First Check Ventures’ Post

Did you know that by 2023, e-commerce revenue is projected to reach upwards of $6.5 trillion worldwide? If you’re a startup founder aspiring to venture into the trendy online retail space, you might want to consider building your own e-commerce platform. Below are the key elements of an E-commerce Platform that you'll surely be interested in if you're planning to build one. Let's learn more! #ecommerce

Shop Circle, a London, UK-based one-stop-shop software provider for e-commerce brands, have raised a massive $120M in Series A funding.🚀💰 The round was led by 645 Ventures and 3VC, with participation from previous backers QED Investors and NFX, with the credit facility provided by i80 Group. This brings the total funding raised to $185M.💸 Shop Circle provides budding e-commerce brands the tools they need to start, grow and sustain their businesses, such as online store design and inventory management. Shop Circle’s growth coincides with a large boom in the e-commerce industry. Before the pandemic, e-commerce in the U.S. grew between 13% and 15% yearly. But during 2020, it grew by 33%.📈 Congratulations to Gian Maria Gramondi, Luca Cartechini and the Shop Circle team 👏 #ecommerce #funding #growth

Toast, Square, and Shopify make only 30% - 40% of their total gross margin from “selling software.” Today, some of the fast-growing SaaS companies make 0 😲 This has got to be one of the most powerful business models out there. By dropping the price of the software (sometimes to 0), these companies dramatically reduce the cost to sell new customers and the friction to adopting their platform. They can sell to virtually any customer (including lots and lots of SMB) and grow at an unbelievable pace. Instead of spending thousands of dollars flying AEs ‘round the country wining and dining CFOs trying to convince them of the software’s value and charging an arm and a leg, these companies choose to gift customers tremendous value on day 1. In return, they win the customer’s business, and that forms the foundation for the real revenue drivers. Toast and Square provide free (or cheap) customer and business management software, charging a small % of total merchant GMV as their fee. Shopify sells their world-class e-commerce platform for a mere $39 / mo, opting to make the majority of their revenues from “merchant solutions” such as processing payments, their third party app store, Shopify Shipping, and Shopify Email. Brex and Ramp provide free expense management and financial control software, which is integrated with their corporate credit card and from which they make interchange revenue. I’m convinced that we’ll see many more companies adopt this business model going forward. Think about the software you’re building as a way to win customers’ business, then figure out what additional revenue models you can build on top. And, as detailed above, it doesn’t have to be limited to taking payments end-customer payments (though, you totally should if you can!) #Toast #Square #Shopify #VC #Startups #Business #BusinessModel

As we reflect on the journey that began in the early 1990s, it becomes evident that e-commerce is not just a fleeting trend but a transformational force.

🚀 Big Update – Ecwid integration is officially here! If you're running an Ecwid by Lightspeed store and looking to dive into dropshipping, we've got you. 😎 You can now integrate your store with AppScenic and gain access to over 1,000,000 products from top reliable suppliers in the US, EU, Canada, or UK. Discover how this integration can take your business to a new level 👉 https://lnkd.in/dCpFX45H #Ecwid #Dropshipping #Retailers #AppScenic

Quick commerce, or Q-commerce, has completely transformed the way we live our lives. I've personally witnessed this transformation—from the simplicity of small village life to the hustle and bustle of city living. The change from traditional monthly markets to the convenience of 15-minute home deliveries is truly remarkable. Back in my younger days, our shopping routine revolved around the local markets. We'd spend hours browsing through stalls, chatting with vendors, and carefully selecting the freshest produce. But with the advent of Q-commerce, everything changed. Now, with just a few taps on our smartphones, we can have groceries, household items, and even meals delivered to our doorstep in a matter of minutes. While the convenience of Q-commerce is undeniable, it's hard not to feel a pang of nostalgia for the days of market visits. There was something special about the sights, sounds, and smells of the bustling marketplace. I still remember the excitement of discovering new fruits and vegetables, bargaining with vendors, and sharing stories with fellow shoppers. Despite the convenience of Q-commerce, I worry about the impact it will have on future generations. Will they miss out on the same experiences that shaped my childhood? The simple act of going to the market taught me valuable lessons about community, resourcefulness, and the value of hard work. As we embrace the benefits of Q-commerce, let's not forget the importance of preserving these traditional experiences. Let's make an effort to continue supporting local markets and cherish the connections they foster within our communities. After all, it's these small moments that truly enrich our lives and create lasting memories. Sudeshna Mandal (Goswami) TARA SANKAR CHAKRABORTY Abhijit Patra Lokesh Sharma Saurabh C Verma Avijit Mallick

