Get a software platform out the door is incredibly hard
Getting one that is simple and easy to use is 10x harder
Seeding Market with vendors, training, stores, etc must have been a herculean task. Notice there wasn't a... we need another two weeks. Went off on time and very well. Excellent job by the Verb team and their partners.
I dare say the rest is now relatively easy...
Keep adding brands, let them do their promotions and live events and sit back and collect your 8%-15% which is very reasonable compared to trying to do Live Streaming yourself without the Market cross pollination of shoppers that will grow. Also it's cheap marketing for each of these brands. Even cheaper customer acquisition cost.
Analysts love these companies like paypal, ebay, and many others that get a cut of sales. There is no ceiling on the revenue. You don't even have to sell a thing. Your customers are doing the selling.
I suspect now that other companies, that were slow to the draw actually see Shopfest, they will be signing up right and left.
Now it's just of matter of volume. Volume of stores, products and live events. Volume will bring on incredible revenue numbers. Google knows this when they invested in WhatNot at that high valuation. Oh and they just sell Pokémon cards and what not. Verb can do that too, but not the craigslist, garage sale, flea market, mom's basement vibe whatnot has.
Getting one that is simple and easy to use is 10x harder
Seeding Market with vendors, training, stores, etc must have been a herculean task. Notice there wasn't a... we need another two weeks. Went off on time and very well. Excellent job by the Verb team and their partners.
I dare say the rest is now relatively easy...
Keep adding brands, let them do their promotions and live events and sit back and collect your 8%-15% which is very reasonable compared to trying to do Live Streaming yourself without the Market cross pollination of shoppers that will grow. Also it's cheap marketing for each of these brands. Even cheaper customer acquisition cost.
Analysts love these companies like paypal, ebay, and many others that get a cut of sales. There is no ceiling on the revenue. You don't even have to sell a thing. Your customers are doing the selling.
I suspect now that other companies, that were slow to the draw actually see Shopfest, they will be signing up right and left.
Now it's just of matter of volume. Volume of stores, products and live events. Volume will bring on incredible revenue numbers. Google knows this when they invested in WhatNot at that high valuation. Oh and they just sell Pokémon cards and what not. Verb can do that too, but not the craigslist, garage sale, flea market, mom's basement vibe whatnot has.
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