20 Nov '12, 12am

PhewTick, a Japanese startup with USD10M in the bank, wants to make serendipity profitable

PhewTick, a Japanese startup with USD10M in the bank, wants to make serendipity profitable

PhewTick , the memorably-named mobile app that pays you to meet strangers, has become all the rage in Asia. Since its launch in June 2012, it has already amassed a remarkable 500,000 users from 50 countries. Skeptics might say that the app sounds too good to be true. Users earn cash by scanning each other’s QR codes using the PhewTick app on iPhone or Android . They then play a cute mini-game which involves controlling a cat as it tries to capture fish containing a different amounts of points. Every 1,000 points earns the user about SGD1.53, which they can cash out via PayPal after they hit a SGD30 (USD23.50) threshold. The app is designed to encourage serendipitous encounters between strangers and also people that already know one another. It’s possible for me to ‘phewtick’ with my colleagues again and again — all that’s stopping me from doing it every second is a 12-hour...

Full article: http://sgentrepreneurs.com/2012/11/20/phewtick-is-more-th...

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