The service mines data from Twitter and extracts meaningful information found in users’ Q&As. It has received close to US$1 million in funding
WIV Labs, a data and social analytics startup from South Korea, announced on March 24, 2014 the beta launch of social Q&A service Qaster. The service collects and analyses data through a global Social Networking Service (SNS) search and extracts meaningful information found in users’ questions and answers from its archives.
According to Qaster, it is the only service to archive Q&As from the 500 million messages generated on Twitter daily, making them searchable on its website. It also makes useful Q&As accessible to users from its database and displays answers consecutively under the question in the original tweet.
Dongug Kim, CEO of WIV Labs, said that Qaster mines information based on conversations. Right now, it collects and shows informative Q&As, but they plan to create an improved content service that will provide that information in a structured and organised form for users. This means that the firm is likely to provide additional Big Data features in the future.
The programmers and data scientists that developed South Korea’s #2 search engine, Daum, are the founders of WIV Labs.
K Cube Ventures, South Korea’s leading early-stage venture capital firm, invested US$470,000 in WIV Labs in September 2013. Commenting on this Jimmy Rim, Founder and CEO of K Cube Ventures said that they made the decision to invest in WIV Labs before it even became incorporated because of the team’s strength and ability to solve the hardest technology problems.
South Korea’s Small & Medium Business Administration also invested US$470,000 in WIV Labs as part of its Global R&D Programme, a highly selective government investment programme that provides funds to technology-based companies that are creating innovations in the tech field.