Brief: Location App Wave Reportedly Gains 2M Users During Crowdcube Campaign

Just a few weeks after Wave closed its Crowdcube campaign, the equity crowdfunding platform revealed the location app gained 2 million more users during its funding round.

Wave 1As previously reported, Wave is a free smartphone app that allows anyone to see in real-time the exact location of their contacts in a private map for a limited period of time. It has almost 4 million users worldwide and is seeking to change the way people find one another. Features of Wave’s app include:

  • Privacy: Users will only meet those the choose when they want and in a private and temporary environment when both parties agree to participate.
  • Real-time: Offers a geolocation service that enables the pair to see each other moving live across the map and see up-to-date locations in private.
  • Preset Access: the connection time is set in advance by both sides. Once the time expires, the Wave is over, and the location can no longer be tracked by the other party.
  • Multi-user groups: A ‘wave’ can include up to ten people in one group. 

Originally seeking £500,000, Wave secured £814,210 from 640 investors. Crowdcube announced the app’s news on Twitter earlier today.

Funds from the campaign will be used to launch into the UK along with debut its beta SAAS platform, initiate the development of the app’s version 3.0 and accelerate global growth.

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