Next Speech

iOS app for sale

$9,999 USD

Ended 23 days ago
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Newly-launched speech-to-text iOS app with built-in social network platform

Next Speech creates users' beautiful voice diary posts with voice memo capacity, its speech-to-text transcription (powered by Nuance’s Dragon© Naturally Speaking®) and its built-in social platform.

At a glance ?

Touch a value for a description

Downloads/month
45
App Age
10 months
Rating
App Store Price
Free
Reskin
No
Includes Source Code
Yes

Financials ?

No financial data has been provided for this app

Seller's Notes

*About the Seller

Name: Mai Le

Location: United Kingdom

The Next Speech app has won funding from the LSE Generate Funding competition in 2016 (See link) As I have raised funding for this app, I believe the app is fund-able and you shouldn't have any issues raising funding to grow this further.

Description of app

Next Speech is a native IOS app which enables the creation of beautiful voice diary posts with both voice memo and its associated speech-to-text transcription (speech to text technologies are powered by Nuance’s Dragon© Naturally Speaking® technologies). This app was developed for the Apple App Store and currently runs on iOS platform only. 

The app has the potential to expand to millions of users with a more extensive marketing capability under the new ownership; it can be marketed as a voice-based social media platform (Think Instagram, or Spotify, for voice memos)

The content management system is with to Backendless service, which enables the new owner to manage existing and future contents and users easily.

The storage of data on this app is sourced to Amazon Web Services which is top of the class in speed and at the same time, very cost efficient.

FEATURES:

- Speech-to-text transcription: You no longer have to type your diary
- Each post includes a custom picture, your voice memo and the automatic transcription. Your emotions each day are also fully captured through your voice
- Calendar view of your diary: You can find posts quickly on specific dates
- Hashtags function: You can create custom hashtags to organise your posts into categories
- Make your story public: Let other Next Speaker listen to you and listen to others’ stories! Join the Next Speaker community to speak, listen and interact with each other. Next Speech has its own proprietary social platform within the app, with Facebook native ads already built in for significant monetisation opportunity once scaled. 
- Favourite stories: You can favourite others’ stories or your stories for easy access later
- Geo-location tag: The diary can record your location - helpful when you record while attending events, travelling or on-the-go
- Reminder: Set daily reminder for your 5 minutes a day diary recording

SPECIFICATIONS:
- Next Speech currently supports speech-to-text in English and transcription of up to 5 minutes per post
- Speech-to-text technology requires connection to the internet (Through Wifi or 3G / EDGE)

What does the sale include?

The sale is for the iOS app and other auxiliary components such as websites, domain, social accounts and CMS. In particular, this sale includes the app in its full rights, its source code, Itunes account, the sale of the beautifully designed website nextspeech.com and its domain nextspeech.com, as well as other associated social account (Nextspeech on Facebook and @nextspeech on Twitter).

Does this sale include an Android version?

The sale is for the iOS app and auxilliary services only, as I have not explored the options of developing this on  Android. Given the achitecture of the code / app and the designs are already all made, I presume it wouldn't be as expensive as reinventing the wheel from scratch.

Why is the app being sold?

This is being sold as I have little capacity to market this app due to current highly demanding full-time work obligations; however, I firmly believe in its potential and have built it to highest specifications for rapid scaling opportunity. 

Are you going to reuse or resell the app’s design or source code after this sale? Does the sale come with all intellectual properties derived by or included in the construction of the app without royalties being paid now or in the future?

No, the new owner will receive all rights of the code, design and brand. All IPs are included in the sales, the app will be yours in its entirety with no royalties option. I also have legal docs signed by the developers who handed over all the rights to this product to me, and I can also sign documentation you may require to feel comfortable that the app is entirely yours. 

Would you consider selling a blind copy? i.e. I buy a copy of the app and use my on name etc. you still get to keep your app to see. I buy a blind copy and add my own name do my own site etc.

My intention is to have a clean exit from this app as I have no time to pursue it, so I would not be interested in continuing my ownership of the app. Whomever I sell this app to will want absolute rights over all the IPs, codes and data, so another replica of the app existing elsewhere will not be ideal for them. Therefore I will only consider an outright sale to one buyer only.

