Sramana Mitra: To deliver on this particular use case, you are obviously pulling data from Twitter, Facebook and other social media channels. How does that data framework work? Do you have to pay Twitter to get their data?
Kristin Muhlner: No, we don’t. Twitter and Facebook are open feedback channels. As long as you comply with their terms of service and their developer APIs, there are a number of methods with which you can gather data. With Twitter, for example, we are listening for those specific handles, and then we can bring that data in. It works similarly with Facebook – there are pages on Facebook dedicated to the agencies where you can gather data. >>>
Sramana Mitra: So you have a platform strategy and are encouraging companies to build on top of that?
Khris Loux: Exactly. We don’t build any experiences on our own platform. We build the platform software community to build on top of it. >>>
Sramana Mitra: Does that necessarily need to change? You do have a proxy and the kind of streaming economy you are talking about, which is working just fine on a CPC/CPN basis.
One thing I have observed is that if too many things need to change for your vision to become a reality, then the likelihood of that reality coming about is low. What I am observing is that there is no requirement for the ad system to change for a streaming economy to work. >>>
Sramana Mitra: That is very interesting. What do you charge? What does ESPN pay you for something like this?
Khris Loux: It is use based. It is like a cellphone plan – according to page views. Up to $100 million is a certain price. Up to a billion is another price. It is like a cellphone plan. If you access the Cleveland page, you open up one stream and that stream costs the company a unit of one. >>>
Sramana Mitra: How does the consumer access that experience? Where do you show up? Does the stream show up on my Facebook page or on NBC’s site, where you are having an engagement with the Law & Order cast? Help us to understand how it is deployed. >>>
Sramana Mitra: Technologically, that is a very different implementation. Is that something you do as well? It is more about crawling the web and finding out who is talking about a particular stock as opposed to more of a real-time communication platform? >>>
Sramana Mitra: Who are your customers?
Khris Loux: Major media properties like Disney, ESPN, NBC Universal, or Universal Music. Those types of sites that have rich and deep content, and they have access to resource material. For instance, Universal Music has Lady Gaga and Eminem as musicians that are part of their agreements. They thus have the ability to get Lady Gaga and connect her directly to her fans in a live Q&A experience. >>>
Khris Loux is the CEO and co-founder of Echo, the world’s first and largest real-time web platform. Khris has a bachelor of science with a double major in economics and finance and a minor in computer science from Mount Saint Mary’s College in Maryland. In this interview he talks about how the web is transforming from a static web to a real-time streaming web and how his company provides a platform to create apps that allow other companies to adapt to those changes. Furthermore, he gives interesting insights for entrepreneurs who want to become a part of this industry.
Sramana Mitra: Khris, let’s start with some context about Echo. Tell us what you do, what the company is all about, and a little bit about yourself. >>>