Wherify Wireless – Profile
HQ: Redwood Shores, CA
Management: Timothy Nehar is Founder and CEO. His CV is not overwhelming – he was VP at something called CTH Consumer Plastic.
Investors: Company closed $24M in series C round in September 2004, from undisclosed investors. Total funding is $40M. In 2004, company merged with IQ Biometrix (OTCBB:IQBM).
Business Model: Wherify sells wrist watches equipped with GPS beacon so that guardians can track those who might get lost: children, seniors with Alzheimer’s, parolees, pets, etc.
Competitors: Company is in a box as it will become besieged with competition should its watch become a hit. Currently the major watch makers – Casio, Timex, etc. – have GPS offers, but they are sold as navigation aids for the user, rather than the guardian. Closest competitor is Digital Angel Corp.
Dirt: Company saw huge sales spike when Oprah – the rainmaker – ran a segment on the watch. But that may be bad news as, at least according to reviews on Amazon and elsewhere, the watch is a lemon.