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Tech Stock for voice/text/email while driving!

As someone who lives on my phones (Blackberry & IPhone) it never ceases to amaze me how often i see people driving while they are sending texts, reading e-mail, making twitter/facebook updates or doing who knows what. With the increasing popularity of smart phones/apps/social networking sites, more and more Americans are distracted while driving.  I always thought this was just an annoying “hey pay attention to the road!” or “get off your phone, your holding up traffic!” type of  issue.

Unfortunately, I found out how dangerous this situation has become.

In April of 2009, my 17 year old sister Courtney was killed in a head on collision while driving home from work.  Nobody knows for sure, but it was rumored that the reason she strayed over into oncoming traffic was that she was sending or receiving a text from one of her friends.  She had just graduated with honors and was in her first year of college.  This was the first time i had heard of a traffic fatality related to sending texts while driving.  Since Courtney’s death, I have noticed countless other cases around the country. 

Its estimated that there are approximately 1500 automobile accidents everyday, resulting in approximately 60 deaths.  I’m not sure how many of them can be directly related to phone use while driving but I can bet that whatever the number is…it is steadily on the rise.

To date, 30 states have outlawed sending texts while driving.

As many of you know, I am always seeking the latest technology and am always looking for niche growth ideas in the private and public markets.  Currently i use various free voice recognition technologies in the course of my day.  Primarily i use Dragon to transpose my emails on my phones and Windows Speech Recognition for my computer.  I’ve also used Vlingo with some degree of success. All of these work well as stand alone applications, but are very limited outside their original scope.

I’ve discovered a small technology company that is perfectly positioned to capitalize on the limitations of the current voice recognition platforms, and at the same time, significantly reduce the distraction associated with text/email/social network updates while driving.
Their proprietary platform allows a user to…
Dial by voice
Text by voice
E-mail by voice
System will read your emails to you
Post status updates to social media by voice
All on an open Java based architecture that can be specifically deployed on any cell phone, any carrier, in any language.

The successful Beta test for this system generated over 13,000 paying customers in a short time frame.  I’ll be keeping my eye on them because this is a market that could explode.  Many of the large mobile phone companies and ISP’s are looking heavily at this sector as potential add-ons, vendors, and/or partnerships.  With an estimated 270M cell phones in the United States, the market potential for this company is massive.

For more information on this company, and other ideas like this, visit our newsletter below.http://bit.ly/b4VksW
shawn@puregrowthcapital.com


Disclosure: No positions