Many people know the iconic purple logo of Bit Torrent and have used the site for its file sharing abilities. It has a truly huge audience and now the man who co-founded the company, Ashwin Navin, has invested heavily in his new business Flingo to expand its social TV platform. Flingo started operating in 2008, and have recently secured a financial package of $7 million from August Capital to invest exclusively in the emerging Social TV platform.
Flingo play a unique hand in social media as they publish and distribute Smart TV apps, which are used over televisions that are “internet-enabled”. But this most recent influx of cash will pay for research into the “second screen” space, which encompasses applications and content over laptops, phones and tablets which can be played during television.
This is all part of a crusade of the bigger companies who are trying to become the must have TV viewing accessory, and these include the likes of Miso, IntoNow and Shazam. Many people simultaneously watch TV and play on their laptops and Tablets, talking about the shows they are watching on social media. Studies have suggested that as many as 70% of people who own a tablet use it while watching TV. But it remains to be seen whether these “second screen” companies can overtake the likes of Facebook and Twitter, where people stereotypically vent their views on TV.
There are also concerns whether people will accept second screens for this sort of purpose. There is still much debate in the area and experts are unsure how people engage with the software, and whether social media it is a companion to TV or if it is separate from that experience all together.
David Marquardt of August Capital said: “Flingo has the potential to build a very large business enabling new experiences around broadcast television. The company already has gained strong traction with the top names in TV programming, consumer electronics, and digital media. We're excited to be a part of the team.”