CoolBeez solves the next drawback for small and medium-size on-line outlets: when folks suggest issues to one another, the default response is to google or go on to Amazon. So word-of-mouth advantages Google or Amazon somewhat than particular person outlets. CoolBeez brings the web store again into the advice loop by plugging into the store’s engine, mechanically analysing orders info, figuring out recommenders, and sending out recommendations to suggest bought merchandise to pals in alternate for reductions on future purchases. Discover out what sort of traders they’re seeking to appeal to, why they selected Leapfunder as their on-line funding platform and what are their plans for the upcoming months.
1. Hello Alexey, thanks for agreeing to do the interview. Inform us about CoolBeez, the concept that received it began and the wonderful staff behind it.
CoolBeez is constructed across the energy of suggestions that pals share with one another. We realised the power of this sort of suggestions a number of years in the past again in China when our wine firm was promoting wine to non-public clients via group shopping for offers on WeChat, the Chinese language messenger+social community platform. The present staff of co-founders additionally fashioned there, when Sergey Kopytov joined Galina and me to construct a WeChat based mostly market for wine sellers in China and Hong Kong.
2. What issues are you attempting to unravel? What are the advantages of CoolBeez, and why is it a product-market match?
Suggestions between pals are highly effective, however they don’t profit particular person on-line outlets. For instance, if I really helpful you one thing cool I purchased on-line, you’d most probably google it and purchase it on Amazon or elsewhere, however not from the identical on-line store I did. That is the issue we’re fixing, and our resolution is a product-market match as a result of we deliver the unique on-line store again into the advice loop.
3. How a lot development potential do you see for CoolBeez and what sort of traders are you seeking to appeal to?
The expansion potential for CoolBeez is large – there are greater than 15 million particular person on-line outlets globally, and this determine doesn’t rely tens of millions of on-line sellers who promote via marketplaces equivalent to eBay, Etsy, Taobao, and so forth. All of them are our potential clients. And now the digitalisation of commerce remains to be in an early part. Even with the COVID-19 induced international increase for on-line retail, commerce remains to be extra offline than on-line.
Our splendid traders would have two competencies: on-line retail (they perceive the issue) and advertising (they know the way to develop).
4. You selected Leapfunder as your on-line funding platform. What makes it the precise instrument to your startup, and what do you count on from the spherical?
Leapfunder’s provide matches our present fundraising targets – we’re primarily in search of angel traders, and Leapfunder is an efficient platform for processing such investments. We intention to lift €150.000 from angels on this spherical. €50.000 is already raised and within the financial institution, and we hope that Leapfunder will assist with the remaining €100.000.
5. What are your plans for the upcoming months? Inform us about your go-to-market technique and the plan to amass clients.
A lot of work to do within the coming months:
- We’re beginning advert campaigns on social networks – the primary outcomes are superb, however there’s nonetheless plenty of room for enchancment and optimisation.
- We’re growing an associates program and beginning to attain out to design and advertising studios and businesses who assist create and assist on-line outlets.
- Subsequent within the pipeline are collaborations with associates program operators equivalent to AWIN. Whereas we use comparable tech for order monitoring and attribution, we goal a very completely different market that’s inaccessible to a standard associates program operator. This makes collaboration a win-win for all events.
Thanks very a lot for sharing your story, Alexey. We want CoolBeez the very best of luck.
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