INVESTOR SUMMARY
Symptom
Average ecommerce conversion rates are only 2.5% to 3% in the U.S. and are even lower globally
(Monetate Ecommerce Quarterly Q2 2014). This is an acute pain point for online retailers.
Diagnosis
Why do browsers fail to become buyers? The best available research points to the paradox of choice,
i.e. overwhelming choices and information are paralyzing consumer purchase decisions.
Prescription
Interactive choice reduction. Our online shopping quizzes generate a personalized Top 3 list of
bestsellers based on the user’s answers in less than 60 seconds, which enhances customer
engagement and increases conversions for retailers.
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Each deceptively simple quiz is created using our patent-pending multivariate sorting protocol,
which goes far beyond standard curation to create a scalable concierge experience.
Our demonstration quizzes for baby products are available at www.ABorC.com.
Business model
We will offer our interactive content platform to online retailers on a subscription SaaS basis, allowing
them to create their own embeddable shopping quizzes with a 30-day free trial.
User traction
Over 25,000 users have taken our proof-of-concept quizzes since January 2014, with a bounce rate
under 12% (compared to 20-40% for retail sites and 70-90% for landing pages) and in-market
purchase conversion of 16% (or 5X the national average).
Currently, we are providing full-service quiz creation and A/B testing for our early adopters, in order to
generate success stories and hard data as proof of our value proposition. Referrals to interested
retailers are appreciated!
Founding team
We are domain experts in cognition and ecommerce.
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Jennie Wong, CEO is a social scientist who received her Ph.D. from the University of Southern
California at the age of 22 and is the creator of ABorC’s multivariate sorting protocol. Experienced
executive, business owner, and nationally syndicated entrepreneurship columnist.
Steve Krause, CTO is a 3-time CTO including TEAMTalk (acquired by ESPN). With two decades
of ecommerce development experience, he leads application and integration development.
ABorC is our second company. Our first company, Limelight Web Development, has delivered
ecommerce development to online retailers for over 10 years, giving us an unfair advantage.
Advisors
Farzad Ehsani (Fluential Inc.), F. Randall Farmer (Social Media Clarity), Katherine Glassey (Cruzin,
Brio Technology), Kevin Madsen (Visual Supply Co.), Fran Maier (TRUSTe, Match.com). Endorsed by
Dr. Barry Schwartz, author of The Paradox of Choice.
Funding goal
Seeking initial seed round of $750K as convertible debt.
Use of funds
This level of capital will provide an 18-month runway for a team of 5 (CEO, CTO, Chief Content Officer,
Business Development Lead, UI Designer), enabling us to A) build out our self-service platform and key
integrations, B) acquire our first strategic partners and subscription customers, and C) achieve cash
flow break-even. Additional uses include patent prosecution, marketing/PR, and advertising spend.
ABorC, Inc.
Los Angeles, CA
www.ABorC.com
310-592-6118
[email protected]