Is there anything like this on the market currently?

There is currently no social network platform for voices, or user-generated voice contents; which makes Next Speech a rare opportunity with limited competition.

Understanding the app is pre-revenue and no marketing effort has been launched, how much downloads have you got?

Currently by Feb 2017, the app is at 388 users which is approximately 45 users per month since launch. Please note this number is because I have not launched any ads or marketing effort since the app was live on the app store due to my current workload on the other full time job. 

Post Sale, will you provide post-sale support & training, in order to ensure that the buyer is able to fully take over the business and its operations? How long is the support period?

We’ll provide 30 days support period after the purchase date to answer all questions regarding the app and business plan. Regarding its code, the new owner will get the contacts of developers to enquire technical questions.

The code is sold as is on the sale date, with no further fixes or improvements.

Other Q&A on Product

>>> Who developed this?

The back-end of the app was developed by a developer on Upwork while I designed the UX myself.

>>> How were you planning on the Nuance's fees if the app went to thousands of users.

Nuance costs is currently free - The free tier applies to up to 20,000 transcriptions a month. Beyond that when you scale rapidly you can negotiate with them for a tailored deal that is pre-paid but could be a lot cheaper per user. Please see the pricing plans below from Nuance.
https://developer.nuance.com/public/index.php?task=memberServices

Once the app has scaled, you can opt for their Emerald package, which is a package where you'd negotiate with their sale staff for a fee cap on the unlimited use. According to a Nuance sale reps, "Custom pricing model is also possible with Emerald service level. The cost varies depending on the type of solution, on the scale, on the level of customization required, on the strategic value of the project and so on, but typically, the minimum financial commitment from the customer is $25,000." I would say once you scale up, they can definitely provide a pricing solution / cap that makes sense with the volume if you negotiate.

>>> In what ways were you thinking of marketing? How were you planning on monetizing the app?

On monetisation of the app, currently the app is free and pre-revenue to attract more users. The monetisation potential of this app is through three main channels. Channel (1) Adverts i.e. Facebook video ads showing in News Feed and as users browse through their own stories. This particular ad channel has an improved click-through rate if users log into Next Speech using their Facebook account, because the ads will be targeted and personalised to them . The Facebook native ads have already been incorporated in the built and currently appear on the public newsfeed. Channel (2) In-app purchase: A no-advertisement version of the app can be purchased for $1 or £0.69; or even the current version of the app could be sold at a price. At the moment, the app is offered for free; however you can always increase the price under the new ownership. Other long term channel, channel (3) which will require some feasibility study and further thoughts is to sell user voice data package: Once Next Speech has accumulated sufficient usages and users, we can sell anonymous customer voice data to companies and audio ads network for voice recognition analysis and R&D. The long run vision of the app is the unlimited potential of artificial intelligence (AI) study of the user voice library. The ultimate advantage of voice content over text or image content is that it contains rich information of human emotions. An example of AI study is to analyse customers’ emotion patterns using the sound frequency and voice pitches for the purpose of targeted advertising. 

The marketing for this app could be done through Facebook Install App Ads, Google Ads as well as featuring this app on app comparison websites or tech publications. All the downloads on the app are currently organic with no additional marketing effort ; unfortunately I have been recently promoted and could spare no time to focus on the marketing aspects. The app has won funding from the LSE Generate Funding competition, so I believe this proven idea is not difficult for you to raise further funding for it. (See link http://blogs.lse.ac.uk/careers/2016/05/31/what-its-like-to-win-funding-from-lse-generate-mai-le/) I am selling this app because I have full time work commitments and hope that the new ownership can fulfil the app potential that I firmly believe in.


>>> For the Facebook ads that you mentioned, how does Facebook pay the app owner? Also, what is the usual revenue from those ads? CPM?

Facebook native ads in this app is incorporated under the Facebook audience network - Please see their payout policy here https://developers.facebook.com/products/app-monetization/audience-network/ We have an account with them, so they'd pay us in the same policy as any other ads publisher. The ads usually appear once every 5 public posts, however the volume of these posts are low at this point due to small number of users hence the CPM and revenue data isn't available. To benchmark the CPM and revenue please read into Facebook Audience Network pay-out; I must say it's definitely the highest on the street (compared to Google / Apple) because native ads cannot be blocked by ad-blockers, nor ignored by users like banners, at the same time they create minimal or no disruption to user experiences. In addition many users log into the app via Facebook, therefore these ads are targeted to them by Facebook own algorithm.

