60-second start-up: Petsy

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

Petsy provides a unique social platform for users to share content and pictures with other pet owners and make new friends (of both the four-legged and two-legged variety). They will also be able to purchase the latest pet accessories and products from Petsy’s own e-commerce platform and keep up-to-date with what’s hot in the furry fashion world.

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

Petsy was developed as an internal startup by the team at Venturespring, a venture development studio that links Petsy with bluechip brands who are interested in selling their products and services through the social platform. We thrive on e-commerce and behavioural advertising revenues.

10-15 seconds: Who are your competitors? 

There are Dogbook and Catbook, which have been around for a while, making them a little outdated and not very mobile friendly. We've researched competitors but haven't really seen anything that is currently offering all of the functionally that Petsy offers, which promotes engagement and creates value for consumers and pet brands as much as possible.

15-20 seconds: What's your USP?

No popular pet-working platform for merchants to target the very lucrative market of pet owners currently exists. Petsy is a solution that allows pets and pet owners to connect, learn, experience and engage. 

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

We’ve received angel investment via our parent company Venturespring. 

25-30 seconds: What were you doing before?

As Managing Director of Venturespring I was focussing on bridging the gap between large corporates and innovative startups, which I’ll continue to do alongside Petsy.

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

Petsy actually started out as a wearable tech pet collar concept, though I always wanted to build social media intelligence into it. After researching the marketplace I realised how lucrative and untapped the pet care vertical was (a billion dollar market with very little pet tech related concepts) and decided that it probably made more sense to build a platform and community where pet tech products, including the pet collar, could be sold.  

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

We strategically built Petsy with certain corporate brand partners in mind, creating a groundbreaking opportunity for innovation to take place and value to be added from both a corporate partnership perspective and a consumer demand perspective.

40-45 seconds: What's the stupidest? 

As a start-up, it’s probably best to make as many mistakes as possible, as long as you learn from every one of them!

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

It’s got to be Cadbury’s Mini Animals, hasn’t it really? Animals plus chocolate - it’s all you need in life.

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

Doga. It’s yoga but with dogs - healthy and very adorable.

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

Our mission is to become the number one social shopping solution for pet owners around the world, as well as launching a few pet stars along the way - watch out Boo.

Visit Petsy to learn more about their app. You can also like their Facebook page.

Catch up with our interview with Cassandra Harris last year where she gives her tips and tricks on mentoring!

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