[FW Radar] Tapbuy wants to boost mobile purchases
Created in 2015 by Olivier Cotinat and Philippe Huysmans, Tapbuy is a platform that aims to optimize the shopping experience on mobile. It allows ecommers to make their products available for purchase on all their platforms: a blog, Facebook, or even WhatsApp. More details with Olivier Cotinat, co-founder of Tapbuy.
FrenchWeb: what needs does your service meet?
Olivier Cotinat, co-founder of Tapbuy: Tapbuy addresses the problem of mobile conversion. For two years, mobile traffic has exploded and represents nearly 40% of e-commerce site traffic in France. But, mobile sales, even if they are increasing, barely represent 10% of e-commerce. The main explanation is that the mobile shopping experience is far from perfect (page loading time, five-step tunnel, complicated forms, etc.), with increased complexity with the number of different terminals (screens, operating system version etc.). France is not an isolated case: e-merchants in Europe and the United States lose nearly 150 billion dollars in sales each year due to a purchasing experience not adapted to mobile. And it is the entire ecosystem that suffers: even if payment players (Ingenico, Stripe, Adyen, Paypal) invest heavily to optimize the payment part of the mobile, this is not enough because the problem is upstream. Result: they also lose more than 2 billion per year.
What’s your value proposition?
We enable e-merchants to offer a 100% optimized mobile shopping experience, from the product page to the payment page. The Tapbuy shopping tunnel continuously integrates the best market practices and can be triggered from any discovery environment: from a blog, an advertisement, a social network, an app or even an email; it can also be installed directly on the e-merchant’s mobile site. We are increasing mobile conversion rates from 20% to 30% on average for already mature players.
Who are the users of your solutions?
We are a white label SaaS technology platform: we are aimed at e-merchants who want to boost their conversion on mobile. Regardless of their size, e-merchants tell us the same thing, “my mobile traffic is exploding but I can’t convert it ». They must therefore offer an optimal mobile shopping experience that allows them to increase their conversion rates and therefore their sales. We still encounter e-merchants who believe that having a mobile app will solve this problem, but only 10-20% of their most loyal customers will use it. The bulk of the traffic will stay on the web.
E-merchants also want to be able to sell their products where their customers discover their products, whether from a blog, a media site, an Instagram post or an advertisement. Through our network of publishers and our solution of “direct checkout”, We offer them this possibility.
Who are your competitors?
Today, our main competitor in France is the choice so far imposed on e-merchants, to internalize the management of the purchase tunnel, which is ultimately a very specific skill and which is however not the heart of their profession. Internationally, we can cite the initiatives of Paypal Commerce, Stripe Relay, the Buyables Pins of Pinterest, or the Buy buttons of Facebook or even Google. We are an agnostic solution: tomorrow, an e-merchant who wants to sell directly on Facebook, Pinterest, Google or Instagram will be able to do so simply via our solution and manage everything centrally, whether he uses Demandware, Prestashop, Magento, SAP Hybris etc.
What is your development plan?
We are continually improving the product to adapt to the latest terminals or technological developments. Today we have a strong demand on the native application side: we will soon be offering a mobile SDK to publishers of mobile applications so that they can integrate Tapbuy natively. Many e-commerce or marketing teams at our customers want to be able to customize their tunnel more easily: we are going to launch a CMS (Content Management System) version of the tunnel which will be very easy to use.
Finally, the international is also a priority for us with in particular Germany, England and the United States where we already have many incoming requests.
What are your challenges?
Our different challenges are:
- Market / business: continue to evangelize and target the market retail which is very fragmented with players of very different sizes. E-merchants often underestimate the cost of setting up and especially maintaining a high-performance tunnel, especially if they are present in several countries.
- HR: strengthen our teams business development and international marketing in 2017.
Founders: Philippe Huysmans and Olivier Cotinat
Creation date : 2015
Fundraising : $ 6.1 million from Candel Partners, C3P Capital and Merifin Capital
Seat : Paris
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