Sramana Mitra: You may have read my article on this subject especially in the context of fashion. I did the first e-commerce in fashion with exactly this premise – that it needs to be a personalized store. You have to use technology in the backend, and it’s a very expensive technology to build. Daniel Gulati:
Sramana Mitra: The part of retail that I find interesting is the niche. Let’s take fashion. I don’t wear big designers as much anymore. I also shop a lot when we’re traveling in esoteric designers that don’t have big footprints. These kinds of things are not accessible. If there’s a small retailer that assembles and
Sramana Mitra: I’ve thought about this quite a lot. My observation is that you have to have private-labeled brands to compete with Amazon at this point. In whatever category that you’re working in, you need a product that you can differentiate with. You can’t really differentiate on the basis of other people’s products that easily
Daniel Gulati: What’s changed with Amazon is, historically, you used to be able to red-line categories as Amazon-proof. Amazon is an intent-based environment and doesn’t really do well on discovery. They’re not going to get fashion, the inspiration, and emotional connection of buying a $300 dress online. On the grocery front, Amazon doesn’t have a
Sramana Mitra: Is there a counterpart of yours on the enterprise side who also deals with seed stage investments in the B2B businesses? Daniel Gulati: There are two relevant streams there. We have a sister fund that we are an LP in. They lead the best B2B investments on the East Coast. One of my
Excellent discussion on the e-commerce startup trends and what can and cannot be venture financed at this stage, and why. Sramana Mitra: Let’s start by introducing our audience to yourself as well as Comcast Ventures. Daniel Gulati: I’m currently a Principal of Comcast Ventures based here in San Francisco. I focus 100% of my time