A couple of Oxford graduates have hit the big time with their startup company based in Dublin, Ireland. Mark Cummins and Charles Bibby, founders of Pointy are the brains behind the operation. They both have PHD’s in robotics and graduated Oxford. Cummins was responsible for co-founding Plink, a visual search engine company which was taken over by Google in 2010.
They have managed to secure funding from some of the worlds most famous entrepreneurs including the founder of WordPress, Matt Mullenweg, Googlemaps co-founder, Lars Rasmussen, Michael Birch, co-founder of Bebo and Taavet Hinrikus, co-founder of Transferwise.
Seed funding from venture capital firms such as Draper Associates, Frontline Venture and Paul Allen’s Vulcan Capital has contributed to the substantial funding.
What is the Pointy? It is a device that connects to any retail stores barcode scanner and uses all the data of what is in stock to present the products online. Pointy itself is a system which has been designed and optimised for use within search engines where the stores involved will rank higher in search engines. The outcome is a boost in sales, online presence in search engine results and maximum local business.
Annoucing our $6m funding round! https://t.co/TS2fpJXDxM
— Pointy (@getpointy) September 21, 2017
Let’s get to the point here, in that everybody wins by shopping this way. Locals can cash in by saving on delivery charges, the retailers gain more business and local communities will prosper.
Shopping local will help communities and help small business to be seen above the big corporations who basically swamp the market such as Amazon and Ebay and make it hard to get noticed.
Due to the fact that so many more people shop online nowadays due to price comparisons and stock availability all at the touch of a button from home, this also gives the smaller retailers a chance to get a look in on that end too.
The great thing is that because it is all hooked up to a barcode scanning system, the stock availability is there and price comparison can be done by the shopper online also.
The fact that Pointy points the buyer to the store nearest to them, it encourages people to visit the store. For instance, if a customer checks for a product online and sees that it is available in a shop close by, they are most likely to go there and save time and money. Another win-win situation for everyone involved.
Packaging costs are also reduced and the environmental impact is significant.
The algorithms in the software are built to estimate when and if the stock will be replenished also, so even if its not in stock on the day, it will no doubt update you of its arrival date.
From a retailers point of view, it is a real no-brainer, as its a flat fee to purchase the Pointy device and the revenue involved basically means it pays for itself quickly and thats it! They never have to pay again. No monthly or annual fees and just a surge in business and optimum search results online.
It is simple to set up, all the work is done for you and it’s all automatic!
The great part about that, is that its available to the business owners who are less tech savvy or up to date with online presence etc. Again, giving power to the smaller businesses in communities that are so often unnoticed.
No wonder Pointy has hit the big-time. Its already in use in Ireland and now in use by local retailers in 48 states in America.
Check out the website and watch the video testimonials of happy business owners and their success so far here pointy.com
If you like this article you may also be interested in this similar up-and-coming concept.
I know I would get Pointy if I were in the retail business, thats for sure!
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