynx Holdings (Cayman) Ltd., Mandalay Investment Ltd., Stone Harbor, Ltd., GR International Limited GmbH, Lynx Overseas Holdings Limited, Spetchlet Global Assets Limited, CJF Overseas Holdings Limited, Lombard LCM Capital Management GmbH, Gate International Investment Ltd, LF Investments Ltd, Ganesha Holdings Ltd and Northern Star International Ltd, located in Switzerland.
GETFUGU and Carl Freer have a lot of explaining to do in the face on mounting evidence connecting him to massive criminality and illegal activities to move Get Fugu on the US market.
Getfugu Inc is another Carl Freer public company that has run up staggering losses for the nine months ended September 30, 2009 totaling $35,272,071.
Carl Freer, Getfugu Inc and its Directors track record will come under the spotlight in one of the largest Civil RICO actions filed in America.
The case filed on 25th November at United States District Court, Central District of California, Central Division. Case No CV09 – 8724.
You can get a copy by contacting the Clark’s Office on 213 894 3863 or via email at records_cacd@cacd.uscourts.gov
oops… guess not