This article was taken from the September 2011 issue of Wired magazine. Be the first to read Wired's articles in print before they're posted online, and get your hands on loads of additional content by subscribing online.
It can be a hassle topping up your mobile. But Nathan Eagle, a 34-year-old engineer and computer scientist at MIT and the Santa Fe Institute, wants to top up 2.1 billion of them -- by creating a means of paying people in developing countries through phone credit.
After spending time in Africa researching mobile apps, Eagle originally developed his txteagle software in 2008 to help people in low-income and rural parts of the developing world to earn a supplementary income. They earn small cash payments or airtime, credited to their mobile, in exchange for carrying out simple jobs on their phones, such as translation, transcription or surveying tasks. But now Eagle is tapping an even bigger revenue stream -- advertising. "We've pivoted completely. We are a market-research and advertising tech platform that enables global brands to reward emerging-market consumers with free airtime," he says.
Eagle's new venture, Jana, has already raised $10m (£6.2m) and secured deals with telecos across the globe. By telling firms what they think about a detergent brand, for example, registered users will receive airtime or coupons for free goods. More than $20bn is being poured into advertising in emerging economies. "All Jana is doing is diverting that money away from billboard owners and into the pockets of of consumers," says Eagle.
This article was originally published by WIRED UK
