E-commerce

Furn.io – Don’t waste time Shopping

Ed: Its the weekend and its time to furnish the apartment in Redfern, Mission or wherever in the world you are. Assuming you are past the stage of recycling furniture from the side of the road (actually I still do this from time to time, it grieves me to see decent furniture headed for the tip) then you are going to have to hit some bigbox retail shopping centre/mall.

This app will let you do it from your work desk so you don’t have to screw around wasting valuable work hours stuck in retail hell.

Startup NameFurn.io
What problem are you solving?We seek to create an effortless, enjoyable and intelligent shopping experience for those reluctant to engage with mobile shopping due to inconvenience.
What is your solution?We help home owners to furnish their homes in a stylish and sustainable way
Target Marketmarketers, bloggers, potential shoppers
How will you make money?Subscriptions/Advertisement
Tell us about the market & founders, why is this a great opportunity?Benjamin Libor is a founder of Makers Labs and an mobile expert with years of experiences in global mobile marketing.
Founders NamesBenjamin Libor
What type of funding has the company received?Bootstrap
Websitehttp://www.furn.io/
Twitter Handle@furn_io
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Geebus – Product Review & Opinion Aggregator

Ed: Looks like a good idea, aggregates ratings and opinions from numerous sites by product category presumably they make money from the affiliate sales.

Startup Name 

Geebus

What problem are you solving? It shouldn’t take days of research to find the overall best product option for your hard earned money. Why not collect the mountain of trustworthy reviews and ratings already out there and calculate the BEST in seconds.
What is your solution? Geebus provides the most accurate product ratings on the web by collecting and aggregating expert reviews and customer reviews from all over the internet.
Days of shopping research is now done in seconds. Just tell Geebus what your shopping for and the Internets BEST rated product appears.
Why is this a great opportunity? Some websites have aggregated just experts reviews and others just do customers. We decided to find a way to incorporate both because our research showed that people wanted both.
Target Market Consumer InternetOnline Shopping

Product Reviews

Product Ratings

Founders Names Ross O’Donovan, Mark Gardner
Website http://www.geebus.com/
What type of funding has the company received Friends/Family

 

MineWhat – Ecommerce Analytics Service

The Pitch

Startup Name *MineWhat: An eCommerce Intelligence Company
What problem are you solving?With over 100,000 eCommerce companies (and growing), it’s hard to stand out. They all process large volumes of data and they need to make sense of how to use it when making decisions. Not everyone understands analytics or how to create the insights from numbers. At MineWhat, we think they shouldn’t have to.Our app is for people who aren’t analysts and prefer to see their data connecting their shopper segments to their products, brands, and categories. We realised that the existing analytics tools weren’t designed with the needs of eCommerce companies in mind. So, we created one designed just for them, and it’s easy to use too.
What is your solution?Product level insights are what eCommerce companies need to better understand consumer behaviour and the interactions on their site. This is exactly what we give them. With our innovative features, marketers and merchandisers can make better informed decisions to reach their business goals. With us, there’s no coding and we visually connect data right down to the SKU level.
Why is this a great opportunity?eCommerce is a growing industry and we saw a gap between what these companies needed in terms of analytics tools to what was available to them in the market. We wanted to be the solution and fill in that gap.
Target MarketSmall to large eCommerce firms, especially those based out of the United States or Europe. We’ve gone global and have noticed our app being especially useful for those who work in marketing or in merchandising.
How will you make money?When our clients sign up for our app, we generate revenue through their monthly subscription plan.
Founders NamesRam and Pavan
Websitehttp://minewhat.com/
What type of funding has the company receivedVenture Capital/ Private Equity


Startup88 Verdict

The problem MineWhat is solving is real. Making decisions on what to sell based on yield, conversion rates, profit etc is impossibly difficult to scale manually. Most eccomerce sites with any volume have to build their own systems to manage this, but this isn’t an option for the smaller end of town.

Google Analytics is not really setup to provide analytics based on the profitability and the success at a product level of your store so it seems to me there is a decent market which in all likelihood will continue to see growth for the foreseeable future as more and more small and medium businesses launch online stores and more and more retailers realised that they may not be able to stay in business in traditional retailing.

The founders Janakiram Ganesan and Pavan Kumar moved the company from Bangalor, India to Arkansas after and have raised The Ark Challenge an accelerator based in Arkansas and have raised their first (undisclosed) round of capital from Gravity Ventures.

While it still looks like early days for these guys they seem to have their problem and solution well defined, the market they are selling too are willing pay if they can convince customers that they will see a return on their investment, the question is can they attract and acquire customers in a cost effective campaign, it would seem to me this will be the biggest challenge, I would suspect that they will almost certainly have to send sales reps out into the field to hit reasonable sized merchants, this costs a lot of money to acquire new customers and speaking from personal experience trying to find people who are able to create new enterprise and business sales opportunities is not trivial.

If they can use online signup for their smaller clients and build a broad base of small clients this could be very scalable, while the direct team brings in the larger clients this could turn out to be a good enterprise business.

 

 

 

 

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$2 billion in sales processed – Bigcommerce is making it big on the world stage

BigCommerce raises $40m

BigCommerce raises $40m

Australian founded Bigcommerce has just passed two big important milestones, firstly their Ecommerce platform has processed over $2 billion for their 36000 customers since 2009. This is amazing to build something which is so influential in other peoples businesses and its fantastic they started in Sydney. The second big milestone is they recently announced they have raised $40 million C round from VC’s Revolution Growth taking the total raised to $75 million.

Now $75 gorillas is a lot of money, however they have real traction in the B2B market in a massively growing segment and they themselves are acquiring customers at a very fast (for B2B) rate, 70% of the customers signed up in the 1st quarter of 2013 and they are expecting to do over $3 billion by the end of the year.

As some of you might know, its much harder to get business customers than consumers but they are extremely sticky and once they have committed cash and resourced to your offering they stay for a long time and pay real money.

Congrats to Founders Eddie Machaalani and Mitchell Harper and the rest of the BigCommerce team

BigCommerce Sydney Team

BigCommerce Sydney Team

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