At first glance, Dote doesn’t look like more than just yet another mobile marketplace for fashion brands. So it makes one wonder what exactly investors are seeing in Dote.
There are “brands that don’t want to put their stuff on Amazon because it degrades their brand,” claims founder and CEO Lauren Farleigh. Further, she adds, “We know that users don’t want to download 20 different apps” to access all their favorite fashion lines.
Her solution is a mobile shopping app that curates from brands like Sephora, Victoria’s Secret and Gap in what the company calls a virtual mall. […]
Here is one reason for that investment. Free publicity through Apple’s reality TV show about apps:
Lightspeed Venture Partners leading a $7.2 million round in the company. Part of the money was secured on Apple’s “Planet of the Apps” startup show.
Reportedly, Lightspeed Ventures saw very high engagement and session times.
Dote also uses a follow feature similar to Twitter et al:
[Users] are asked to select their favorite brands to be notified about sales and offers. Users are shown curated trends, though there’s also a social component where they can show friends what they’re buying.
The company takes an undisclosed share of the transaction revenue when a brand’s products sell through the app.
According to the company, the average user is coming back fifteen times per month.
Dote tries to be just an aggregator. From the FAQ:
Dote solves the problem of having to manage accounts from multiple retailers and makes purchasing from your phone easy. Once you enter your payment and shipping details, they are securely saved so you never have to bother entering them again. […]
As soon as you place the order, Dote sends it directly to the retailer offering the product. We’re like a one-stop shop for all of your mobile shopping needs! In the rare event that an item is no longer available, we won’t charge you a thing and will suggest similar products you might like instead.
Dote only operates in the US right now.
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