>>> Is there any fees built into the platform that sets limits on use?

I understand you meant fees toward the users. Currently it is completely free to use the app just to gain more users/content, and I believe a social network should be free until you have gained a decent traction. (Same for why every popular social network we currently use is free). Of course you can change the app to a charged app once it becomes a strong content / social platform. 

>>> How does privacy option for the posts work in the platform? 


Privacy means the post is only visible to that user alone and no one else. This is for when users use their app as a daily voice diary and may want to keep some recordings to themselves. Public option is when the post can be seen by everyone. In this version, selected privacy / viewing permission is not available, which is because we have a limited number of users / content on the platform who are not acquainted to each other. Hearing others is also a way for people to feel more connected and follow each other. Think of this platform as an Instagram for voices but not a Facebook for voices - on Instagram you can view public contents from people who may not necessarily relate to you unlike Facebook, which improves retentions and also keeps the flow of information to endlessly flow. 

>>> When adding picture can you take live pictures from any event or is only a gallery set up or both?
Yes you can take live pictures from both camera as well as pre-shoot photos from gallery.

>>> Do you have any voice filtering added in platform?
No because it will interfere with speech recognition accuracy. I presume you can enquire Nuance if they do have such module built in (if you are emerald customer, you can have custom-made module built in by them)

>>> Do you have the ability to respond with a comment or tag a time on top of the calendar option?
You can like and comment on posts. The calendar view already has a timestamp on each post.

Please feel free to get in touch should you have further questions.

Comments

Noavatar
Benjamin Dul ( banned )
Sun, 18 Sep 2016 16:52:50 AEST

Has any revenue been drawn from this application? Also, can you please show video proof of downloads.

I am interested in this project, but am also confused where the social side comes in. I'm not seeing a way to search users posts. Also, if I were to purchase, I noticed there were some spelling errors and the like, could this be changed and put out as an update before it made it to my hands?

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Mai.Le ( new )
Mon, 19 Sep 2016 09:47:48 AEST

@Benjamin Dul No revenue has been drawn from this application. I'd record the video proof of the download next weekend when I am off full-time work; in the meantime a screenshot of the downloads is attached above ("App Download Number.png") . I took the 45 download per month as an average (159 downloads/ 3.5 months)

The social platform is in the "Listen" tab - users can make any posts of theirs public and let other people on the platform hear it as well as seeing the associated posts. On top of listening activities, other users can comment / like / favourite these posts within the app with the built-in social platform. The app therefore represents the same opportunity as an Instagram for voice memos (with transcription). This is a new, unexplored niche as there is no social network for voice-based content yet.

The search version is built in an older version of the app but was removed as we haven't got enough content to make it functional so this app won't come with search capabilities. I don't think it is mentioned anywhere in this ad that we have search function, or did you read that elsewhere?

And finally, absolutely, any typo will be put out as an update before it reaches you.

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aviben2626 ( | $725 )
Mon, 26 Sep 2016 03:22:00 AEST

Hello, how are you , do you have an android app ready ?

Noavatar
avil.z.soleiman ( suspended )
Mon, 05 Dec 2016 14:59:58 AEDT

how did you come up with this evaluation?

Noavatar
abnow ( | $43.4K )
Tue, 06 Dec 2016 00:47:06 AEDT

How much does it cost for nuance or other associated costs please

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Mai.Le ( new )
Fri, 30 Dec 2016 22:50:19 AEDT

@aviben2626 Only the iOS app was developed, there is no Android version. Please note this sale includes not only the iOS app and its CMS (backendless), but also the website, domain, Twitter account (1.2k followers) and other social accounts.

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Mai.Le ( new )
Fri, 30 Dec 2016 22:54:54 AEDT

@avil.z.soleiman $15k was how much it costs me to get the app, CMS and website developed and the limited maintenance cost since the app is launched. The asking price is negotiable; although the room for negotiation may be limited as I'm only asking for how much it costs me to develop the app and the website without making any profits on this sale. Any mark-down is direct loss to me. The only reason for me to bear this loss is because I have no time to devote to it since it was launched and wish for a clean exit to focus on my current investment banking job.

