>> WELCOME BACK TO WAKE UP WITH
CHEDDAR LOCAL LOGIC
CANADA-BASED LOCATION
INTELLIGENCE PLATFORM HAS
RAISED
ABOUT 6 MILLION DOLLARS IN
SERIES A FUNDING, THE COMPANY
PROVIDES LOCATION INSIGHTS FOR
HOMEBUYERS REAL ESTATE
PROFESSIONALS AND DEVELOPERS.
VINCENT CHARLES HOTTER IS THE
COLD FOUNDER AND CEO AT LOCAL
LOGIC AND JOINS US NOW
NOW BEFORE WE GET YOUR LATEST
FUNDING ROUND CAN YOU TELL US A
BIT ABOUT YOUR COMPANY HOW DOES
IT WORK.
>> SURE YEAH SO WHAT WE DO IS
ESSENTIALLY SCORE EVERY SINGLE
HOUR TRACKS IN THE U.S. AND
CANADA ON A SERIES OF DIFFERENT
FACTORS GOING FROM NOISE LEVEL
ACCESS TO NOTES TRANSPORTATION
TO GROCERY STORES SCHOOLS.
ESSENTIALLY WE WANT TO
GIVE CONSUMERS A FULL OVERVIEW
OF WHAT IT'S LIKE TO LIVE IN A
CERTAIN LOCATION AND HOPING
THEY CAN ACISION
TO FIND THE PLACE THAT SUITS
THEM THAT'S ACCORDING TO THE
LET'S
STOP IT.
>> OR WHAT ARE SOME OF THE
FACTORS THAT PEOPLE ESPECIALLY
IN THE MIDDLE OF THE PANDEMIC
ARE LOOKING FOR RIGHT NOW.
>> THIS IS SUPER INTERESTING TO
SEE AS THE PANDEMIC STARTED WE
REALLY SAW TRENDS CHANGE IN
TERMS OF WHAT PEOPLE WERE JUST
THAT. ONE OF THE MAJOR TRENDS
THAT WE SAW I WAS
IN UTAH.
>> SO UNSURPRISINGLY PEOPLE
THAT WE'RE TALKING FOR NEW HOME
WILL RE LOOKING A LITTLE BIT
FURTHER AWAY FROM THEIR THEIR
WORK AS THEY
WERE BEFORE. SO WE SAW COMMUTE
INCREASE UP TO 20 TO 30%
A REGION WHERE WE'RE LOOKING AT
WHICH REALLY INDICATES THAT
PEOPLE ARE SAYING WELL MAYBE
ITS WORK FROM HOME THING IS
GOING TO BE IS GOING TO STAY
AND WORK. WE'RE WILLING TO
COMMUTE A LITTLE BIT LONGER,
BUT IT IS THAT WE'RE GOING TO
WORK MAYBE WE GET A LARGER
HOUSE, BUT IT'S AN
EXTRA BEDROOM. PEOPLE TO WORK
FROM HOME OR
WORK SESSION.
>> IT'S SO BECAUSE OF COURSE
YOU KNOW IN 6 MONTHS FROM NOW
THAT MIGHT CHANGE.
>> A FASCINATING WHERE DO YOU
GET YOUR WHERE DO YOU PUT YOUR
DATA FROM.
>> WE HAVE ABOUT 500 DIFFERENT
SOURCES OF GOING FROM OPEN DATA
SETS AT THE
MUNICIPAL STATE. LEVEL ALL THE
WAY TO BE THERE THAT WE
ACTUALLY PRODUCE OURSELVES
EITHER INJURY PULLING IT FROM
DIFFERENT SOURCES AND COMBINING
IT TO MAKE SOMETHING THAT MAKES
SENSE. I THINK ONE OF THE
BIGGEST CHALLENGES IS THAT
CONSUMERS DON'T WANT YOU KNOW
WE WANT MORE THAN 61 MORE
ACTIONABLE.
>> IT CITES THAT REALLY HELPS
THEM MAKE A DECISION THAT
SCHOOL WHERE THEY SHOULD LIVE
WHERE THEY SHOULD PASS WHAT WE
SHOULD BUILD OCCURRED.
AND WHERE WE WE
REALLY DID FRENCHY 8 YOU KNOW
COMBINING DIFFERENT DATA SETS
INTO THERE'S ACTIONABLE
INSIGHTS THAT HELP THEM DRIVE
A DECISION. THAT DIFFERENTIATES
FROM FROM THE COMPETITION OR
AND DEPARTMENT THAT HIDDEN THAT
OTHERWISE THEY WIN THE FANS.
