On June 26th, LIVEO (CEO: Kidae Hong) announced the iOS launch of LIVEO, a live-streaming app for friends.
Unlike other live streaming services that are geared towards celebrities and companies for advertising purposes, LIVEO provides a relatively small-scale service where users can share their daily lives with friends via real-time live videos.
Some of LIVEO’s main functions include: ‘Wassup’ to request friends’ live videos, ‘Private Live’, to share private live videos with selected friends, ‘Video Snap’ to upload short moments, and ‘Timeline’ to interact with your friends following the live streaming session.
Since its beta launch last December, LIVEO has recorded downloads from 50 countries including the U.S., Asia, and the Middle East in just three months. Aside from the United States, its main target region, LIVEO is gaining popularity in Middle Eastern countries such as Qatar that are tailored to its cultural characteristics.
LIVEO’s Co-founder Seoyoung Park stated, “There are too many friends on my Facebook including my parents, professors, and other acquaintances, making it difficult start a live streaming video. Same goes with Instagram. On LIVEO, however, I can invite selected friends, which makes it less burdensome to start live videos,” She added, “I hope LIVEO could serve as one of the ways to build meaningful relationships.”
The live streaming market is expected to grow up to 70 trillion units in the next five years. One survey showed that Facebook users tend to watch live videos 3 times longer than the regular videos, and are likely to leave 10 times more comments. LIVEO’s CEO Hong noted that as a specialized live streaming social media app, it aims to become the first globally used live-streaming service.
LIVEO landed its initial investment in Korea last year and was selected as the first Korean team in Blue Startups, one of the top 20 US accelerators as it prepares to enter the global market.
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