The End

HOW IT WORKED (making a screencast demo proved more difficult than expected, but hopefully it should give somewhat of an idea of how it all worked…)
  1. Today, information about a product as well as details of a purchase are spread out across many players (manufacturers, retailers, payment providers, banks etc). However, consumers would benefit from having access to this data in an aggregated and clean way. After some time and effort of trying to structure and gather this data in one place, it has become clear that there are larger than anticipated technical challenges related to gathering data from multiple sources, understanding that data and keeping it relevant to users. Without solving these challenges, we as an independent startup, will struggle with providing relevant data and for us bad data = unhappy users. Attempting to solve them would require a lot of talent and capital.
  2. Down the line we pictured a marketplace. Like most marketplace models, you need a very large user base in order for the economics to work and become a lucrative business. In our case, it would mean expanding the proposition of our platform to reach hundreds of thousands, if not millions of users. The thinking was that after pleasing our initial users, we would then expand our proposition to cater to nearby segments of people, with similar needs and interests, and so on. Unfortunately, our first solution didn’t hit the nail on its head and as a consequence we were not on the growth trajectory we wanted.



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