>> SO YOU HAVE ALL THIS NEW
FUNDING WHAT HE PLANNED TO DO
WITH IT.
>> I THINK THE FIRST OFF WE'LL
BE GROWING THE AND THE REASON
IS THAT WE'RE RELEASING OIL
FROM THE OF YOU KNOW WE WERE
MOSTLY SERVICING. CONSUMERS ARE
REAL PROFESSIONALS NOW WANT
MORE AND MORE DATA BE A REAL
ESTATE AGENTS, REAL ESTATE,
INVESTORS DEVELOPERS. YOU
REALLY WANT TO A WAY OF
CONTROLLING THE RESPECT HER AND
NYQUIST THROUGH DATA AND
INSIGHTS AND SO WE'RE LOOKING
TO ADD MORE INDEX INSIGHTS TO
OUR OUR OUR
OUR TOOLS TO DO THAT WE NEED
MORE SO WE WERE ABLE TO FUNDING
REALLY AWESOME
BUT HOW ABOUT PROSPECT
EXPERIENCE AND WILL BE ABLE TO
FOR MONEY BUT RELATIONSHIPS AND
PARTNERSHIPS COMING COMING
MONTHS.
>> WE ALWAYS YOUR LOCATION
LOCATION LOCATION. HOW
IMPORTANT IS LOCATION WHEN IT
COMES TO REAL ESTATE.
>> I THINK IT'S THE NUMBER
ONE A LOT OF FOCUS HAS BEEN PUT
ON YOU KNOW EVERYTHING THAT'S
INSIDE OF THAT OR THE WHITE
HOUSE STAFF. ULTIMATELY WHEN WE
LOOK AT THE DRIVER SAYS VALUE
IN
REAL ESTATE THAT ALL A LARGE
PROPORTION OF THAT VALUE IS
DETERMINED BY THE AMENITIES
NEXT STORY, IT'S THE LIFESTYLE
A PULSE. RACE WITH SCHOOL ARE
YOU AND WHERE YOU ARE
KIDS GO TO SCHOOL WHERE YOU'RE
GOING TO SHOP FOR GROCERIES.
HOW EASY IS IT TO GET
TO WORK WHAT KINDS OF MOVES
THAT RATIFICATION OF YOU WILL
BE ABLE TO
YOU SO WHAT WE'RE REALLY
INTERESTED IN IS SAYING WILL I
WAS SUCH CITY CHIC. THE DRIVERS
ABOUT IN THE REAL
ESTATE MARKET AND YOU KNOW
WE'RE TOO URBAN PLANNER TURNING
TO SCIENTISTS WHO ARE REALLY
REALLY INTERESTING BY THE
DYNAMICS OF THE CITY AND HOW
THAT RELATES TO PULSE AND WE
THINK
THAT THERE'S AND THE VALUE TO
TO BE UNCOVERED BY REALLY
INVESTIGATING FURTHER EXACTLY
WHAT ABOUT A LOCATION MAKES IT
SO INTERESTING RIGHT AND HOW
CAN WE TRANSLATE BACK INTO THIS
FEELING THAT WE HAVE WHEN WE
STAND OUTSIDE OF HER 3 OF OUR
POWS I MENTION THAT TODAY,
BUT A LOT OF JUST UNDER 2 AND A
BIG FOR SALE THAT'S REALLY WHAT
WE'RE TRYING TO DO
HERE WATCHING.
>> CURIOUS WHAT YOU THINK ABOUT
JUST THIS TREND OF PEOPLE
MOVING OUT THE CITY'S AT LEAST
HERE IN THE U.S. WE'RE SEEING
I'VE PEOPLE FLOCKING FROM
FORMING NEW YORK CITY AND GO IN
THE SUBURBS ARE JUST OTHER
PLACES AROUND
THE COUNTRY.
>> OUR CITY'S DEAD OR DO YOU
THINK THAT THAT'S KIND OF OVER
DON.
>> I THINK IT'S A LITTLE
BIT OVERDONE I REMEMBER READING
A BEGINNING TO THE PANDEMIC
ARTICLES ABOUT THE GREAT
MIGRATION AND HOW ESSENTIALLY
EVERYBODY WAS DONE WITHOUT THE
CITY'S I THINK SOME PEOPLE KIND
OF ROLE REPLANTED TO DO SO AND
THIS WAS THE CATALYST THAT
DOING IT. AND FINALLY IF I
COULD FIND THE SUBURBS ARE FOR
THEIR WAY I THINK SOME PEOPLE
ARE GOING TO MOVE OUT, BUT I
DOUBT THAT THIS THIS IS GOING
TO BE A
HUGE SHIFT AND I'M GLAD I THINK
YOU KNOW THERE'S A REASON WHY
PEOPLE LOVE CITIES.
