60-second start-up: Shopcade

0-5 seconds: Sum your business up in a sentence

Shopcade is a Facebook application where you shop from user-curated stores built by your friends and others, earning cash together.

5-10 seconds: What's the business model?

Users curate their own stores using over 22 million products from major brands. They promote their stores and products to each other and earn cash rewards when they buy or sell. Retail partners can now incentivise shoppers to be active advocates among friends and have an efficient source of online sales.

10-15 seconds: Who are your competitors?

Shopcade is unique in that there is no other place on Facebook where you can shop any product through your friends and earn cash.

15-20 seconds: What's your USP?

It's fun because it's like running your own virtual store but with real benefits. Active users can also compete to win special weekly prizes, such as "Top Seller" and "Shopcade Celeb".

20-25 seconds: How have you funded it so far?

We have great private investors from the media, retail and game industries. Some were angel investors from my previous venture, Priceminister.

25-30 seconds: What were you doing before?

I co-founded my first company, PriceMinister, when I was 25, which became the biggest e-commerce marketplace in France with 23 million monthly visitors. We exited in 2010 through an acquisition by Rakuten. I also spent time in digital advertising in Asia.

30-35 seconds: Where did the idea come from?

There was no place where you can shop together with friends or people who share your interests. I wanted to give shoppers the ability to curate mini stores to promote their favourite products, much like you see in the streets of Hong Kong.

35-40 seconds: What's the smartest thing you've done so far?

We built the app with social design in mind, so users access products through the activities of their friends and people they follow. That's why you always see fresh and relevant products and stores.

40-45 seconds: What's the stupidest?

We like to do stupid hacking in the office, like secretly placing grandma panties in each other's stores.

45-50 seconds: If your business was a biscuit, what would it be?

A Vienesse Whirl because like Shopcade it has European influence but is a firm British favourite and comprises complementary elements and flavours including two shortbread biscuits sandwiching together buttercream and jam.  At Shopcade we not only have a truly global team but our product also joins together shopping, social media and gaming in one tantalising package.

50-55 seconds: Which idea are you a bit jealous of?

We like fun, user-driven platforms such as X Factor, where real people get celebrated for expressing their personalities and skills.

55-60 seconds: Where are you going to be in 12 months' time?

We want to hear a story that a kid from Manchester sold an outfit to Lady Gaga from his store on Shopcade.

Find out more about Shopcade.com

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