Blend's business model involves three components: shoppers, influencers, and brands. The company earns revenue by taking a commission on sales from partner brands and retailers. In the future, Blend plans to allow transactions to be completed within the app for a more seamless user experience. The company also plans to launch a subscription service for additional premium features. The startup's co-founder, Jemima Bunbury, believes that the company's granular style-specific dataset will enable it to put the right brands in front of the right users.
Key takeaways:
- Blend, a U.K.-based startup, uses AI to provide personalized product recommendations for online shoppers, based on their style, budget, and size.
- The startup has partnered with over 250 retailers and targets users aged 18 to 34. It plans to launch in the U.K. first and then expand into the U.S. market.
- Blend's AI model uses transformer technology and recommendation algorithms, which are largely powered by user interaction data. The more a user interacts with the app, the more personalized their recommendations become.
- Blend's business model involves taking a commission on sales from partner brands and retailers. In the future, the company may also launch a subscription service for additional premium features.