MAYBE SOME OF THOSE BARS AND
RESTAURANTS ARE CLOSED DOWN IN
CERTAIN AREAS THEY'RE GOING TO
REOPEN AND I THINK THE ALLIED
LEADERS, IT'S THE VIBRANCY OF
AN URBAN CENTERS THAT SAY AND
THAT'S THE TRACKS THAT SHORT
PEOPLE
AND SO I A LOT OF THE TRENDS
THAT WE'RE SEEING ARE GOING TO
BE SHORT TERM OTHERS PROBABLY
GOING TO BE SOME STUFF
THAT STAYS EMPLOYERS DECIDE TO
ALLOW WORKING FROM HOME AND
THIS BECOMES A THING
LONG TERM THAT'S FOR SURE GOING
TO CHANGE HOW ARE CITIES ARE
BUILT AND HOW I WILL TRACK TO
BE OUR TO TO TO THE
WORKING CLASS AND SO I IT'S
REALLY GOING TO BE INTERESTING
TO SEE WHAT
WE'RE VERY VERY CAUTIOUS WHEN
WE'RE LOOKING AT TRENDS ABOUT
YOU KNOW.
THIS IS NOT GOING TO BE A
LONG-TERM AND THERE'S ANY
CERTAIN ELEMENTS THAT OUTSET
THAT DON'T. WE JUST DON'T KNOW
YET EXACTLY WHAT THE FUTURE
HOLDS SO IT'S FUNNY I RECENTLY
>> HOUSE AND I WENT IN PERSON
AND I WENT TO THE AREA AND IT
WAS REALLY FAMILIAR WITH THE
AREA. SO I
DIDN'T NEED IT'S A TOOL LIKE
YOURS, BUT I IMAGINE THAT ARE
YOU SEEING A LOT OF PEOPLE AT
THIS POINT AND WE'VE HEARD
STORIES OF IT AND PEOPLE JUST
BUYING HOUSES
SIGHT UNSEEN IS THAT WHERE
LOCAL LOGIC REALLY COMES INTO
PLAY.
>> I THINK SO I THINK IT'S IT'S
PEOPLE THAT ARE GOING AND
MOVING TO A DIFFERENT CITY OR
MAYBE LESS ANOTHER NEIGHBORHOOD
BACK I ALSO
WHAT WEEK WE DO SEE ARE PEOPLE
THAT ARE REALLY FAMILIAR WITH
THE SECOND KNOW YOU MIGHT
IDENTIFY 2 OR 3 NEIGHBORHOOD
SAID YOU'RE INTERESTED IN IT AS
HOME BUYER. BUT YOU DON'T
REALLY KNOW ALL THE STREET
TRADE AND YOU KNOW ONE OF THE
POINTS THAT WE IT'S ALWAYS
LEVEL SAYING WELL, WHAT IS THE
NOISE LEVEL ON SEE YOU'RE NOT
GOING TO ABLE TO GET YOU THERE
TONIGHT MOST THE TIME
AND SO WHAT WE ABLE TO DO IS
SAY WELL LOOK YOU SEE THERE'S
ACTORS OF OUR NEXT ORDERS, A
GROCERY STORE AND THE
THAT THE LOADING DOCK IS
ACTUALLY RIGHT IN THE ALLEYWAY
NOT IT'S A LOT GOING SO WHAT WE
TRY TO DO IS IS REALLY GOING
DEEPER AND TELL YOU ALL YOU
KNOW WITH THIS.
>> AT THIS
SPECIFIC ADDRESS. WHAT ARE THE
TRENDS ARE THE THINGS THAT
YOU'RE GOING
TO SEE. WHAT ARE THE ONE OF THE
ELEMENTS OF LOCATION THAT YOU
SHOULD WEAR AND SO ALTHOUGH
SOMETHING THAT'S MOVING.
2 DIFFERENT NEIGHBORHOODS OR TO
A DIFFERENT CITY, IT'S SO
REALLY INTERESTING
TO SEE DATA POINTS THAT YOU
WOULD HAVE OTHERWISE MAYBE NOT
CONSIDERED OR NOT BEEN ABLE TO
UNDERSTAND IF YOU DIDN'T LIVE
THERE. A MONTH OR 2 AND THAT'S
REALLY WHAT WE'RE TRYING
PROVIDE FOR CONSUMERS THAT ARE
SEEING WITH THE NEIGHBORS.
>> YEAH, I HAVE
A FLIGHT PATTERN THAT GOES
RIGHT OVER MY HOUSE.
>> WE REALLY I DON'T MIND IT,