Half of all shoppers are brought in-store through three online channels: search, social networking, and mobile shopping apps.
Until now, no online advertising solution has emerged that focuses on quantifying and increasing in-store traffic for retailers. Prestopolis, a startup that was in the 2012 spring cohort at Montreal's FounderFuel accelerator, offers a method for small and medium retailers to create a catalog of products, push it online and get real customers in-store.
Retailers use the web platform or their mobile phones to simply snap, send and post their products directly into the cloud. Retailers using their proprietary technology have seen remarkable returns on investment both for in-store and e-commerce.
The vision of Prestopolis' founders is to grow a database of products from thousands of physical retailers. Prestopolis will control real-time product inventory from retailers still not online. Prestopolis aims to be the go-to content source for shopping and location-based apps developers.
I interviewed Prestopolis CEO Jeremy Easterbrook to learn more:
LOUIS: What did you learn that helped you the most at FounderFuel?
JEREMY: As soon as we got in the program, FounderFuel helped Prestopolis in three ways. First, accelerate our business. Second, expand our network through FounderFuel's mentors. Third, access growth capital. Also, during the 12 weeks, we grew as individuals, and we got closer as a team.
LOUIS: How does Prestopolis make money?
JEREMY: We are offering simple and low fees: $59 per month plus 10% of ad spend (for example: Google AdWords).
LOUIS: Do you plan to monetize your activities in other ways in the future?
JEREMY: We will expand our basic plan for different retailers while we roll out premium features.
LOUIS: How can Prestopolis get more eyeballs for the products of retailers? Does Prestopolis manage the online and mobile campaigns of retailers?
JEREMY: Prestopolis automates the online and mobile campaigns for retailers. Never such technology was available to small and medium offline retailers.
LOUIS: What is the situation with funding?
JEREMY: Bootstrapping [so far] and proud of it.
LOUIS: What are your objectives for the next year?
JEREMY: We want to raise our Series A, grow to 20,000 retailers through partnerships, and hire two rockstars engineers.