In-ride entertainment

'Cash cab' rideshare tech company expands services to Houston and Austin

Houston and Austin rideshare riders might soon walk away with some earnings — or at least some entertainment. Photo via playoctopus.com

Your next Lyft or Uber ride might win you some money. An interactive advertising and entertainment platform that works in rideshares has announced it will expand to the Houston and Austin markets — just in time for SXSW.

Maryland-based Play Octopus has already received thousands of applications from rideshare drivers wanting the device in their vehicles, according to a press release. And expanding to Houston was an obvious move.

"As the leading rideshare advertising company in the country, expanding into Texas' ride-sharing scene is a necessary first step as we expand outside of the Northeast. Austin and Houston are both tech-driven cities that rely on rideshare for convenient transportation," says Cherian Thomas, the co-founder and CEO of Play Octopus. "Digital video consumption and rideshare are both at all-time highs, and for brands, Octopus provides the ability to reach millions of rideshare passengers on a monthly basis."

The company has recently seen success from partnerships with the likes of Disney, Red Bull, Tiffany & Co., Sprint, National Geographic, and Weight Watchers in major Northeastern cities. Houston and Austin are just the start of Octopus' 2019 growth plans.

The way it works is the company provides free tablets to qualified drivers. Tablets come with a monthly data plan, a mount, the cables required, and up to $100 a month — not to mention the perks — like tips and ratings — that come with providing riders a new option for ride entertainment. On the other side of the table, advertisers have access to millions of monthly riders and can use branding and geo-targeting ads.

The company launched the platform on the East Coast about a year ago and is already in over 7,000 vehicles generating almost 10 million engagements a month. Currently, Octopus is in New York; Boston; Philadelphia; Washington, D.C.; Baltimore; and Richmond, Virginia.

"Our national expansion is being fueled by our brand and agency partners, and further solidifies the Octopus platform as a key component to media plans," says Dillon Tedesco, the chief revenue officer of Play Octopus. "As we surpass the 10,000,000 monthly engagement milestone and introduce exciting new ways to interact with our tablets, we're looking forward to providing our clients with a deeper impact in more cities across the country."

Millennials have brought in new, game-changing technologies into the housing market — for better or for worse. Photo courtesy of HAR

It's official – Millennials have arrived in the housing market, and they're expected to take it by storm. After spending the earlier part of the decade preferring to rent in hip urban areas, the entry of older Millennials now in their 30s is already impacting how tech and the real estate market coexist.

Like many industries that are traditionally people-facing, real estate has been slowly digitizing for many years. Most of the general public has used a variety of apps that help them search for available properties to buy or rent without talking to an agent. However, within the real estate industry itself, technology has expanded like wildfire in the past few years.

We see these changes most acutely in the services that influence our day-to-day operations:

  • Digital applications
  • Electronic documentation
  • Online income verification
  • Automated notaries
  • iBuyer
  • VR / AR home tours
  • Smart security services

These digital transformations have altered the way agents, title companies, and lenders conduct business. Real estate professionals have varying sentiments regarding the efficacy and role of technology in our industry. Recognizing the importance of erring on the side of caution is key, especially with the rise of wire fraud targeting the real estate sector, robo-signing, and the creation of questionable title transfers.

But these new technologies aren't going away. It's important to choose to focus your energy on recognizing and implementing key precautions regarding how technology is used, especially with the new buyer's processes.

For example, when it comes to wire fraud, we deploy simulated phishing tests to ensure that our employees are alert and aware to the new nefarious activities targeting our sector. Additionally, title agents hold the singular obligation to discover and evaluate faulty proceedings before a closing. This is why we take our duties seriously and meticulously research any unclear title issues that need resolution.

Millennials + Technology = Game-Changing Access to Knowledge

In the past, the title industry has operated mostly for realtors, lenders, and other real estate specialists. In fact, traditional homebuyers were unaware of the importance of their title insurance and property/ownership rights. However, the real estate industry has shifted with millennials entering the housing market. These consumers are more engaged with the ins and outs of the homebuying process because they're using technology as an opportunity to learn.

Thanks to these new plugged-in homebuyers, title agents must use technology to communicate with, educate, and simply keep up with their clients. The current state of the closing process is a cross between electronic and wet signatures. However, as homebuyers demand more digitization and states pass bills permitting cyber notarizations, title agents must actively adapt by building the groundwork to address those tech needs.

Millennials in the marketplace also demand more of the life-simplifying tech they use in the rest of their lives. While technology does streamline the process and allow clients access to more information (and on their terms), it should not take the "personal touch" out of the equation. This is why title agents and other members of the real estate community must pursue the happy medium between digitalization and personalization.

For most millennials, this is their first time buying a house, and many of them want someone by their side to walk them through the process. At Patten Title, our goal is to make the process clear, transparent, and convenient for people making one of the biggest financial decisions of their life.

The short-sighted among us will claim that technology will definitely sap that "personal touch" from the real estate relationship. We believe the opposite is true. Technology enhances the entire homebuying experience because it gives people-first agents the power to build strong relationships with truly engaged buyers.

The experienced title professionals at Patten Title couldn't be more excited by the promise of 2020. We are big fans of facing challenges head-on, from housing rates to technology, property developments, and more. This is a time when a forward-thinking real estate agent will thrive: by combining their willingness to adapt to change while ensuring standards are still met, they can strike the right balance of products, services, and skills that are both personable and tech-centric.

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Eric Fontanot is president at Houston-based Patten Title Co.