Released in March 2008
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Stumble led to NeuStep's beginning |
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FINDING ANOTHER NICHE
Ann Meyer, Chicago Tribune
March 24, 2008
Raphael Bennett is another Chicago Internet entrepreneur who scrapped his first business idea to focus on an opportunity that emerged out of nowhere.
Bennett had created an Internet marketing firm shortly after graduating college and was working on creating digital images using a camera on a tripod when he accidentally kicked over the tripod, he said.
The accident threw off the image he was photographing, but led to a new Web-based virtual walk-through technology. When he switched from the new image to the old, he saw a forward progression, he said. By taking 10 images at different angles and stitching them together in a circle, he created the feeling of walking through a room.
Bennett researched the market and found nothing available like the technology he discovered.
"I was taught to evaluate options and see if they have a fit or need in the marketplace," said Bennett, president of operations. "If so, you better hurry quick and start to do it."
So Bennett sold the client list from his Internet marketing firm and used the funds to start NeuStep in May 2006.
NeuStep, which devised a proprietary mechanism for digital SLR cameras and created its own software, has received two patents protecting its walk-through process. The company gets most of its business from marketing agencies in the hospitality, convention and tourism industries.
But his big vision is to make the technology available to anyone through a platform similar to Flickr, said Gene Ellis, president of sales. Revenue would come from strategic advertising and a licensing fee to create the content.
"We think we can empower the world, while keeping the same margin and focus on innovation," Bennett said.
The company has outfitted an electric wheelchair with its equipment to capture images in a methodical way. "We have close to 10 gigabytes from the auto show and compressed it down to 100 megabytes," Bennett said.
The six-employee company generated $470,000 in revenue in 2007, Bennett said. Fees range from $5,000 to $7,000 per day, Bennett said, noting that the company shot 1.3 million square feet at the Chicago Auto Show in one 10-hour day.
But Bennett envisions a time when anyone will be able to use NeuStep's technology to create walk-through images on their own with the company helping customers process, organize and store the content.
The company now has servers in 18 locations throughout the world, to speed downloading time for clients. Bennett marvels at the accidental nature of his discovery.
"If I didn't kick the tripod, who knows?" he said.
Click here to see the 2008 Chicago Auto Show
—Ann Meyer, Chicago Tribune
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NeuStep Set to Deliver the Most Interactive, Rich Media in Travel Industry Today |
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CHICAGO -- NeuStep, LLC, the pioneer in virtual walk-through technology, today announced a strategic partnership with ICE Portal, the largest distributor of rich media content in the world. The recent agreement will enable NeuStep virtual walk-through content to be delivered to ICE Portal's network of over 30,000 travel websites. This latest development highlights NeuStep's current initiative of expanding new value added services for their client's within the hospitality industry, according to Raphael Bennett, president of NeuStep.
"NeuStep's walk-though tours are taking virtual tours to a whole new level on both the visual front and in regards to user interactivity. We are enthusiastic about being able to distribute the NeuStep tours to 1,000s of travel sites that take rich content from ICE Portal," said Henry Woodman, President of ICE Portal.
NeuStep Virtual Walk-throughs solve the fundamental problem of a web-user's limited depth of field perspective when viewing a static 2D image or panoramic photo. Unlike a traditional virtual tour, consumers can benefit by seamlessly walking through specific points of interests and experience the location as if they were "in-person."
"The NeuStep team was very accommodating, which was instrumental to our decision in selecting them for this assignment. Hotels are a 24-hour a day business and they were able to be sensitive to our guests and shoot most of the content in the middle of the night," said Maggie Burke, Director of Marketing for the Grand Geneva Resort & Spa.
"The Grand Geneva Resort and Spa is an enormous 1300 acre property. We have multiple buildings and very distinct architectural challenges. Most meeting planners and guests looking for their next vacation want to see all we have to offer. With the NeuStep technology, they can take a seamless tour of our entire facility from the home or office," Burke added.
Since the commercial availability of Virtual Walk-through service and production in February of 2007, NeuStep provided its proprietary technology to the hospitality, real estate, aviation, entertainment, education, recreation and commercial industries. NeuStep enforces truth in online representation, resulting in better qualifies leads for and increased efficiency.
"Online rich media content simplifies the process of marketing venues to consumers Worldwide. However, the combination of enhancing the end user experience and offering a solution to differentiate one venue over another has created a demand for virtual walk-through presentations," added Bennett.
ICE Portal is the industry leader in the production, management, and distribution of rich visual content. With a global e-marketing network, ICE Portal technology helps travel suppliers, like hotel chairs, tourism boards, and cruise lines, manage and deliver rich visual content to 1,000s of distributors, like Orbitz, Expedia, and Travelocity. The company manages and delivers more rich media content for hotels, cruise ships, and destinations than any other company. ICE Portal offers production of rich content including videos, 360 virtual tours and Flash WebShows. ICE Portal's content can be seen globally on over 30,000 travel-related websites and can be displayed in eight different languages.
NeuStep has been recognized as the enterprise leader in web-based virtual walk-through solutions and production. Unlike the previous standard of a 360 degree virtual tour, NeuStep's virtual walk-through enables the end user to seamlessly walk-through an existing space. The virtual walk-through presentation has become one of the most sought after interactive solutions for industry professionals looking to enhance their facility's presence and engage their consumers on the internet. NeuStep is dedicated to delivering a true enterprise solution for developing and managing virtual walk-through presentations. For more information, please visit www.neustep.com or call 773-NEU-STEP.
Take a look at the Grand Geneva Resort |
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Revolutionary online technology puts you "In Person"... |
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FOR IMMEDIATE RELEASE For more information contact: Raphael Bennett
773-638-7837 x207 REVOLUTIONARY ONLINE TECHNOLOGY PUTS YOU “IN-PERSON” NeuStep lets you revisit the 100th Chicago Auto Show Online CHICAGO – (MARCH 7, 2008) – NeuStep, the pioneer in virtual walk-through technology has produced 19 virtual walk-through exhibits covering almost 1.3 million square feet at the McCormick Convention Center to showcase the 100th Chicago Auto Show. “Unlike a traditional virtual tour, consumers can benefit by seamlessly walking through specific points of interests and experience the location as if they were "in-person," said Raphael Bennett, President of NeuStep. According to Jerry Cizek, president of the Chicago Auto Trade Association, “The Chicago Auto Show is the nation’s largest and kicks off the spring selling season for Chicagoland new-car dealers. As the producers of the show, it is important that we embrace new technologies because more and more consumers are starting their vehicle search online. The virtual walk-through was the logical extension of bringing the auto-show experience home to visitors at ChicagoAutoShow.com.” NeuStep Virtual Walk-through technology has taken visual media by storm and has become the most sought after interactive presentation to market events and facilities. "As the Web developer for the Chicago Auto Show, we worked closely with NeuStep on integrating their virtual walk-through technology on ChicagoAutoShow.com," said Mike Svanascini, COO of Americaneagle.com. "The finished product provided by NeuStep was easy to implement and proved to be a valuable interactive element for the auto show's site." The 100th Chicago Auto Show virtual walk-through presentations can be seen at www.chicagoautoshow.com.
NeuStep has been recognized as the enterprise leader in web-based virtual walk-through solutions and production. Unlike the previous standard of a 360 degree virtual tour, NeuStep's virtual walk-through enables the end user to seamlessly walk-through an existing space. For more information, please visit www.neustep.com or call 773-NEU-STEP.
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