Today we speak with Yunha Kim, CEO and Co-Founder of Locket, the app that pays you every time you swipe to unlock your phone.
Tell us about the product that you are launching.
Locket is a Manhattan-based mobile advertising startup that developed an Android app that delivers relevant ads and coupons to your smartphone lock screen and pays you for simply unlocking your phone. Check out the app here!
What market are you attacking and how big is it?
“First Glance Advertising.” People check their phones 150 times a day. Multiplied by the number of Android users out there, and that’s 10.7 billion glances on lock screens every day, which is why we believe the smartphone lock screen is the most valuable unused real estate in advertising.
What is the business model?
We get paid from advertisers on a CPM basis for displaying ads and we pay users for renting out their lock screen. Currently, we are paying 1 cent per swipe, regardless of whether or not they ignore or engage with the ad.
Are there any milestones that you plan to achieve within 6 months?
We want to grow our user base and bring in great advertisers and partners. We will be introducing new features where users can put their earnings on gift cards, or apply them towards their phone bills.
Why did you choose NYC over other locations to launch your company?
Because most advertising agencies are only a few blocks away from us in midtown Manhattan!