Everything we know so far about Verishop, former Snap chief strategy officer Imran Khan’s new e-commerce startup that aims to take on Amazon
- Former Snap chief system officer Imran Khan’s new business will be known as Verishop, he introduced in a Medium submit Monday.
- It aims to produce an on the internet retailer that serves customers and brands greater than current e-commerce alternate options.
- Verishop has signed partnership promotions with a range of models, Business enterprise Insider has realized.
Previous Snap chief tactic officer Imran Khan’s new e-commerce organization has a identify, Verishop, the startup introduced in a Medium post Monday.
The new venture is “a new form of on-line-searching business,” and its goal is to “create an on the internet retailer that superior serves each prospects and manufacturers.”
Khan is attempting to develop an alternative to Amazon or Jet for makes to sell their goods, with a concentrate on certain products groups, Recode has noted.
E-commerce has built procuring extra effective, but in executing so, has “missing a great deal of the pleasure” of discovery, according to the submit. Verishop hopes to convey that joy again to on the web buying, at scale and with the ease of on line getting and speedy shipping and delivery that customers have appear to be expecting.
The company also seeks to elevate brands’ identities when encouraging them access millennial consumers. Verishop claims it will not question models to pay out for superior placement or depart brand names to fight unvetted third-get together sellers and counterfeit items, as other e-commerce platforms do.
Verishop has signed partnerships with a number of brand names currently, Business enterprise Insider has learned, like splendor makes Ursa Important and Indie Lee, property products makes this kind of as Major Products and Indego Africa and fashion makes which include IRO and Finders Keepers.
In addition to Imran Khan, Verishop’s management consists of his wife, co-founder and main system officer Cate Khan, who invested eight many years at Amazon, where she was most lately SVP of retail for the Quidsi organization.
The startup also just lately employed expertise agent Paul Cazers as its vice president of strategic partnerships, as Business enterprise Insider 1st described, and named Mark Schwartz, Goldman Sachs’ previous Asia-Pacific chairman and a WeWork board member, to its board.
Other latest hires involve Jason Bosco, Dollar Shave Club’s vice president of engineering, who was tapped in November to operate engineering. The startup’s headcount is about twenty.
Khan sees social-media influencers, in addition to Google, as becoming an important resource of traffic to the platform. Cazers’ function will be to construct partnerships with influencers and brand names, which includes immediate-to-consumer ones, a supply acquainted with the designs informed Business enterprise Insider past 7 days.
Browse More: Snap’s former main tactic officer, Imran Khan, makes a critical retain the services of for his on the web-browsing startup
Khan raised $17.five million for the startup, with Lightspeed Undertaking Associates as the lead trader, in November.
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