The Budapest-based software development company, RECnGO has come up with an innovative solution – the team created an easy-to-use mobile streaming and recording software enabling real-time program production, broadcasting, and editing on mobile devices. With it, anyone can act as a one-person crew with a mobile device in their hands – instead of paying for costly studio productions. We talked to Gergely Szél, CEO of RECnGo about the journey to here, the challenges, and what to do when one encounters a challenging situation.
What is RECnGO? How are you different from other live streaming platforms, like Ustream?
RECnGO is a full live video studio on your mobile phone or tablet – available on iOS, Android, and Huawei devices. For quite some time now, if you wanted to do a live stream, you probably had to use multiple software (for example, Ustream, Streamyard, or others), but the setup was clunky and unstable: you needed computers, cables, cameras, and other equipment alongside the professionals who’ll operate these!
You could also use your mobile devices to stream or record. You open Youtube, Instagram, or Facebook and launch a live video in seconds. Still, these platforms are limited: you cannot insert your logo, a branded picture, or an expressive layer during your video, nor can you use multiple angles or cameras.
In 2016, we saw a significant change in the market – a visible shift to mobile productions. At the same time, we also noticed the limitations of available mobile technology supporting videography. The RECnGO app addresses both–it offers an affordable solution for those who’d prefer to use their mobile devices and the technology that’s on par with what a studio-quality production needs in 2022.
How did you start?
We’re video and tech fanatics, so we always kept an eager eye on how videography, cameras, and productions evolved.
Six years ago we felt there was no turning back and that mobile devices will be the future. Every year, the cameras on smart devices continue to improve, and their batteries last longer. No wonder social media and video platforms started to prefer live video.
In 2016 we got down to working out the basic concept for a live video studio, and when we were done, we formally started the company. In 2018, we got the first investment round, and in 2019, we launched our first product. Last year, we received our latest investment from Hiventures.
What are you up to at the moment?
We are currently in the scale-up phase – looking for new team members, and expanding to new markets.
Until now, we have been concentrating on the US and UK markets, but this month, we launched the RECnGO app at the Huawei AppGallery and thus opened up new opportunities.
That’s exciting. And what are your plans for the future?
We have a strict exit strategy, so if all goes according to our plans, the company will be sold in the next 5 years.
We’re confident that with the interest we’ve received so far (including offers on the table) we’ll be able to stick to our plan – but that’s all I can say for now.
That’s a busy schedule. Can you tell me more about how you overcome your challenges? What kind of challenges do you encounter?
Challenges never go away; they just morph into different ones. As we often say, if you see the same problem as the year before – you haven’t actually progressed.
For example, when we started the company, the biggest challenge was how to develop a product on the market and do it well. We didn’t want to develop something that didn’t fit. We made a point of finding the solution people want: we carefully researched the market, asked the right people, and did the development according to the feedback. We received valuable input from CEU iLab, the Reddit community, and many more contributors who offered their expertise.
The challenge today is to grow the team and go global. We started the company with only 5 people in Budapest, Hungary, and we continue to look for new hires who’ll bring their extensive international experience and help us enhance the product.
What would your advice be to those thinking of realizing a startup idea?
One of the most important ingredients of startup success is the right co-founder; you need a strong partnership. If you want to do it fast, you can go alone, but if you want to go further, you need an exceptional team. If you have outstanding teammates, you can create a superior product even in a noisy market.
You also must be honest with yourself: what you see in yourself, what you can do, and what you can’t… you have to be clear about your abilities because more often than not running a startup is not a joyride.
What do you do if you encounter a challenging situation?
Go outside for a run. Or do some other sports. It does wonders and brings on better decisions