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In a way, yes. But they do it in a "fancy" way. They raised $40m, so they MUST have some traction....

I mean if someone pitched that idea to me I'd probably laugh in their face, but I agree that you can't argue with that amount of funding. I guess I'm just really surprised that they've been as successful (at least in the funding world) as they are. No harm meant to them; clearly they understand their sphere of business much better than I do.

absolutely. Apparently, they offer free data in exchange for seeing ads. some people might dig that.

Also, fundraising success is different than actual business success.

Completely different case, but just look at Clinkle or Theranos. I'm not saying Unlockd is like that (I have zero info on that), just pointing out the fact that it is possibe.

I think there's a lot of markets that people from wealthy cities like SF or Melbourne don't really understand.

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