WIRED
Review: Waverly Labs Ambassador Interpreter
Waverly Labs
Building a World Without Language Barriers
Brooklyn, NY
Consumer Products
Waverly Labs develops voice and language products for teams and professionals designed to solve the language barriers in global business and commerce.
$125,172
raised
$3,160,366
previously crowdfunded
93
Investors
$42M
Valuation
$9.78
Price per Share
$489.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.2M
Offering Max
5
Days Left
Stack Owner's Bonus & Rewards!
Members get an extra 10% shares in addition to rewards below!
Rewards
Get rewarded for investing more into Waverly Labs:
$489+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
$1,000+
Investment
Tier 1
Invest $1,000+ and receive 50% off Ambassador. 50% off the retail price of one Ambassador Interpreter (cannot be combined with other discounts).
$2,500+
Investment
Tier 2
Invest $2,500+ and receive a Free Ambassador + 5% bonus shares.
$5,000+
Investment
Tier 3
Invest $5,000+ and receive a Free Ambassador + 10% bonus shares.
$10,000+
Investment
Tier 4
Invest $10,000+ and receive a Free Ambassador + 15% bonus shares.
$25,000+
Investment
Tier 5
Invest $25,000+ and receive a one free Ambassador, pro access to Audience, a Subtitles unit for your business or organization (when production begins) + 20% bonus shares.
OUR STORY
Disrupting the Translation Industry
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*The above product is still currently under development not yet available on the market.
Waverly Labs is at the cutting edge of interpretation technology with our patented hardware, intellectual property, algorithms, and brand recognition. We’re going after the $225B language industry (estimated by 2025) with our award winning products, and we’ve already sold 55,000 units worldwide and generated over $10MM in sales.
THE PROBLEM
Globalization And Global Economic Trends Are Changing The Language Industry
Globalization and global economic trends are changing the way people interact, communicate, and consume information, and billions are being spent each year to bridge the language barrier.
*The above product is still currently under development not yet available on the market.
In the U.S. alone, $23B is being spent on hiring bilingual individuals and professional interpreters to communicate in the commercial space, either on-site, through telephone, conference, or video remote. Such services are often delivered by specialist providers and organizations that focus on one or multiple interpreting modalities. Globally, the amount being spent on the Language Services and Technology market is estimated at $56B (Source, Source)
THE SOLUTION
Waverly Labs Develops In-Person Interpretation Tools for Teams and Professionals
*Audience and Subtitles are not yet available in the general market.
As experts in machine speech translation, the team has introduced a suite of solutions to solve in-person interpretation for teams and professionals across various industries including education, hospitality, business, and events.
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Ambassador Interpreter is an over-the-ear machine interpreter designed for professionals, and empowers you to have smooth conversations free from the constraints of language barriers.
*The above product is still currently under development not yet available on the market.
Audience empowers presenters to converse with anyone in the room, regardless of what language they speak and public beta testing is planned for June 2022.
*The above product is still currently under development not yet available on the market.
Subtitles is designed for hygienic, safe in-person interactions and public beta testing is planned for June 2022. With a two-sided screen providing real-time transcriptions and translations to each person on either side, Subtitles is the perfect solution for all customer service interactions.
THE MARKET
A $225 Billion Total Available Market by 2025
By 2025, an estimated $225B will be spent on the language industry, including an estimated $60B on global hiring for interpreter and bilingual professionals, $57B spent on other language services, such as document translation, localization for games and apps, and subtitling, and another $125B on the language learning industry. (Source, Source, Source)
Key Insights
The language industry continues growing as it responds to challenging requirements for traditional translation and interpreting. The sector grew in 2018 despite strong economic, political, global trade, and technological anxieties. The industry has long outperformed the general economy, largely because it reflects opportunities beyond domestic markets.
“The future for interpreting services may, however, take a different shape … —machine interpreting benefits from advances in MT and speech recognition, and will eventually create opportunities for vendors that can use it to capture new users. The low cost and immediate availability of machine-assisted or full-on machine interpreting will benefit lower-level interactions that may not require a professional or in-person interpreter.” (Source)
OUR TRACTION
96% YoY Revenue Growth from 2020 - 2021
Over $10MM in worldwide sales and $4MM in investment
We have tens of thousands of customers, sold over 55,000 units worldwide, generated more than $10M in Gross Revenues, raised $4MM in investment and have gleaned dozens of positive reviews of our product while receiving countless requests to distribute globally. We've also conducted partnership and B2B trials with major companies including: Hilton, Walmart, Disney, Amazon Fulfillment Centers, and many more.
