Red Tree Labs and Walque Begin Work on Dual-Use Mobile Application as Part of Red Tree Labsí "Startup as a Service" Program
Atlanta, GA, May 17, 2014 --(PR.com
)-- Red Tree Labs began work on a unique mobile application which will help users of the app to become less sedentary, while simultaneously delivering targeted savings to them as they enter “areas of commerce”. These areas of commerce range from big-box retailers to city shopping districts, malls, outlet centers and large foot print retail centers. Thus, Walque creates both a wellness solution for employers and a platform for marketers. Initially, development will focus on the Android platform, with future releases targeting iOS and Windows 8.
Matt Sander, CEO of Walque LLC describes the project as, “...one of the most unique opportunities in decades. Red Tree positions us to reach MVP at a substantially increased rate, yet minimize cash burn. Their augmentation to our team will result in a much more robust product for our users sooner, rather than later.”
Red Tree Labs is a Silver Sponsor and Blue Chip Technology Advisor to the Ritz Group, the premier networking group connecting Entrepreneurs and Investors in Atlanta. Mr Sander, as a member of the Ritz Group, discovered Red Tree Labs and learned about their “Startup as a Service” program. “Its great to see a developer willing to share the risk with us – it was a deciding factor in our selection of Red Tree Labs as a partner.”
Having seen similar software applications, Tony Lynn, Chief Startup Officer at Red Tree Labs was intrigued with Walque’s solution. “Walque has found an area of convergence between two multi-billion dollar industries which will dramatically and positively affect how each interacts with users. I have not seen that attempted before – the interdependency of the two driving use of the one.” Mr. Lynn went on to say “Adding Walque to our ‘Startup as a Service’ program allows them maximum resources for their money, giving them the runway they need to get to their minimum viable product (MVP). This also allows us to become an integral part of their team, a partner they can rely on.”
When asked to explain “Startup as a Service” in more detail, Tony continues “Startup as a Service” allows startups to extend the reach of cash in the early development stages; providing a method to maintain equity distribution with dilution. Some development investments are deferred initially, and at a later date the startup can decide how those expenses are settled: either in cash, equity, or a combination of both. Frankly, it’s a Win-Win for all parties.”
Walque’s development will continue throughout the summer, with an expected MVP and alpha pilot slated for August 2014. Walque has identified several smaller companies who want to be part of a transformative opportunity, but is always looking for additional participants. For more information visit http://www.walque.com.