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Comin is an online system for impulse buying.

Ukraine, Kyiv city
Market: Internet and IT, Trade
Stage of the project: Operating business

Date of last change: 06.10.2019
Min investment
$  100.000
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Total required
$ 500.000
Rating
equalizer 302 из 1000
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Idea

Comin provide solution which helps bloggers to increase revenue by making it easier for readers to impulse buy – embed a widget with a product tied to the content of a blog post. Readers make purchases directly on trusted website with a simple checkout process. After readers (buyers) to return to the original post.
The result? An increase in conversion rates, from readers to buyers.

Current Status

We have full functionality system. We have tested our system and now we are launching with 20 partners on UA market.

Market

The global ecommerce market is $2.77 trillion dollars. And it is still growing fast. 23% of this revenue is generated through affiliate marketing. A quarter of this generated revenue goes through blog websites.

Problem or Opportunity

Online impulse buying is quite difficult. Why? Impulse buying is: I see it, I can buy it easily here and now. However when you see an advertisement on a blog page and you click it, it actually takes you to a different store, on a different page. You need to use a new interface. And then in order to do the purchase, you need to go through a complicated checkout process. It is not convenient and it is painstakingly slow. That is not impulse buying at all. Unfortunately that is how all affiliate marketing works today.
And according to statistics 84% of bloggers use this way of monetization. But affiliate marketing is laborious, time-consuming and requires special skills. As a result, nearly 70% of bloggers earn zero money.

Solution (product or service)

The solution is an online system for impulse buying that makes affiliate sales more efficient. Now you can go ahead: buy quickly, make a checkout and immediately come back to the page.
An ecommerce widget with a product which is tied to the content of a blog post. Readers make purchases directly on trusted website with a simple checkout process. After readers (buyers) close the pop-up and stay on the original page. It is easy to use and easy to understand. As a result it enhances the conversion rate 1.5 times.

Competitors

Admitad, Skimlinks, SaleAshare

Advantages or differentiators

But all of competitors work on different principles. They redirect readers to a different page and don't tie the product to the blog page content.

Finance

We are planning to attract 120 customers per month. And CAC is $99. Minimal income for one customer $96. Lifetime period is 6 month.

Business model

Comin gets a fee (up to 6%) from each sale. If the price of a good is $30 we will get up to $1.8 from this sale.

Money will be spent on

Marketing, development, legal costs, setup and operation expanses.

Offer for investor

Up to 10% for $500k

Team or Management

Risks

Some of the whales, for example Amazon, will develop a similar system.

Incubation/Acceleration programs accomplishment

Passed the incubation program in EO business incubators from may to october 2019.

Won the competition and other awards

Finalist of Startup Competition at Lviv ITArena.
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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
Product Video