In a bustling retail landscape, Yaysay, a New York City-based startup, is making waves. The company has just announced $10.3 million in venture funding, with Lightspeed Venture Partners’ Alex Taussig leading the charge. Yaysay’s mission? To redefine how we shop, infusing it with elements of fun, surprise, and personalized discovery through their innovative AI-powered shopping app.
Crafting a Unique Shopping Experience
At its core, Yaysay pioneers a new mobile shopping paradigm that caters to each user’s preferences, thanks to the power of AI. The app leverages AI to curate a personalized fashion feed, offering users the perfect items at irresistible prices. It takes inspiration from social media, dating apps, and gaming interfaces, creating a unique blend of competition, luck, and limited supply to provide an exhilarating shopping adventure.
Recent statistics highlight the alignment of Yaysay with modern consumer habits, as 71% of Millennials regularly check social media sites multiple times a day, and half use dating apps daily. Yaysay taps into this digital era’s spirit, offering an engaging and dynamic shopping experience.
The Why: Reinventing the Retail Landscape
Yaysay’s arrival comes at a time when the convenience of online shopping often overshadows the thrill of discovery. Lindsay Ferstandig, Yaysay’s CEO, articulates the company’s mission perfectly, stating, “While mobile shopping is convenient, it is generally uninspiring for brands and consumers alike. With Yaysay, we are creating an elevated brand experience that brings the joy back to shopping, transforming deals from the most covetable brands into addictive bites of fun.”
Key Features & Unique Positioning
Ever-Changing Inventory: Yaysay offers a shopping experience like no other. Its inventory is in constant flux, with a refreshed feed of substantial discounts on sought-after brands every day, making each visit feel like a new treasure hunt.
An Elevated Brand Experience: The platform features only the most coveted brands, breathing new life into overstock inventory while protecting the brand perception. For brands dealing with excess inventory, Yaysay serves as an ideal liquidation partner.
Streamlined Shopping: Yaysay’s 5-minute daily habit eliminates distractions and interruptions, increasing conversion rates and eliminating the need for price comparison. This aligns perfectly with modern shoppers’ preferences for efficiency.
Tapping into the Off-Price Market: Yaysay aims to tap into the $100 billion per year off-price market, where only approximately 3% of sales are currently online. This opens up a world of possibilities for both consumers and brands.
The Yaysay Founders: A Winning Combination
Behind Yaysay’s innovative approach are visionaries like Philip Krim, Co-founder, and former CEO of Casper, and CEO Lindsay Ferstandig, a former Stitch Fix executive. With $10.3 million in funding, Yaysay has launched its Beta version, accompanied by a waitlist that grants consumers an early glimpse into this transformative shopping platform.
Philip Krim notes, “The $100B+ off-priced retail market for new goods has been relegated to offline stores until the launch of Yaysay. Thanks to technological leaps in AI, supply chain technology, and mobile app development, we are finally able to bring the ‘treasure hunt’ experience online.”
Visionary Investors Backing Yaysay
Yaysay’s journey into the future of retail has garnered the support of visionary investors, including industry stalwarts such as:
- Kevin Hartz, Founder of Eventbrite
- Alexandra Wilkis Wilson, Founder of Gilt Groupe
- Rati Sahi, Founder of The RealReal
- Julie Bornstein, Founder of The Yes
- Shira Suveyke, Executive from ShopBop, Outnet, and Gilt Groupe
- Gaurav Jain, Founder of Afore
- Moshe Lifschitz, Co-Founder of Shrug Capital
- Emily Heyward, Founder of Red Antler
Yaysay in a Nutshell
In a world where shopping can sometimes feel mundane, Yaysay offers a fresh perspective. Their AI-powered discovery-driven shopping app brings the thrill and delight of off-price treasure hunting to the digital realm. With iconic brands, daily updates, and “I don’t believe you” prices, Yaysay is set to make a splash in the world of online retail.
TL;DR
Yaysay, backed by visionary investors, introduces an AI-powered shopping app that reimagines the retail experience. Leveraging AI, Yaysay creates personalized fashion feeds for users, offering unbeatable prices and a sense of adventure. With an ever-changing inventory and a focus on coveted brands, Yaysay aims to tap into the $100 billion off-price market. Founders Philip Krim and Lindsay Ferstandig have secured $10.3 million in funding to launch the platform, with the Beta version now live, allowing consumers to embark on a transformative shopping journey.
Hi, I’m Oren, founder at BIGINTRO, a content strategy agency that helps B2B companies drive growth. We develop search, social, PR, and content marketing strategies tailored to business goals. I also have a dog named Milo.