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March 14, 2016
Dear Shareholders,
In this update Id like to share some current events going on at Eight Solutions.
U.S. Market
First up, we are attending an investor conference in California this week (you may have seen the news release). This is a great opportunity to tell our story and product strategy to the American investment community. As you know the US market is bigger, more active and excited about the growing tech opportunities. I know that many people have been pushing us to generate more activity south of the border, so this conference is the kick off. We are using this conference as an opportunity to tell our data platform story. Cumul8 is a system that works from raw data, to visualization, to collaboration on that data. This is a strong story for the US market--big data, the cloud, mobile.
Reelhouse VR
On the Reelhouse front, we have officially launched a dedicated Virtual Reality (VR) channel. The Reelhouse team is at South by Southwest, in Austin Texas, rolling out our big VR plan with 15 new VR films. Today you can check out the VR channel and watch three film projects: Brooklyn Bikes, NYC Views and Burning Man.
Over the next few weeks, we roll out our comprehensive VR strategy with a VR Facebook campaign and the release of a new IOS app for streaming VR with a 360 player for 2D viewing. The Reelhouse VR app allows you to stream and view true VR on the Google cardboard player. Both our web and app 360 players will support Cardboard and 2D view. The 2D mode allows you to click and drag to look, and for mobile, moving the device to look around.
You will be able to see VR content and marketing on the Reelhouse home page and dedicated VR page with over 15 titles. Then, our native iOS app that is 360 Video ready, will be on the App Store with a dedicated area for VR content for users to discover.
VR Market Intel
We believe that VR is the next big thing in entertainment and has the same disruptive potential as the TV, PC, the internet, and smartphones. According to analysts, VR headsets sales will reach $461M this year and VR will be mainstream by 2017. By 2025 the VR content market size will reach $5.4B, the VR hardware market will reach $62B, and overall headset penetration will hit 500 million users.
From an investor perspective, VR has given rise to some significant deals recently. These include:
Facebook acquired Oculus (head mounted display) for $2.3B
Google invested $542B in Magic Leap (AR device player)
WeVR (cinematic content) raised $18.6M
High Fidelity (virtual world building software) raised $17.5M
Razer/OSVR (open source HMD) raised $50M
Jaunt (cameras and content) raised over $35M
Cumul8 News
Cumul8 has its first deployment of the forestry remote reader hitting a mill this month. We have spent the last few months designing and writing this with our client. This will drive home the point of gather from sensors, visualize the data, and collaborate on that data. With Cumul8 the mill will be able to gather the sensor data and then store in the cloud. This complete system for forestry will evolve to using parts of each of our three Cumul8 products. The solution will allow the mills to better understand, second-by-second, performance benchmarks and how to adjust maintenance. This understanding will improve the mill operations, save money and increase volume.
Sky is now completing its third round of user testing. The team is getting valuable insight into whats important to users, how users want their data viewed, and most important how they want to collaborate with that data. We are excited to launch Sky this year.
Hiring continues at Cumul8. Since January we have added another 4 developers and designers to help the growing tasks in all three of the Cumul8 product lines. As well, we have launched a new website to reflect the Cumul8 brand and value proposition.
Thats it for now. I thank you for reading, for your support and your feedback.
Sincerely,
Rory |
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