2022 is Starting Strong
Not to mention:
- March 2022 vs March 2021: sales have grown 229%
- 2021 sales over 2020 sales from the same period have grown between 40% and 485%
- Partnership opportunities to distribute our products globally
- 31% growth of bulk orders and purchase orders from 2022 over 2021 as we begin tackling key sectors
THE BUSINESS MODEL
Hardware + Software Recurring Revenues
Our products are developed around SaaS (Software as a Service) and HardwareSaaS models. This allows us to distribute our translation solutions across various products while capturing one-time sales and recurring revenue through subscriptions.
With subscriptions, customers will be able to access deeper features custom-tailored for their professional environments, such as custom glossaries and shareable transcripts. This service will increase the lifetime value of our customers by capturing monthly recurring revenues. As unit sales climb, subscription revenues compound and increase our profit margin over the life of the customer, augmenting our sales forecasts and ability to generate healthy and consistent revenues.
*The above product is still currently under development not yet available on the market.
Currently, our products are priced from $149 - $1,995 USD depending on the hardware model, and roughly $4.99 - $99 for monthly subscriptions. A significant portion of our customer base consists of customers purchasing bulk orders, and by offering multiple solutions, we’re able to fulfill an organization’s full translation needs and maximize customer value.
HOW WE ARE DIFFERENT
We’re Making an Impact Across Industries
*These testimonials may not be representative of the experience of other customers and is not a guarantee of future performance or success.
Waverly Labs is one of the market leaders in developing interpretation and translation solutions for in-person experiences. We have an award winning brand, trademarks, patents, and an extensive community of customers and advocates.
- 400,000 community size of customers and subscribers who follow us on social media and email
- Patented Technology, Trademarks, and Trade Secrets
- Our technology works on both iOS and Android platforms
- Strong Brand Recognition among Customers, Press, and Media
- Positive Reviews of our products and services
THE VISION
We Are Waverly Labs
Inspired by personal experiences to connect across language barriers, Waverly Labs was founded in 2014 at the forefront of voice and language products. Between 2016–2020 we pioneered the world’s first translation earbuds, Pilot Smart Earbuds and Ambassador Interpreter, establishing the product category and shipping over 55,000 units worldwide and over $10MM in sales.
Now we’ve developed a full suite of voice and translation solutions engineered for professionals across various industries including education, hospitality, business, and events.
Our current team boasts over 30 years experience in the field of software engineering, speech translation technologies and wearable manufacturing.
WHY INVEST
A Letter From Our CEO
We started Waverly Labs out of a desire to solve a global challenge with our Pilot Smart Earbuds, and even though we knew we were working on something groundbreaking, we didn’t anticipate the level of love and support that we’ve received from our global community. It’s inspiring to know that so many people are just as passionate about breaking down language barriers as we are, and we’re thrilled to have touched so many lives.
Now with Ambassador Interpreter, Audience, and Subtitles, we realize a new evolution of what’s capable with our technology as we solve the language barrier for professionals and businesses alike. Our customers still send us stories every day about how they’ll use our products, like Jade who uses them on international film sets, and Wesley who runs conferences all over the world. Their support and encouragement are truly why we do this.
Bold (⌘B)
In the Press
ReadWrite
The Waverly Labs Ambassador Interpreter — Wow
TechCrunch
Waverly Labs’ new wearable translator arrives in April at $200
BBC News
A machine to break down all language barriers
Popular Science
This Earpiece Will Prevent You From Ever Being Lost In Translation Again
Offering Summary
Company | : | Waverly Labs Inc. |
Corporate Address | : | 19 Morris Avenue, Brooklyn, NY 11205 |
Offering Minimum | : | $9,995.16 |
Offering Maximum | : | $1,199,996.22 |
Minimum Investment Amount(per investor) | : | $489.00 |
Terms
Offering Type | : | Equity |
Security Name | : | Series C Common Stock |
Minimum Number of Shares Offered | : | 1,022 |
Maximum Number of Shares Offered | : | 122,699 |
Price per Share | : | $9.78 |
Pre-Money Valuation | : | $41,992,180.62 |
*Maximum number of shares offered subject to adjustment for bonus shares. See Bonus info below.
Time-Based:
Super Early Bird Bonus
Invest within the first 48 hours and receive 15% bonus shares.
Early Bird Bonus
Invest within the first 72 hours and receive 10% bonus shares.
Amount-Based:
Tier 1 | $1,000+
Invest $1,000+ and receive 50% off Ambassador. 50% off the retail price of one Ambassador Interpreter (cannot be combined with other discounts).
Tier 2 | $2,500+
Invest $2,500+ and receive a Free Ambassador + 5% bonus shares.
Tier 3 | $5,000+
Invest $5,000+ and receive a Free Ambassador + 10% bonus shares.
Tier 4 | $10,000+
Invest $10,000+ and receive a Free Ambassador + 15% bonus shares.
