3/10/2023 0 Comments Amit ben cloudtag![]() ![]() Our first unique selling point is that we are coming from an ECG background so we are actually taking the heart rate from the chest as opposed to the wrist so our quality of data is fair superior to anyone else. We’ve been targeting the graduates on the first round of users of wearables whereby they were excited about the connected fitness, take off the data on the fly but realising later on that the data they receive may means the calories that they’ve burned or the steps that they’ve done is not really accurate and because of that they could not assume certain things. ![]() There would be a level of consolidation and again, the two elements here are definitely the product definition and the unique selling point and what we have is a very specific one. Recently, FitBit announced they are planning on doing an IPO so I think in that respect, the market is becoming mature. Now a lot of companies and investment communities and institutions will start looking at it as a structured market. I think it’s becoming a blue chip market with the entrance of Apple with the Apple watch. Q4: There seems to be quite a bit of competition out there already, what makes CloudTag any different from other companies in the market?Ī4: It is a very dynamic market. Although having said that, the United States is one big mass market, UK and Germany represent 80% of the wearable in Europe so I think as a start-up, we should scale down our ambitions to conquer the world in one go but I think those markets are the most important markets for us going forward. The majority are female users and they have very specific needs for specific reasons to follow a regime and we are here to provide for them their daily dashboards for health and obviously achieving their goals.Ī3: Indeed. Our market aim is weight loss which is the largest part of the health and fitness markets. Q2: Moving on to CloudTag, what does the company do?Ī2: Primarily, we are in the wearable device for health and fitness market. So the skill sets are very clear there in the ability to drive a start-up company, enhance all the scientific disciplines, time to market is always critical in these companies especially in CloudTag whereby this market is exploding and the ability to be hands-on with a very clear definition to where we want to drive so I think this is the preamble why I became close to CloudTag and why CloudTag became an interest to me. This company took 16 months from start to sale and was very rich in algorithms, software development, user interface of course, the security level, obviously encrypting the data and again, fundraising and investors-relations and engaging Converse Communication which is a NASDAQ listed company. The other company that is also very close to CloudTag, in a different manner, is Odigo which is an instant messaging base for the BBM. So this is one kind of experience and the medical device there is a very clear indication towards CloudTag that comes from a medical device in the ECG. In between all of that, I had to do the fundraising and investors-relation and then we got to the level of enticing Johnson and Johnson to come to the negotiating table, going through the whole merger and acquisition proposal and this was all done within 36 months and products were already in the market. We then had to deal with the marketing and sales, it is a very difficult market to enter. We obviously had to deal with the regulatory, it is a medical device so we had the FDA for the United States, the CE mark for the European community, PMDA for Japan, and those were our three biggest markets. During that period of time of course, one had to build up the product, had to have all the abilities to get all the scientific discipline and get them in one go in order to get a product from a very clear invention. I co-founded it then became the CEO and within 36 months sold it to Johnson and Johnson. Q1: You have quite an extensive background in technology companies, could you tell us a bit about yourself and these companies?Ī1: If I pick up on 2 of my companies that I co-founded, the first was Biosense which is a medical device company. CloudTag Inc (LON:CTAG) Chief Executive Officer Amit Ben-Haim caught up with DirectorsTalk for an exclusive interview to provide a company background and to discuss their plans in the run up to their 2016 product launch at CES ![]()
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