PIA Press Release
Thursday, January 19, 2012
PicLyf makers ready for possible deals in Silicon Valleyby Mai Gevera-Macapagat
DAVAO CITY, Jan 19 (PIA) Davao-based makers of a photo blogging site, PicLyf, got their break recently as they bagged one of the three slots in the ON3 Pitching competition organized by the Science and Technology Advisory Council of Silicon Valley (STAC-SV).
PicLyf will be sent to Silicon Valley for a three-month immersion where they could sign business deals with venture capitalists.
PicLyf maker Eric Su described their winning platform as a site where people could share detailed pictures of their life.
Its a fun-to-update life blog, personal catalog and scrapbook rolled into one, he said.
When asked the difference of PicLyf from the popular Facebook and Google social networking sites, Su said, We do not have intention of taking the place of FB or Google. Rather, we focus on our edge which is the photo.
The site enables the user to delightfully remember life through the photo portfolio.
It took the PicLyf team about two years before setting to formal work. This Davao-based team traversed the hard road until they had their platform all ready for the international market.
I remember a Singaporean company approached us and offered a considerable amount of money to partner with us in this project. But we declined realizing that their terms are not that favorable, Su said.
Through their innovative ideas, the platform now enables users to annotate photos, tag friends, zoom in on big pictures, react to them in one tap, and keep track of people they follow.
The PicLyf team joined the ON3 Pitching Competition last year wherein they were given three minutes to explain their business venture and convince the judges how efficient and significant their product or project is in the field of information technology.
Su shared how challenging the competition was for them especially with the three-minute time limit given to them.
We presented a big product and so it was difficult to sculpt it in a brief presentation. But we did it until the core became obsvious, he said.
Over all the other entries from other parts of the country, Su believed that PicLyfs edge was on risk management and possible returns that the product could provides as these are important considerations taken by any investor.
The team hopes to sign deals in the 3-month exposure and immersion in Silicon Valley. They do not have a particular target investment amount to bring home from California, however, they are determined to continue upgrading the platform.
PicLyf is set to place advertisements on the side by February and will seek the help of bloggers to spread the word about this photo diary site. (PIA/Mai Gevera-Macapagat)