While customers are increasingly turning to Amazon to buy everything from home goods to electronics, a newly launched app called Dote believed that there an opportunity to compete with the e-commerce giants fashion business.
There are brands that dont wishes to set their stuff on Amazon because it degrades their brand, assertions founder and CEO Lauren Farleigh. Further, she adds, We know that users dont wishes to download 20 different apps to access all their favorite style lines.
Her solution is a mobile browse app that curates from brands like Sephora, Victorias Secret and Gap in what the company calls a virtual mall.
Farleigh believes that this design will have appeal to young woman, particularly between the ages of 15-35. Some notable investors are buying her eyesight, with Lightspeed Venture Collaborator resulting a $7.2 million round in the company. Portion of the money was procured on Apples Planet of the Apps startup show.
When we recognized the engagement and session times for Dote and heard from users, we saw that it had created the shopping as recreation experience on smartphones for millennial and Gen Z ladies, mentions Jeremy Liew, a partner at Lightspeed. We believe that young women are the early adopters of popular culture.
Dote users download the free app, then they are asked to select their favorite brands to be notified about sales and offerings. Consumers are shown curated trends, though theres also a social ingredient where they can show friends what theyre buying.
The company takes an undisclosed share of the transaction revenue when a brands products sell through the app.
Dote wont share how many consumers they have yet, but it claims that the average user “il come back” 15 times per month. Farleigh tells this activity helps the company construct data covering consumption habits and that its algorithms is used to determine what youre most likely to buy.
The company is vie in whats become a fast-growing category. BI Intelligence is forecast that mobile shopping will account for fully 45 percent of U.S. online buys by 2020, or $284 billion .
Farleigh says Dote will use its new funding for hiring at its San Francisco headquarters, as well as to expand its retail partnerships.