Young entrepreneur's app will allow shops to message customers in store
PAT Leddy (26), from Rush, Co Dublin, has had his share of failures, but now he's a self-made millionaire.
After starting out with only €100 in his back pocket a few years ago, Mr Leddy is launching Pulsade, a new tool for businesses which he says "will change the way they think".
Pulsade is a 'contextual marketing tool' which tracks customers inside a store or business, and tells owners exactly how these customers are behaving.
"Basically, the business can know if their product is being picked up, or if a customer is putting the product down and walking away," Mr Leddy said.
"As the customer is walking away an ad can flash up on their phone and tell them that there's an offer on the product, like 20pc off the bag they've just walked away from, for example."
Mr Leddy has designed a Pulsade beacon which is a highly sensitive device and can communicate with consumers' phones. It can be employed by a department store or supermarket, for example.
These businesses will be able to promote their brands live to customers that are browsing within their 'geofence' (inside their store).
"No one in the world is doing this. We've put everything we have into this. We're getting trial customers on board while it's in testing mode," he said.
Mr Leddy is expecting to attract huge interest from experts in Silicon Valley, and a lot of investment for his app which he estimates will generate €36m in five years.
Before Pulsade, he developed Furious Tribe, an app development company that is now worth €1m in turnover.
But by his own admission, the entrepreneur has had his fair share of hits and misses.
"I've said 'I can't do this anymore' but then I always thought: 'Yes you can, you're not going to pack this in'."
One particular low point was when a business failed and he lost money, as his idea never managed to get off the ground.
"I did an app for production companies to help them track their productions and their crew, but it wasn't very good basically, and it flopped.
"I lost money I had put into it and I had been working on it for a year – but I didn't take it personally, and I told myself just to move on."
Mr Leddy is brimming with ideas and believes that Pulsade is about to change the shopping experience.