Sramana Mitra: Talk to us a little bit about all these different data sources. What are the strengths and weaknesses? What level of depth can you find?
Diaz Nesamoney: The differences and, arguably, the challenges with data is two-fold. One is some data is essentially not very accurate because it’s based on projections or modeling. They call it look-alike modeling. There, the data is often wrong. That’s one problem. It turns out that the data we collect from the brand is very precise. We tend to lean more on that than all the other data. The other data is used to supplement. >>>
Today’s 357th FREE online 1Mby1M roundtable for entrepreneurs is starting NOW, on Thursday, June 15, at 8:00 a.m. PDT/11:00 a.m. EDT/8:30 p.m. India IST. Click here to join. All are welcome!
Today’s 357th FREE online 1Mby1M roundtable for entrepreneurs is starting in 30 minutes, on Thursday, June 15, at 8:00 a.m. PDT/11:00 a.m. EDT/8:30 p.m. India IST. Click here to join. All are welcome!
According to a Tech Navio report published last year, the market for online fashion retail in the US will grow 14% annually through to 2020 driven by increased security measures for online payments, improved logistics with reference to product delivery, better online customer service, and easy-to-navigate shopping websites. Billion Dollar Unicorn club member Stitch Fix, that I wrote about briefly in 2014, has built a successful company in this space.
We’ve talked about niche, proprietary e-commerce brands and how entrepreneurs are building businesses around different concepts. Eric shares the story of Big Barker, a dog bed for large dogs.
Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background?
Eric Shannon: I was born in Pennsylvania in a suburb about 45 minutes outside of Philadelphia. I went to Temple University. I was a Finance major. After school, I moved to California and took a job in banking. I hated it and was terrible at it. I had a >>>
Sramana Mitra: The engine that you are selling sits on your end and the customer basically buys it in a cloud mode? Is it a managed service?
Diaz Nesamoney: It can be either way. The software and the technology sits on the cloud. That’s what allows us to scale across hundreds of customers and massive amounts of data. A client can decide to use it themselves if they have the expertise to operate it themselves, or they can work with us. We have a managed service offering. A lot of marketing teams and agencies tend to outsource a lot of things. >>>
According to the Internet Trends 2017 report by Mary Meeker of Kleiner Perkins Caufield & Byers, the number of Internet users in India increased 28% to 355 million and internet penetration grew to 27% in 2016. About 80% of Internet usage is through mobile phones. A major beneficiary of this trend is leading wallet company and Billion Dollar Unicorn Paytm. >>>
Sramana Mitra: Any other strategic moves that you made in building the company that are worth going over?
Stefania Mallett: We made the choice from the start to deliberately build a culture of insane helpfulness. I can’t say that we use that phrase. We didn’t articulate that into those two words. We focused on providing fantastic customer service to both sides of our marketplace. We’ve always taken both sides of our marketplaces equally seriously.
We feel that if you are a company that is extremely easy to do business with without being total pushovers, then you create no >>>