Tier 5 | $25,000+
Invest $25,000+ and receive a one free Ambassador, pro access to Audience, a Subtitles unit for your business or organization (when production begins) + 20% bonus shares.
Audience-Based:
Current Investor Bonus
Current investors receive 10% bonus shares for reinvesting in the company
*All perks occur when the offering is completed.
StartEngine OWNer’s Bonus:
The 10% StartEngine Owners’ Bonus
Waverly Labs Inc. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Series C Common Stock at $9.78 / share, you will receive 110 shares Series C Common Stock, meaning you'll own 110 shares for $978. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.
Investors will receive the highest single bonus they are eligible for among the bonuses based on the amount invested and time of offering elapsed (if any). Eligible investors will also receive the Owner’s Bonus and the Current Investor Bonus in addition to the aforementioned bonus.
Irregular Use of Proceeds
The Company will not incur any irregular use of proceeds.
Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$1,186,593.00
USD
$627,242.00
USD
Cash And Cash Equivalents
$614,968.00
USD
$136,408.00
USD
Accounts Receivable
$5,557.00
USD
$0.00
USD
Short Term Debt
$490,551.00
USD
$889,897.00
USD
Long Term Debt
$496,335.00
USD
$101,845.00
USD
Revenues And Sales
$832,033.00
USD
$423,312.00
USD
Costs Of Goods Sold
$631,479.00
USD
$348,510.00
USD
Taxes Paid
$0.00
USD
$0.00
USD
Net Income
-$1,246,760.00
USD
-$1,135,320.00
USD
Risks
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
Updates
Learn the Perks of Becoming an Early Investor!
1 day ago
Globalization and global economic trends are drastically changing the language industry. The way people interact, communicate, and consume information across language divides adds up to $60 billion spent annually on professional interpreters.
The language industry is growing at a rate to reach $225B per year by 2025.
Waverly Labs develops cutting edge interpretation technology for effortless communication, combining our patented hardware, intellectual property, and algorithms together for seamless translations.
We have customers, partnerships, and trial relationships with companies like Hilton, Walmart, and Amazon Fulfillment Centers for major B2B testing.
Some top reasons to invest are:
Over $10M in gross revenues
Over $4M raised from 3,500+ investors
96% YoY growth from 2020-2021
229% growth in sales from March 2021 - March 2022
31% growth in bulk orders from 2021-2022
Our translation technology has also been highlighted by such publications as Popular Science, BBC News, TechCrunch, Readwrite, and Wired!
Your early support grants you:
$489+ Investment - Eligible for the StartEngine Owner’s 10% Bonus program
$1,000+ Investment - 50% off Ambassador
$2,500+ Investment - 5% bonus shares + Free Ambassador
$5,000+ Investment - 10% bonus shares + Free Ambassador
$10,000+ Investment - 15% bonus shares + Free Ambassador
$25,000+ Investment - 20% bonus shares + Free Ambassador + Pro access to Audience (subtitles unit)
We need the continued support of our investor community to continue developing the latest translation technology. Together we can build a world free from language barriers!
Visit our raise page on StartEngine to read more about the perks of becoming an early investor! Please share with your network!
Warmly,
Andrew Ochoa
Now could be a great time to invest in this potentially groundbreaking technology!
11 days ago
Now could be a great time to invest in this potentially groundbreaking technology! As we expand our company and expand our clientele, the Ambassador utilizes speech recognition and machine learning technology to increase the accuracy and speed of translations.
In the increasingly networked global market, being able to efficiently communicate with business partners from around the world is more than helpful: it’s necessary. We hope the Ambassador can be the solution for people.
This innovative earbud is able to fluidly translate 20 languages and over 40 dialects effortlessly, eliminating the need to hire a translator. People everywhere can now have access to instant translations to effortlessly communicate efficiently.
Waverly Labs created the first earbud translators, and continues to develop new technology to stay ahead of the competition. Ambassador is still leading the way in earbud translators, having sold over 50,000 units and made more than $10 million in profits.
This comfortable earbud has 3 settings carefully calibrated for different situations:
The Listen setting is perfect for both interpreters and casual conversation. This setting picks up speech within 8 feet / 2.5 meters and seamlessly translates it into your chosen language.
The Lecture setting works great for group conversations or conferences. Ambassador connects via Bluetooth to your smartphone, and can also be paired with audio systems to be heard by a large audience, allowing you to speak freely while being translated instantly.
The Converse setting allows you to directly share one of your Ambassador units with others so you both can communicate in your native languages. You can pair up to 4 units directly to your smartphone to make day-to-day conversations feel fluid and natural.
Check out our raise page to learn more about the growth we've seen by Waverly Labs since the Ambassador was released. Read more about the potential investment opportunities when partnering with Waverly Labs.
Warmly,
Andrew Ochoa
Bridging global communication by building a world without language barriers!
