60-second start-up: StorkUp

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

StorkUp is a social shopping community for mums.

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

We bring together brands, merchants and consumers.  The way this works from a user experience is very innovative, but the underlying methods of monetisation are fairly conventional - CPM, CPC and CPA.

10-15 seconds: Who are your competitors?

We are competing for the ad spend of some of the largest brands and retailers in the country, so we see our primary competitors as being parenting sites offering classic display inventory, as well as various other emerging social shopping startups.

15-20 seconds: What's your USP?

Our focus on a deep niche, that is currently relatively under-served, and which we have extensive personal experience.

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

We were self-funded for 12 months, but have recently closed a significant strategic investment from Bauer Consumer Media (owners of FHM, Heat, Grazia, etc).


25-30 seconds: What were you doing before?

Running a range of different businesses including an eCommerce site that grew to 250,000 customers and £7m+ in turnover in less than three years.

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

No single act of inspiration!  We've worked in eCommerce and comparison shopping for a decade and StorkUp is an evolution of our ideas in how to better connect merchants, brands and consumers.

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

Applying for and pitching at Seedcamp (www.seedcamp.com).  We got as far as their investment committee, but without a product at that stage we were declined. However, our presence at the event led to Bauer Consumer Media getting in touch six months later.

40-45 seconds: What's the stupidest?

In a previous business we were so focused on diversifying to mitigate against having our eggs in one basket, we spread ourselves too thinly. There is actually no harm in having your eggs in one basket - as long as you watch the basket carefully!

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

Shortbread. Global appeal, but very proud of our Scottish roots.

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

Ideas are easy. What counts is execution, and we are hugely respectful of businesses that have killed on execution. Facebook was one of hundreds of social networks for students, Google one of dozens of competing search engines.

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

Series A closed, launched in the US, revenue growing!


For more information head to http://storkup.com

 

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