[500 STARTUPS DEMO DAY 2015] BATCH 13, Kollecto

TL;DR

Collecto is a platform that uses personalized recommendations to make art collecting accessible and affordable for young professionals, tapping into the growing online art market.

Transcript

hello everyone my name is Tara Reed and I'm the CEO of collecto collecto platform makes it easy for anyone to become an art collector we have a 360k sales run rate and our app is sticky I'll tell you more about that in a moment now you don't need to know anything about art in order to understand this is a fast growing market last year alone the onl... Read More

Key Insights

• 🥰 The online art market saw a significant 40% growth last year, with a $16 billion market for affordable art under $3,000.
• 🥰 Collecto's personalized art recommendations have resulted in a high customer retention rate, with an average customer purchasing art three times a year.
• 🥰 The team behind Collecto consists of experienced professionals from top technology companies and young art collectors themselves, giving them a unique understanding of the market.
• 🥰 The platform aggregates art from various websites, providing users with a wide selection and increasing the chances of finding the perfect piece.
• 🌍 Collecto is disrupting the traditional art industry by applying the success of recommendation services in other fields to the world of visual art.
• 🌍 The platform focuses on making art collecting accessible and affordable for young professionals who are new to the art world.
• ☠️ Collecto's sticky app and personalized recommendations are driving its fast growth rate, with a 360k sales run rate.

Questions & Answers

Q: How does Collecto tap into the growing market of affordable art?

Collecto focuses on the market of affordable art under $3,000, which saw a significant 40% growth in the online art market last year. The platform aggregates art from various websites and provides personalized recommendations to its users.

Q: What sets Collecto apart from other online art-selling websites?

Unlike other websites, Collecto offers personalized art recommendations based on user taste and budget. It has a high customer retention rate, with an average customer purchasing art three times a year and spending around $1,500 per purchase.

Q: Who is behind Collecto and why are they uniquely positioned in the industry?

Collecto has a superstar team with professionals from top technology companies like Google, Microsoft, and American Express. They also have a deep understanding of the art world as young art collectors themselves. Collecto's ability to aggregate art from various websites sets it apart and allows them to show the right piece of art to the right person.

Q: How does Collecto make the art buying experience personalized?

Collecto's platform provides personalized recommendations to users based on their individual taste and budget. By understanding their preferences, Collecto ensures that users find art that resonates with them, making the buying experience more tailored and enjoyable.

Summary & Key Takeaways

• Collecto is a platform that allows anyone to become an art collector, with a focus on the fast-growing market of affordable art under $3,000.

• The platform offers personalized art recommendations based on user taste and budget, leading to a high customer retention rate and an average purchase of $1,500.

• The team behind Collecto includes experienced professionals from top technology companies and young art collectors themselves.