Photo - Strykin Live
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Strykin Live

Livestreaming E-commence Creative Marketplace

United Kingdom
Market: Another
Stage of the project: Operating business

Date of last change: 17.06.2020
Min investment
$  25.000
Show contacts
Total required
$ 252.000
Rating
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Idea

Strykin Live is an online live streaming marketplace. Creators can reach their followers in real time and give them a unique opportunity to engage and purchase products.

Current Status

Post revenue and growing

Market

Our clients would be Etsy Sellers (predominantly female, between 20-35). If we considered UK Etsy sellers, there was 325,000 sellers as of 2019. Globally, there were over 2.5 million Etsy sellers as of 2019.

More creative businesses and artists begin to trade online recently, ushered by a climate where more of them have been exploring digital alternatives to physical stores. Live streaming is also set to grow to be a 98.5 billion pound industry by 2025. Combining, the increasingly online presence of creative business with the stories and interaction of live video is a powerful combination for an explosively growing market.

Problem or Opportunity

Artists and creators are reaching a larger global market then ever. The saturated web-space along with closed stores and cancelled events have accelerated the need for creative businesses to find effective digital ways to reach their market beyond a static web-shop.

Their inspirations and creative processes are poorly communicated on traditional marketplaces like Etsy. These are particularly important for fans of creative and indie businesses who love to support the stories and people behind the products they buy.

Solution (product or service)

Strykin Live is a live stream web platform that lets creators & artists showcase and sell products while engaging customers with their stories and inspirations.

Strykin Live gives businesses a platform to go live alongside a clear click to buy button for their products. Viewers can ask questions via chat and easily purchase while watching the live without signing up or downloading anything. The seller is able to update the product to buy as they present them live during the stream.

We make live stream sales as close to real life customer interaction as is digitally possible.

Competitors

The largest alternative to us is live streaming via Facebook and Instagram and linking to an existing web shop or invoicing via paypal.

Other businesses in the livestreaming ecommerce market are:
Dote, QVC, Comment sold, Bambuser

Advantages or differentiators

We focus exclusively host creators and creatives to provide a more authentic and personal buying experience.

We have a unique companion web app that lets sellers highlight products in real time to help drive sales as they showcase particular products.

We promote our creators and drive traffic to their streams.

We provide 1:1 training and setup to creators to help them maximise gains from live streams.

Finance

We take a commission of 15% + 20 p on every sale made on the platform. We have built the platform over 6 months and so far have average sales of £150 per 1.5 hour stream. We are currently on-boarding clients quickly and growing our user base.
We aim to reach have around 4500-5000 users within 2 years and then expand our platform capacity to allow for aiming for 120K users within 5 years. If each stream takes an average of £50 per 1.5 hour stream we have potential of growing to making around £53 million in revenue annually.

Business model

We take a 15% + 20p commission on each item sold on our platform.

Money will be spent on

Increase viewership & conversion rate:

1. Ant media server to scale to 1100 clients
2. Brand UI/UX upgrade
3. Marketing campaigns for platform and streams

Improve Creator Experience:

1. Easy stock management tool and stats dashboard
2. Automatic dispatch and delivery status notifications
3. Creator profiles and community pages
4. Easy go live interface

Offer for investor

15% equity

Incubation/Acceleration programs accomplishment

N/A

Won the competition and other awards

N/A
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video