Prizzm

MightBuy is for tracking things you might buy, and sharing with your friends.  

Mightbuy makes shopping your wishilist more fun and social. Mightbuy can deliver deals on exactly what you want, instead of ads for things you don’t want.  The mobile app gives you access to your shopping list anywhere, and allows you to get feedback from friends while shopping.

Mightbuy is the only app that combines wishlists + reviews + mobile deals. 

Mightbuy primarily competes with Amazon universal wishlist  currently, and obviously we won’t put Amazon out of business anytime soon - but we are using some startup kungfu to get around the 800lb gorlilla Amazon (and now Pinterest) 

- Business model

-       Design and social focus – Amazon mostly just personal, Mightbuy is designed for social shopping, getting recommendations. And Amazon looks like… Amazon.

-       Mobile focus – Mightbuy mobile is designed for shopping with pictures and syncing your web bookmark list

-       Passbook – Mightbuy mobile already has Passbook integration, although  Apple has not released the product.  When Apple releases iOS 6, we will be one of the very few apps that can offer it.

Prizzm Inc was founded by Charles Oppenheimer, a second time entrepreneur and veteran of multiple CRM companies including Siebel and most recently Salesforce.com.   Prizzm was founded in Angelpad 2011 class.

Prizzm implements VRM principles (Vendor Relationship Management) and has launched several products in the VRM space, including case management, social reviews for companies, and reverse advertising in the last year since being funded by Angelpad.   Although the VRM principles are very sound and forward reaching, users need to see an immediate benefit of using such a system. Lessons learned: people select products based on features, not grand vision.

Mightbuy is the latest launch, as of August 2012 which has a fresh approach based on the purchase side (shopping) and a simpler pitch than “Reverse CRM” – it is merely, “Track things you might buy”.  The roadmap will incrementing deliver on the Prizzm vision, of empowering each customer.

A second part of the business model we are exploring:

-       Mobile deals.   Mightbuy has implemented Apple Passbook functionality (not yet released yet by Apple, target Sept 2012). With it, users can download a passbook coupon for things they “mightbuy” and redeem them in the real world.  The business model is the same – charging the vendor a transactional fee to deliver a customer.

-       User acquisition through brand offers: by reaching an agreement with some brands, they run an offer to exsisting customers: “Add what you want to Mightbuy, get 50% of your friends to recommend it on Facebook, and we will give you X% off”.  In this way customer are creating their own deals vs the advertising model.

Mightbuy primarily competes with Amazon universal wishlist  currently, and obviously we won’t put Amazon out of business anytime soon - but we are using some startup kungfu to get around the 800lb gorlilla Amazon (and now Pinterest) 

-       Design and social focus – Amazon mostly just personal, Mightbuy is designed for social shopping, getting recommendations. And Amazon looks like… Amazon.

-       Mobile focus – Mightbuy mobile is designed for shopping with pictures and syncing your web bookmark list

-       Passbook – Mightbuy mobile already has Passbook integration, although  Apple has not released the product.  When Apple releases iOS 6, we will be one of the very few apps that can offer it.

 -       (roadmap) #want + #have – Most bookmarking/wishlist sites  only list things you want. Review sites aren’t for shopping – in Amazon you attach your review to store product.  Mightbuy will combine those, making it the place for social recommendations. 

-       (roadmap) – demand based deals.  Mightbuy allows each user to say what they want to buy, for any product. We are aggregating demand, and offering deals on those products. So it is a reverse advertisement – as a user you get a deal on what you want, instead of an ad for something you don’t want.