NEW YORK, NY / ACCESSWIRE / February 18, 2020 / In an age of constant disruption and global challenges, the world needs innovators and leaders to take charge. One of those disruptors is Kiran Panesar, an extraordinary creator, and inventor of modern technology solutions. You may not know his name, but you have probably used his technology.
At the age of 25, he has become a prodigy of his time, bringing a wealth of experience in technology, leadership, recruiting, innovation, and entrepreneurship to the world of media streaming. Panesar's latest creation, Current Media, has changed how advertising companies use media on a daily basis to increase their own revenue streams and have also given back to the consumers who use his technology.
Current Media's app (available on Android and iOS) rewards users for listening to 100,000+ music stations globally. "With Current, people earn money for their daily habits, such as getting paid for simply unlocking their phones," Panesar describes. The app further allows listeners to gain back control of their personal data and even profit against a system that has repeatedly misused, leaked, and sold without each individual's consent. "Our mission is to reward people for their data and attention, where most products profit from it without consent or compensation," Panesar continues. By giving users a cut of revenues, he found that Current develops trust with the consumer and further motivates them to engage in even higher-paying opportunities over time, giving them more reasons to continue to engage with the app.
But, with growth comes problems. "When Current started seeing natural product-market fit, we had thousands of people abusing the system. So, I had to react quickly to identify and prevent specific exploitative behavior," says Panesar. By creating innovative, industry-leading systems to more accurately measure, evaluate, and reward good user behavior, the technology behind the app is able to detect if users are abusing the product and if so, reduces their incentives. "This adjustment saved Current from losing thousands of dollars and allowed us to pay out over $120,000 to real people, not fraudsters," says Panesar.
Like most of his projects, Current Media is the first of its kind in the industry. Panesar employs a unique business model that has successfully aligned valued users, advertisers, and platforms.
To date, Current Media has reached more than 2.5 million users and employs over 30 people. Panesar and his team are responsible for raising over $36 million through an SEC-registered RegD/RegS Initial Coin Offer that attracts more than 200 investors globally. He also counts noted entrepreneur Mark Cuban as one of the company's first equity investors.
Panesar's success stems from his ability to see past the status quo in order to implement positive change. This honorable characteristic, coupled with his expertise in engineering, allows him to find critical vulnerabilities and solutions to some of the largest consumer apps worldwide.
Panesar's original concept for an innovative media start-up began in his bedroom when he was 16 years old. By the time he turned 18, he was leading companies that generated millions of dollars in revenue. One of those companies was the celebrity content website, Pairade. Since its debut, Pairade has ranked in the Top 200 highest trafficked websites in the U.S. and made the list of Top 1000 websites worldwide in 2018 within months of its launch. Further, Pairade's blog received more traffic than most popular news organizations.
During its implementation, Panesar focused on development and infrastructure, which kept the platform working efficiently for a fraction of the cost of its competitors. On his website, Panesar brought in over 100 million monthly page views. Pairade was responsible for further monetizing the digital following of some of the largest influencers and celebrities in the world, including the Kardashians, Snoop Dogg, 50 Cent, and more.
But his success doesn't end there, Panesar also led the release and development of several apps that have ranked among the Top 10 in the iTunes App Store, with quite a few trending worldwide on platforms such as YouTube, Twitter, and Instagram. This includes major names and partnerships with the likes of Instaliker, Celebrity Street Fight, Instakey, Wakaville, and Urban Pictionary. As luck would have it, this venture turned out to be the beginning step to founding MobileX Labs, now better known as Current Media.
Many will start fast, but Kiran Panesar is one of the few who will finish strong. Like how he breaks boundaries to empower and disrupts mobile technology, he also made his own walls down and made himself available to anyone who shares the same passion as he does. You can email him at [email protected] or phone him through (331) 308-2575.
SOURCE: Kiran Panesar