Michelle Bacharach, CEO and co-founder of FINDMINE, pitches her startup at the Techweek New York Launch Competition 2015.
Founded in 2014, the smart retail app is headquartered in New York and attempts to offer smart fashion suggestions to online retail stores. Online retailers face constant issues with not being able to sell a lot of products due to conventional outfit suggestions on a typical product page. Consumers place an increasing demand for personalized styling that the current retailers cannot offer. Aiming to solve the rising demands of retailers and consumers, FINDMINE provides its service with a monthly/annual fee structure.
Other key points on the company:
The startup aims to serve a 500 billion dollar growing market and its distribution strategy includes building apps and add-ons for their retailer customers. It is the recipient of numerous awards and has been featured on many prestigious platforms including CBInsights, Fox, VentureBeat, National Retail Federation, and Alleywatch.
Below are some of the key points and moments from the conversation:
- 0:12 – Michelle introduced herself to the panel and demonstrated the prime issue of retailers not being able to sell all their products effectively
- 0:15 – Michelle introduced Dave who starts creating outfits by coordinating various images in the app
- 1:22 – Outfit suggestions on the product pages of retailers are mechanical and do not offer personalized styling
- 2:26 – FINDMINE provides automated and personalized look recommendations with a more human approach
- 4:28 – Dave finished creating 15 looks that would otherwise take 20 days if he worked at Bloomingdale’s
- 5:15 – Q&A: What is the time between the first meeting to closing the deal with the retailers?
- 6:20 – Q&A: Is FINDMINE a ready product or is it still in its development phase?
- 7:17 – Q&A: What is the pricing like?