USA, California
Market: Internet and IT, Artificial Intelligence
Project stage: Prototype or product is ready
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Idea or High Level Concept
VidDrop builds communities of user-generated product review videos for online shoppers. Through AI-assisted shopping and a network of trusted peers, we simulate a virtual salesperson to guide and nurture qualified buyers to purchase the right items for them. We reward loyal shoppers with incentives.
Territory of the product or service implementation
USA
Traction and Current Status
MVP web platform with 100 product review videos. Mobile app prototype.
Problem or Opportunity
e-commerce increasingly leverages video as product review content, yet no formal world-wide leader exists fueled by AI & Data Science.
Very Fractured Path for Consumers 1) Difficult to Locate Factual Product Data & Reviews 2) No AI shopping personalization 3) YouTube Not e-Commerce Friendly
Solution
VidDrop empowers e-commerce using AI matching video product reviews with potential consumers near check-out. Video product testimonials dramatically increase the conversion rate for e-commerce. On average 84% of the time vid-eo convinces a buyer to purchase. VidDrop is a complete e-Commerce and com-munity platform with advanced AI and data science to drive checkout conversion.
Customer Segments and Market
We are: VIDEO ONLINE COMMUNITY E-COMMERCE AI & DATA SCIENCE All of which are growing in 2020 and beyond…
Our Categories for Shopping Include: Electronics/Tech Devices The Mommy Channel Health & Fitness Makeup & Beauty
Revenue Streams and Cost Structure
Advertising Paid Ad Placement
Enterprise Services White Label & SaaS Services
Affiliate Pay-per-Performance 3-10% commission after watching a video
Business Model, Chanells, Metrics
Target Market Global e-commerce market Video Product Market $25Bn 2020 $90Bn by 2027 Select Partners: Target.com, Sephora.com, Macys.com, Walmart.com, HomeDepot.com, Nordstrom.com, Amazon TAM: $27Bn e-commerce Video SAM: $17Bn SOM: $500MM @ 2027
1) AI/DATA SCIENCE Technology: we use AI, machine learning, and data science to optimize the shopping experience. 2)BRANDS: We strive to be the leading platform to connect businesses and brands to buyers' interests. 3) REWARDS: We reward loyal shoppers with gamified incentives.
Risks
We must be able to scale to the 100 million users that we estimate we will need.
Incubation/Acceleration programs accomplishment
Participated in the Expert Dojo accelerator in Santa Monica.
Presence of invention or patent
Yes
Invention/Patent
Our CTO has a patent and will gain another patent for VidDrop.
Money will be spent on
$500k on finishing product and growth marketing.
Offer for investor
We are at a $6.5 million dollar valuation and seeking investment in $25k increments for a $500k raise. We are seeking a SAFE or convertible note.