Just tuned in to Shopify's Q3 earnings call and here were my key takeaways: 🌐 Global E-commerce Continues to Thrive: Shopify's impressive Q3 results, with a 60% YoY increase in Gross Merchandise Volume (GMV) to $45.6 billion, underscore the ongoing growth and resilience of the global e-commerce market. The shift to online shopping is here to stay, and businesses are thriving in this digital-first landscape. 🚀 Entrepreneurship on the Rise: With over 2.6 million merchants now using Shopify, the platform continues to be a catalyst for entrepreneurship. It's empowering individuals and businesses to start, scale, and succeed in the e-commerce space. The democratization of online commerce is reshaping industries and opening doors for innovative ideas. 🔧 Technology Fuels Innovation: Shopify's commitment to investing in cutting-edge technology is driving enhanced user experiences for both merchants and customers. The focus on AI-driven solutions, improved checkout experiences, and augmented reality integrations is elevating e-commerce to new heights. 🛒 Beyond a Platform: Shopify is more than just an e-commerce platform; it's an entire ecosystem. It fosters collaboration, creativity, and community among merchants, developers, and partners. The strong sense of community is a valuable asset in navigating the ever-changing e-commerce landscape. As we head into the holiday season and beyond, these insights reinforce the importance of adaptability, innovation, and a customer-centric approach in e-commerce. It's an exciting time to be part of the e-commerce community, and I'm looking forward to seeing how these trends continue to shape the industry. Let's continue to explore new opportunities, embrace technology, and empower businesses to thrive in the digital era! 💪✨ #Shopify #Ecommerce #EarningsCall #Entrepreneurship #DigitalCommerce

Exciting times lie ahead in the e-commerce landscape! At the heart of it is a mission to create more than just another shopping platform. Introducing Theeaselife.com, a unique startup committed to revolutionizing retail with an emphasis on positivity. Nested in Los Angeles, California, Theeaselife.com, founded by David Awosika, is changing the game by offering everyday life products while promoting peace, integrity, and growth. Their success lies in augmenting positivity and creating a lifestyle that paves the way for a strong, worry-free community. Still not convinced? Get a dose of positivity and read more about how Theeaselife.com is setting new norms for e-commerce delivery. A tale worth telling! https://lnkd.in/eiKGjyGi Watch out, retail world. A positive revolution is here. #RetailRevolution #Ecommerce #StartupSuccess #TheEaselife #Positivity #InnovationInRetail

You're killing your E-commerce I've seen too many e-commerce ventures burn through cash without paying attention to the essential business fundamentals necessary for healthy and sustainable scaling: * Optimized Site and Customer Experience: Your platform is your digital storefront. Make it welcoming, easy to navigate, and reliable. It's the face of your business online. * Inventory Management: Are you balancing demand with supply? Both overstocking and understocking can be fatal mistakes. Remember, no scale without product availability and a solid Gross Merchandise Value (GMV) position. * Customer Satisfaction (CSAT): Are your customers as delighted as clams at high tide, or are they returning their orders as quickly as they received them? * Conversion Rate (CVR): Is your website effectively turning visitors into buyers, or is it merely a digital window shop? * Average Order Value (AOV): What is the average spend per transaction? Are customers loading their carts or just browsing? * Units Per Transaction (UPT): Are customers purchasing items in bulk or just picking up single items? * Customer Acquisition Cost (CAC): What is the cost of attracting each customer? Is this sustainable over the long term? * Lifetime Value (LTV): Do your customers come back repeatedly, or are they just passing through? Are they loyal enough to stick around longer than a season finale cliffhanger? * Cart Abandonment Rate: How frequently are items left in carts? A high rate could be a red flag, indicating problems with your checkout process or pricing strategies. * Cancellation and Return Rates: A high rate of cancellations and returns can be a critical indicator of customer dissatisfaction or issues with product expectations. * Healthy Unit Economics: Are you actually making a profit, or are you just moving numbers around? If you're not paying close attention to these areas, your project might be on a fast track to nowhere. It’s crucial to get these fundamentals right to ensure your e-commerce venture not only survives but thrives.

Hallo, hallo, hallo, what’s going on ‘ere then? A startup founded barely two years ago recently completing a $185m a dual-tranche Series A funding round and calling itself “The first operator of e-commerce software”, while claiming to be profitable and boasting 360% yoy growth? This rings all my alarm bells. I refer to Shop Circle, the London-headquartered brainchild of business school lecturer and former equities analyst Luca Cartechini (CEO) and Gian Maria Gramondi (COO), who used to work at Amazon as brand specialist and category manager. What is Shop Circle really all about? All becomes clear on the “Sell your business” page on the Shop Circle website. It’s a buy-and-build e-commerce software aggregator masquerading as a one-stop-shop for e-commerce businesses. An app marketplace, if you will. In fact, you can buy Shop Circle’s apps on the Shopify app store. [NOTE - SEE MY UPDATE POST FOR CLARIFICATION] This sounds a bit odd to me given that Shopify is meant to be the one-stop platform for e-commerce businesses, but there you go. Even odder is Shop Circle’s claim to “[offer] merchants 37 different tools to build their businesses on Shopify”, yet the Shopify App Store only shows nine.  What I find most entertaining about Shopify is its ‘raison d’etre’ as explained by Cartechini. He said some merchants were working with up to 35 separate app providers. It appears to me that Shop Circle aims to ‘simplify’ this by having them work with up to 37 separate apps, the ‘advantage’ being they are now sold under a single brand. Cartechni makes a vague nod to ‘integration’ but there is no way they could integrate 37 (or even 9) products from disparate vendors into an holistic platform. Clearly Shop Circle’s backers 645 Ventures, 3VC, QED Investors, NFX and (debt providers) i80 Group see something I don’t. [NOTE - SEE MY UPDATE POST FOLLOWING A CHAT WITH CO-FOUNDER LUCA CARTECHINI]. #ecommerce