While many entrepreneurs struggle with getting access to funds from investors, a Bloemfontein start-up company managed to secure over R26-million from Canadian and American investors over the past seven months.
Born in Bethlehem and raised in Bloemfontein, Vian Chinner, founder and CEO of Xineoh (pronounced Zee-noh), a tech company based in Bloemfontein, developed a recommender algorithm which monitors consumer behaviour as well as predicts potential purchasing behaviour.
“It wasn’t always easy though,” Chinner says. “We initially began with another company in 2013. The start-up was a venture backed by Move Inc. but although things on the product development side were going well, the partner relationship wasn’t doing so well. So in 2014, we left that company and started from scratch. That’s where the name Xineoh, which is actually Phoenix spelt backwards, comes from. We have gone through so much, but like a Phoenix, we always rise from the ashes, always coming back stronger,” the proud business owner says.
Chinner believes that VideoLlama, a video streaming platform that implements the recommender algorithm, will be the next big thing as it will help users decide on which movies they want to watch, based on the mood they are in, what time of the day it is, as well as other factors. “So basically, if you want to watch a movie, you’re provided with movie options and also given an options of ‘yes’, ‘no’ or ‘maybe’ on the movie option available and based on what your choices are. The system picks up on which movies you are most likely to watch, based on the choices of other users in the system.” It will work for TV shows (series) as well. This process also allows users to specify their viewing preferences and then, based on the users’ choices, the algorithm begins to filter its offerings, which are again based on the viewers’ stated preferences.
Upon the users’ choice, viewers are then given a list of video streaming service providers they would like to watch the movie through. They pay the service provider the stated fee, and proceed to view the chosen film. Chinner then gets his commission from the chosen vendor. VideoLlama is not yet open to the public as it is still in its testing phases. However, it will soon first roll out in the United States then to the rest of the world. Following this, Chinner says he will look at implementing the recommender algorithm in the real estate market. It will help house seekers find their ideal homes or commercial property in ways similar to how VideLlama works.
Currently, he employs 15 highly specialised people in all his offices and says he believes in treating each employee firstly, as an individual and secondly, the way he would like to be treated himself. He prides himself on providing innovative, yet professional and global standard work. He also says he hopes to see a culture of start-ups in the future, not only in Bloemfontein but in South Africa as well. – Pulane Choane
pulane@centralmediagroup.co.za