16 days ago
Hello,
Waverly Labs is proud to introduce the device that we believe will completely disrupt the world of translation! Our expert team of software engineers combined the latest translation technology with speech recognition software and machine learning to create the Ambassador translation earbud. Our Ambassador gives you the ability to instantly understand those around you, regardless of language barriers!
The Ambassador earbud has already been featured in such publications as TechCrunch, CBS, Forbes, BBC, Wired, USA Today, and CNet!
Hiring a translator is not always an affordable option. The Ambassador earbud is small enough to carry in your pocket, and its ergonomic shape fits comfortably through even the longest meetings. Ambassador instantly translates up to 20 languages in over 40 dialects, cross checking with other translation tools to ensure accuracy. Choose from 3 settings to deliver professional grade translation.
Listen - Perfect for interpreters or casual conversation. Ambassador can seamlessly translate speech within 8 feet / 2.5 meters.
Lecture - Best for communicating with a large audience, such as group conversations or conferences. You can also pair Ambassador to audio systems.
Converse - Connect up to 4 Ambassador units wirelessly to your smartphone to translate fluidly and instantly.
Our team combined high fidelity speech recognition software, advanced microphone array, and signal processing algorithms to record speech accurately and create a truly smooth experience. It has 2 microphones for higher accuracy, a mic array for voice capturing, and LED visual feedback for translations. With 2 units per package and up to 4 hours of battery life, you’ll soon see why Ambassador is one of the most trusted earbud translator on the market today!
Learn more about The Ambassador by visiting our raise page!
Warmly,
Andrew Ochoa
CEO
Waverly Labs
Waverly Labs hits $125K on StartEngine!
20 days ago
Waverly Labs Community,
Thanks to our community of early investors, Waverly Labs has just surpassed the $125,000 milestone in our equity crowdfunding journey.
Waverly Labs is building a world without language barriers.
If you'd like to join our growing list of early shareholders, we encourage you to visit our StartEngine raise page today.
Once again, on behalf of the Waverly Labs executive team, we thank you for your continued support.
Warmly,
Andrew Ochoa
The Last Early Bird Bonus Expires in Under 24 Hours!
23 days agoIn Under 24 hours, our final early bird bonus is expiring for new and current investors, which means you can receive bonus shares up to 20% (based on qualifying perk stacking, please review terms section). The Early Bird Bonus is our last early bird bonus, so don't wait!
By now you know that we launched our spring 2022 investment offering roughly 48 hours ago, and you already read that in 2021 we achieved 96% YoY revenue growth over 2020, increased our gross profit by 168%, and have seen a significant increase in bulk sales and purchase orders in 2022 as we find strong interest from a key sector (hint: see the image below).
On the heels of our strong 2021 metrics, this capital will be used to scale our newest products, Audience, and Subtitles, designed to complement the Ambassador Interpreter and provide a wholistic solution to in-person interpretation as we disrupt the $225B language industry.
Over the next few days and weeks we'll be sharing news, updates, and other metrics that you'll be happy to hear about. Thank you for joining us on this journey. It’s inspiring to know that so many people are just as passionate about breaking down language barriers as we are.
Sincerely,
Waverly Labs Team
Super Early Bird Bonus Expires in Less Than 24 Hours!
24 days agoFor the remaining 24 hours only, we have our special investment offer for new and current investors to receive bonus shares up to 25% (based on qualifying perk stacking, please review terms section). The Super Early Bird Bonus is only for a limited time and that's it!
Don't miss your chance to invest in the company changing the language industry. We just introduced our newest products, Audience, and Subtitles, which have already received interest from customers and press, and as we begin scaling them alongside our award winning Ambassador Interpreter, we're making this offering available for a limited time.
Thank you for joining us on this journey to break down language barriers.
Sincerely,
Waverly Labs Team
Waverly Labs - 2022 Investment Offering is Now Live!
25 days agoWe are very proud to announce that our 2022 investment offering just launched on StartEngine!
Many of you are quite familiar with we've accomplished in the past year, including 96% YoY revenue growth from 2020 to 2021, 31% growth of bulk sales and purchase orders from 2022 over 2021 as we begin tackling key B2B and educational sectors, and other key metrics. 2022 is off to a great start!
With this capital we'll begin scaling our newest products, Audience, and Subtitles, designed to complement the Ambassador Interpreter and provide a wholistic solution to in-person interpretation as we disrupt the $225B language industry. And as an added bonus, we have a special bonus for investments made in the first 48-72 hours, including a Super Early Bird Bonus that qualifies investors for 15% - 25% bonus shares, depending on their status.
It’s inspiring to know that so many people are just as passionate about breaking down language barriers as we are, and we’re thrilled to have touched so many lives.
Sincerely,
Waverly Labs Team
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