Kakiloc has been called a model or symbol for many things; the state of Canadian entrepreneurship, including the speed bumps along the way, and the paradigm-shifting thinking outside the box that competes with growing verticals in a scalable market. Years after their initial work, Google, Facebook and virtually all other internet marketers are using geo location ubiquitously – everyone wants to know the ‘where’ as well as the why and how.
Location based marketing, geo identification, gps tracking and any technique that accurately identifies either your location or the location of your target (destination) or both are germane to this discussion. Whether using gps or ip location, or a combination of both, this technology is really in its infancy, but has the potential to become ubiquitous because of the possibilities to connect vendors with customers and vice versa. Martin and Alain are pioneers because they recognized this long before the marketplace discovered it.
Since a Kakiloc location-based service allows you to connect with your friends in order to know where they are, you can better plan to meet for shopping or dinner. One of it’s best feature is the notification tool that alerts you whenever a friend reaches his/her destination so that plans are easier to formulate. So for instance, you are planning to go shopping at one of those large stores. like Target, that is located in a sprawling mall. The actual store you are planning to meet at sells all sorts of household products including wholesale & retail toilet paper. Those folks who have a resale number can buy wholesale, while those without the requisite paper buy retail. You plan to meet at the toilet paper section since some prefer ecological friendly toilet paper and some want the premium 2-ply toilet paper. One of the friends is buying wholesale for his gas station. Everyone is scattered around the mall, but slowly converge on the actual store as they are notified of the first person reaching the toilet paper area. There are no phone calls asking where someone is, just the alerts as people approach the final designation. Very cool.
The corporation was originally funded by personal loans (Martin and Alain both took out mortgages on their homes) and personal savings once they achieved proof of concept and were able to demonstrate their findings. During the very early days, when both Martin and Alain were still employed and working full time jobs, they often resorted to cash advances they obtained from payday loans, in spite of the high interest rates and often shady dealers they were associated with. But once the venture firms bought in, money was no longer a problem.
The 2 principals remain as the primary officers of the company, but they have also brought in a small management team to handle daily affairs and marketing. Martin and Alain still maintain control and take part in all major marketing presentations, largely because of their deep understanding of the technicals. On a couple of occasions, when resources were needed to develop new products, short term loans (no more payday loans or cash advances, folks) and a line of credit were established to save time and provide a convenient and reliable source of cash. There are a couple of minority shareholders, but the goal is for the partners to retain control, so no stock offerings are envisioned. There have been some proposals for an ipo, but the market conditions are not right for that at this moment.
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