Founder Fireside: Curated and Forerunner Ventures

TL;DR

Curated, an e-commerce platform focused on high consideration purchases, experienced a surge in demand for outdoor equipment during the pandemic, highlighting the need for expert advice in online shopping.

Transcript

hey Eddie hello audience um you know so I've been thinking about it e-commerce had such a boom during the pandemic um Eddie how fast did you have to scale your business well at first we had to slow it down real quick when the pandemic started because we weren't sure if we were gonna survive or not um the pandemic was crazy at first like it was lite... Read More

Key Insights

• 💥 E-commerce experienced a boom during the pandemic, with Curated finding success in the outdoor equipment market.
• 💪 Building strong relationships with physical retailers can help e-commerce businesses meet increased demand during uncertain times.
• ❣️ Oversupply can be a challenge for brands, but platforms like Curated can offer an additional channel for brands to sell excess inventory without heavy discounts.
• 🤗 The relationship between a founder and investor should be based on open and candid communication to make informed decisions.
• 🪛 Focus, execution, and a healthy balance between automation and human expertise can drive success in e-commerce.
• 🏛️ The next iteration of community in shopping experiences may involve creating and nurturing online communities where customers and experts can connect, share content, and build relationships.

Questions & Answers

Q: How did Curated's business change during the pandemic?

Initially, Curated scaled back operations due to uncertainty, but soon saw a surge in demand for outdoor equipment as people sought outdoor activities during the pandemic.

Q: How did Curated manage the increased demand for outdoor equipment?

Curated formed stronger partnerships with physical retailers to meet the rising demand, leveraging their existing relationships with brands and retailers.

Q: What challenges does Curated currently face?

Curated now faces oversupply from brands, which presents a challenge. However, the company sees an opportunity to provide an additional channel for brands to sell their excess inventory without resorting to heavy discounts.

Q: How did the relationship between Curated and its investor change during the pandemic?

The frequency of conversations between Curated and its investor, Kirsten Green from Forerunner, increased during the pandemic, focusing on decision-making and balancing limited resources amidst uncertainty.

Summary & Key Takeaways

• Curated initially scaled back its operations due to uncertainty during the pandemic but experienced a significant increase in demand for outdoor equipment as people turned to outdoor activities.

• The company formed stronger relationships with physical retailers to meet the rising demand for outdoor equipment.

• Curated now faces the challenge of dealing with oversupply from brands and has found an opportunity to offer an additional channel for brand inventory.