Do you have an idea how big companies like Google or Facebook make their money?
They do it by collection our own data. Yes, they get rich off of our backs. But the sad truth is not that we do not get to enjoy the money made from our information. The painful point is that we do not even know this is even happening. This is where Cocoon MDR™ comes into play and help us – the data providers – be the data owners.
Our cohort company, Virtual World Computing (VWC), is a data company that helps internet users make money from their online data. They have developed a first-to-market free app called Cocoon MDR™ that monetizes user data easily and without collecting our PII (Personally Identifiable Information).
This means that instead of giving away our user data for big companies for free, the users get paid for it – putting the power back in our hands.
How does it work?
Get paid to drive and earn cash easily on-the-go. Whether you drive across town or across the country, the Cocoon MDR™ app is an easy way to make money driving. Its 100% passive income, so no rideshares or deliveries are necessary to earn, just install the app on your phone and easily make money every day as you move around, since everywhere you go earns rewards. Even if you ride to school or work, walk through the mall, or bike through a park and you will get paid for sharing your geolocation data with Cocoon MDR™. Rewards are paid in cash with PayPal. Real money for doing nothing more than you already do.
How much can a user earn?
The earnings are limitless and depend on how much data you create. So, the more you drive and move around, the more you can earn. For example, if an average driver drives 15,000 miles a year, they could earn $150.00 or more on his geolocation data alone. Just think, if you are a truck driver who drives 100,000 miles a year, you could earn over $1000 dollars! Even more earnings are earned from browsing, so the potential is great. That’s real income for doing what you normally do.
Cocoon MDR™ has recently launched their crowdfunding campaign. The an initial raise is $20k and the round is open to $250k.
The company is also backed by Ex-Shark Tank Host, Kevin Harrington, who also promotes Cocoon MDR™ in its crowdfunding campaign page.
The CEO and founder, Jeff Bermant, answered our questions about his personal journey and his top business advice that made him successful.
Tell us a bit about yourself. Who are you Jeff and how did you become an entrepreneur?
My name is Jeff Bermant and I am the CEO and founder of Virtual World Computing. My entrepreneurial beginnings actually began in real estate in the 1980’s. With no money in my pocket but with an experienced partner. Together I built my first office building and made my first million dollars. After that I went on to build over 500 homes, and managed and owned some million sq. ft. of office and industrial space.
I decided in the Mid-2000’s I wanted to try something in the tech industry and got up with a cloud browser called Cocoon MDR™ which blocks viruses, and protects your privacy.
But you already owned a successful business. What made you go into a new industry and start a different entrepreneurial path?
Building the Cocoon MDR™ Browser gave me our idea for building what we have today which is a way for people to make money from your data. It dawned on me that it was difficult to make money in privacy without charging for it and there were plenty of VPNs available, but most of the good ones charged for it. As an entrepreneur, I realized what was missing. It was the way to make a profit from your own data. It sort of got under my skin that all these companies were profiting from users data and the user thought they were getting Internet connections for free. Well as they say, “if its free than you’re the product”. Saying all this, I realized that wouldn’t it be nice to be on the same side as the user where the user got to share the revenue instead of getting nothing for all that valuable data?
Any entrepreneurial journey is filled with challenges. Can you share with us some of the challenges you faced with Cocoon MDR™?
Many Challenges, the build for Android mobile was very challenging as different phones has different issues and there was a big learning curve with what Google allows you to send data. One of the challenges is all the different operation systems in Android, not many users update them. It’s not like Apple where 90% of users is on the latest operating system. Marketing is not our greatest challenge proven by the very low CAC cost. However, there is a challenge that users do not know they have value in their data.
Everybody is going through very challenging times right now. Were there any new challenges that rose during COVID that you did not face before?
No, we have not faced Covid-19 issues although lots of investors have vanished from the scene. But our business-development challenge was just getting mobile in place.
The Cocoon MDR™ team and advisors are very impressive. One of your advisors is Kevin Harrington, the “Shark” from the original Shark Tank TV show. What can you tell us about your team and about some of the things you are currently working on?
Our team is a focused group of people, we are always faced with challenges, bumps in the road. My team is constructed of the following. A CTO and a third party dedicated software team. We already need customer service with some 25,000 users especially in Beta when things are not working. Marketing is one of our strength, with Larry Speck. Lots of years of experience in mature marketing. Finding your market, doing the math of CAC versus revenue. Our strength also lays with experience in business, where you find wins and losses, the trick is turning potential losses into wins.
In your new crowdfunding campaign you are raising $25K. How are you going to use this money?
The money is to be spent on gaining more customers who bring the most value to the company. Value not only includes highest revenue, but also best LTV. Bringing on both quality of customers as well as numbers will allow us to sell more data to different buyers. IOS phone is the next big build along with gathering better data on our customers.
You obviously have a lot of experience in the startup space. What is your best business-development advice you can give other founders?
Problem solving is key to success. Keep asking questions along with persistence, get a team together that is dedicated to success.
On a similar note, what is your best fundraising advice you can give other founders?
Friends and family first, prove your model, show revenue, then move on to investors.
You have been through many things in life and the entrepreneurial path can often times get very discouraging. How do you keep at it and stay motivated?
The pursuit of goals that brings good to your company and clients. The quote I live by is: “If you can meet with triumph and disaster and treat those two imposters just the same.” Reading Bill Tilden’s book to take the good with the bad.
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You can find out more about Cocoon MDR™, their crowdfunding campaign and why they are going to be the next big thing in the link below: