Founded in August 2007 and with a staff of seven, iGlue calls itself "the superglue of the net" – and aims to be the future envy of Google.
Indexing internet pages (ring any bells?), iGlue uses technology to understand the semantic use of words and delivers related information based on text highlighted by the user.
Peter Vasko, chief executive of the three-year-old company behind iGlue In4 Kft, tells us his ambitions upon next month's launch – and reveals its closest competitor is owned by the Mountain View internet monolith Google. Peter Vasko, chief executive of the company behind iGlue, aims to have his product on every browser on the internet
• How are you funded?
"In4 Kft. [the company behind iGlue] specialises in the development of online applications based on university researches, with the participation of young university researchers. We are VC funded by Power of the Dream Ventures."
• How many users do you have now, and what's your target within
"We launch in September 2010. In 12 months we want 250,000 users."
• Explain your business to my Mum.
"Imagine you're reading an article about the recession on bbc.co.uk. Maybe you want to know more about a person or place in the article. iGlue is a little box in your internet window that lets you double click any word on any web page to learn more about it. It will give you info, maps, links, videos, images and more right there without trawling round the internet for ages."
• How does that work?
"iGlue indexes the internet but it also understands the meaning of words. So when you search 'Kennedy' it can figure out from the article if you mean politician, airport or space station. It organises info and sorts the web, therefore 'wikifying' it in the process."
• How do you make money?
"We know that search traffic is one of the most valuable commodities on the web and we believe that we can get a chunk of that. By understanding our customers more deeply we will be able to provide a discreet and effective advertising model."
• How are you surviving the downturn?
"We have received our next round of funding and we are not focusing on our public launch in September so we're happy and busy."
• What's your background?
"Web developer, researcher but also a journalist, poet and a teacher. Either way, I always look for the spot from where the view on the world is the most exciting."
• What makes your business unique?
"IGlue completely changes people's interaction with online content. We provide a huge dynamic layer of content underneath any text on the web."
• What has been your biggest achievement or proudest moment so far?
"Without a doubt Geek'n Rolla 2010, organised by TechCrunch. Not just because of the second place, but we were amazed by the buzz around us during the public demo of iGlue in the exhibition room. After the conference, even the tech and hotel staff wanted to try it!"
• Who in the tech business inspires you?
"John von Neumann, Ted Nelson, Steve Wozniak."
• What's your biggest challenge?
"Since iGlue is Hungarian and based in Budapest, it's harder for us to compete with US companies vying for the attention of VC and press who are based across the Atlantic – but we're working on it!"
• What's the most important piece of software or web tool that you use each
• Name your closest competitors.
"Apture, Open Calais, Freebase (Google), Evri."
• Where do you want the company to be in five years?
"In every web browser on the internet."
• Sell to Google, or be bigger than Google?
"Neither. Although we believe that we are building a product that will revolutionise the way people browse and experience the web. We really admire all the innovative hard work the guys at Google do. We would love to be in a position Google envies."