Px48x48 avatar 33f7a45b 6409 41ab a993 5b3f56637a38
Mai.Le ( new )
Fri, 30 Dec 2016 23:00:07 AEDT

@abnow The associated running costs to the app is limited. AWS and Backendless is <$75 a month. Nuance costs is currently free - The free tier applies to up to 20,000 transcriptions a month. Beyond that when you scale rapidly you can negotiate with them for a tailored deal that is pre-paid but could be a lot cheaper per user. Please see the pricing plans below from Nuance.

https://developer.nuance.com/public/index.php?task=memberServices

Besides, the app earns the Facebook ads revenue from increasing use. Facebook native ads in this app is natively incorporated in the user's feeds. The ad scheme is under the Facebook audience network - Please see their payout policy here https://developers.facebook.com/products/app-monetization/audience-network/ We have an account with them, so they'd pay us in the same policy as any other ads publisher. The ads usually appear once every 5 public posts, however the volume of these posts are low at this point due to small number of users hence the precise CPM and revenue data isn't available. To benchmark the CPM and revenue please read into Facebook Audience Network pay-out; I must say it's definitely the highest on the street (compared to Google / Apple) because native ads cannot be blocked by ad-blockers, nor ignored by users like banners, at the same time they create minimal or no disruption to user experiences. In addition many users log into the app via Facebook, therefore these ads are targeted to them by Facebook own algorithm.

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deebxx ( new )
Fri, 20 Jan 2017 10:25:49 AEDT

i can help u with sales if u want

Noavatar
Basics ( | $129 )
Tue, 24 Jan 2017 01:45:34 AEDT

could the search capabilities be reapplied and if so what would the costs be for this.

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Mai.Le ( new )
Wed, 25 Jan 2017 10:16:44 AEDT

@Basics We tried to install a search module in earlier version of the app but it didn't work / not functional because of the limited amount of data. The source code I have is the final version submitted to the app store which will not have this module as it was not functional at the time. I recommend only thinking about implementing search once you have a decent size userbase and content base. A simple, indexed/static data search as user search should not cost much (c.$200-300) but for dynamic data search (such as post data) the cost will depend on complexity. For example, Facebook started in 2004 but only have post search function in 2015, 11 years later, for the same reason. I'd suggest building up the content / user base first before thinking about adding more features, as the app are currently pretty functional and already more useful than an MVP.

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sunrizers ( | $13.3K )
Sun, 29 Jan 2017 21:33:45 AEDT

The valuation is a bit off. If you got funding then it's not your money to recoup. What adds a value to an app is 1. Revenue 2. Users 3. Download numbers 4. Then consideration of how long would it take to design and build this myself. But the first three points are main consideration and it looks like you have neither of them.

Also having used the app, it seems to have flopped as there's no real content or a feeling of being a social network. Don't get me wrong it looks nice but there's a lot to do on the UX. Lots of empty views that you have to self populate is a complete turn off. I don't want to have to work to hard to make my experience rich. I disagree that building up the content / userbase first because there's a reason users are not using the app. Building up good UX will naturally bring users that then brings content.

I'd happily buy this but at a value that covers my own cost to 1. Re-imagine the UX 2. Develop the new UX 3. Do a relaunch of the product 4. Market and advertise the app.

Let me know if you're willing to reduce your asking price dramatically and I'd happily jump on this ;-)

The seller deleted a comment from sunrizers ( | $13.3K )
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Mai.Le ( new )
Wed, 22 Feb 2017 19:20:36 AEDT

@sunrizers I deleted the other comment below as it was a duplica / accidental double posts of your previous comment.

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Terry Down ( site admin )
Fri, 03 Mar 2017 15:46:16 AEDT

Terry from Flippa here. 2 days to go on this listing. Price reduced for a quick sale. Get you 10K+ bids in ASAP!

The Seller
Px140x140 avatar 33f7a45b 6409 41ab a993 5b3f56637a38 Mai.Le Mai Le

new

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