The company’s CEO Alex Iskold revealed more details about the international expansion its new financing round will fund:
“International will inevitably lead us to the Spanish market in 2012. We’re also getting a strong push to do that from existing partners. That will be our next move: first in Latin America, and then Spanish-language channels in the U.S.”
We already reported on GetGlue’s fast-paced growth, but the company has recently reached a new milestone: its network now has 2 million users. Even more interestingly, those users are heavily engaged – the startup reportedly registered a whopping 100 million check-ins in 2011.
Yet, the Latin American market may not be an easy one for GetGlue to conquer. Not only will it face local competitors, such as the Argentine second-screen startup Comenta.TV, but it will also have to deal with the fact that Internet, smartphone and tablet penetration, albeit fast-growing, is still fairly limited. An iPhone app, for instance, would only reach a small percentage of the local population.
Of course, it may still make sense for major players to position themselves in this market in the near future. After all, there’s a good chance the region will soon become an attractive market for second-screen products. Both social networking and TV are particularly popular across Latin America; as for Internet and mobile devices, they are also becoming increasingly common. However, any player interested in this opportunity should be prepared to wait before seeing a return on their investment.