Greetings readers, and welcome to a new monthly blog series where I will discuss all things ‘startup’ – from venture capital resources to analyses of innovative companies that I think are truly disrupting their industries, or creating entirely new ones.
I wanted to start by introducing two companies that I recently discovered, both of which leverage technology to simplify consumers’ lives and literally “put the internet to work for you”: ShopSavvy and ifttt.
ShopSavvy, a free smartphone application introduced in September 2008 by Dallas-based idea factory Big in Japan, allows users to do comparative shopping on the go. The application, which is available on Android, Windows Mobile and Apple’s iOS systems, uses smartphones’ cameras, the internet, and geolocation services to identify products and inform shoppers where they can find those products online or locally. The app can read traditional barcodes as well as QR codes, and has a slew of features that allow users to add photos and prices, post reviews, share products via various channels, stream deals aggregated from the web and other ShopSavvy users, and check the availability of products at local retailers.
After using the application for a few weeks, I have been amazed by its potential to change the way consumers shop and its broader impact on B2C product-centric business models. Especially during such times of economic uncertainty, consumers are increasingly arming themselves with information to make smarter purchasing decisions, and ShopSavvy provides a clearly defined benefit in the form of immediate savings. For merchants, however, the application is more of a direct affront to profit margins, as they must become more aware of and responsive to competitors’ pricing schemes – a challenge that is especially daunting to smaller, less flexible retailers who cannot purchase on the scale of larger, big-box competitors.
If This, Then That (iftt.com)
It seems that every week we are inundated with a new app, social network, or some other innovation served up through digital channels, but after awhile, managing all of these elements becomes almost a second job. Surely there’s a way to consolidate our tech lives, and make our online worlds more proactive, right? Enter ifttt.com. ifttt (pronounced like ‘sift’, minus the ‘s’) “puts the internet to work for you” by triggering actions when users define and implement conditional “recipes” across various channels. In November, ifttt announced a partnership with Buffer, a social media scheduling application that will expand the scope of potential recipes that users can create.
For example, you can create a recipe in which you receive a text message anytime that the forecast calls for rain, or one where favorite tweets are automatically saved to your Evernote account. Currently, the most popular ifttt recipe is one in which every time you are tagged in a Facebook photo, the image is automatically saved in a Dropbox folder.
I have long been intrigued by the broader shift from content and product aggregation, to more proactive recommendation-based models, and If This, Then That certainly takes a leap in that direction. After a 9-month beta test that began in December 2010 and included over 100,000 tasks that triggered more than 25 million “actions”, ifttt is now open to all users.
About Colin Hudson
Colin drives the business and analytical thinking on projects, working collaboratively as a consultant on the Motiv team.