TAGS: An infrastructure for distributed commerce.
TAGS launched last quarter, spiking to the #1 spot on Product Hunt. Their distributable checkout technology untethers transactions from websites, turning any format of media into an instant point of sale. TAGS is achieving a whopping 62% order conversion rate, by moving checkout closer to purchase intent, far outpacing the 15% traditional website conversion. Last quarter TAGS increased its transactional volume by 152% and total merchants by 164%.
Next week TAGS will announce their latest product update called Network. This functionality enables anyone to generate their own checkout Tag from a brand or retailer’s product page, and then instantly sell to their audience on any platform. The implication here is gargantuan in that any person — or platform — can immediately become a seller. Network has already commanded $100M in pipeline over the next 18 months from major platforms, brands, and larger retailers like TJMaxx. Social commerce alone is expected to 3X in 3 years to $2.9 trillion, so TAM is significant.
A seismic shift is occurring as privacy laws challenge marketers, and social platform ad returns have become diluted by rising costs. Consumers’ buying behavior is shifting and influenced by content creators whose authenticity has the power to sway purchase decisions. As content consumption grows exponentially, TAGS grants the flexibility to create automated and ubiquitous commerce experiences. TAGS is also in talks with two AI companies who want to pollinate search results and content with product checkouts, turning any AI response into a transactable moment. The future of creating commerce experiences will be infinitely scalable.
TAGS opens its seed round later this month and CEO, Daniel Abas has built relationships with the top funds over their past year while in stealth. The market environment is optimal for TAGS to dominate and disrupt. TAGS will power a new layer of distributed commerce where all people, places and things have buy buttons on them — WiFi for commerce that turns the world into your store.
