Encore is currently processing over 50,000 searches per month and experiencing significant growth. The company primarily generates revenue through affiliate shares but is also testing a $3 per month subscription model that offers unlimited searches with advanced models, the ability to find items by uploading images, and support via email and chat. The secondhand retail market is projected to reach $73 billion in the U.S. and $350 billion globally by 2028.
Key takeaways:
- Former Apple and Twitter engineers Alex Ruber and Parth Chopra are building Encore, a search engine for secondhand items from various sources, aiming to solve the problem of finding the right product online.
- Encore uses AI-powered search technology to allow users to type detailed queries and get matches from multiple resources such as Poshmark, the RealReal, Grailed, Etsy, and eBay.
- The secondhand retail market is projected to reach $73 billion in the U.S. and $350 billion globally by 2028, with online secondhand resale expected to account for half of the market in 2025.
- Encore currently processes over 50,000 searches per month and is seeing significant growth in searches and clicks. The startup is experimenting with a $3 per month subscription for unlimited searches with advanced models and additional support.