Startups of the week #12.1

Geosocial and augmented reality apps seem to be all the rage at the moment, so is an app that combines the two a surefire winner?

1. Wallit

We've covered location-based apps and augmented reality (AR) before, but the potential for combining the two and doing something really interesting is untapped. Until now!

Berkeley, CA's Wallit is a new (free) iOS [iTunes] and Android app (that's due for release in the next few weeks) that allows users to leave a multimedia digital stamp on locations around the world – the digital equivalent of graffiti if you will. Users can leave messages (text, photo, audio or video) on pre-build virtual 'walls' at their location, and can also look at walls around the world. As their Twitter bio states:

Walls for Places. To write on friends Walls, there is Facebook. To write on places, there is Wallit.

The 6 person team have just closed a $1.2million round of funding and publicly launched in 50 countries yesterday. Wallit is planning on riding the iPad 3/ HD release hype by creating 326 walls at each of the Apple stores selling the new device – each of which will then feed into one 'superwall' (although we're not quite sure where this superwall will be).

Wallit plan to monetise by charging brands for digital ad-space, but these marketing deals are "still being finalised" so we're yet to see if it's a viable long-term model for scaling the business and generating sufficient revenue.

Considering we're in a world with finite physical space with which to advertise with, it's intriguing to see a company pitching an idea of using AR that could ultimately solve the problem.

If Wallit takes off, and there's no reason we can see that it won't, we may start being able to give locations physical character, or digital memory. But on the other hand, we may end up being bombarded with augmented reality adverts. Which is an interesting thought...