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ShoeBio Inc.
Location: Corvallis, Oregon, United States United States
Founded in: 2017
Stage: Pre-launch
Number of employees: 6-15
Short URL: vator.co/shoebio-inc
Followers (9)
Awards and mentions
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Thursday's top prize went to an Oregon student named Benjamin Steinhorn and his sneaker startup. He co-founded ShoeBio, a sneaker search engine that operates similarly to hotel-searching sites. Steinhorn and his partner earned $2,000 and a trip to the national competition in Denver this January. The competition is sponsored by The Entrepreneurs' Organization.
Vatorx1

ShoeBio Inc.

Take Control of Your Sole
Startup/business
Corvallis, Oregon, United States United States
http://www.shoebio.com

ShoeBio, Inc. is a revolutionary state of the art footwear discovery platform that allows the consumer to “take control of their sole.” Our free service was created with the goal in mind to help empower consumers and maximize their buying experience.

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Company description

ShoeBio, Inc. (SBI) is a state of the art footwear discovery platform that allows the consumer to “take control of their sole.” Our free service was created with the goal in mind to help empower consumers and maximize their buying experience. We search and validate hundreds of sneaker websites, finding the consumer the best price on their desired sneaker. We provide the most intuitive online shoe shopping experience, blending technology and software into a user-friendly platform. 


https://drive.google.com/open?id=1M4ho5QLPdvu6Qh7_gCsb11se5WkqiqQ1

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Team
Business model

Our business model is quite simple. Think of ShoeBio as the "Kayak" of sneakers. We aggregate data from hundreds of different shoe vendors and sneaker boutiques and find the user the best price on that specific sneaker. The first stream of revenue comes from the Affiliate Model. Over the last several months, ShoeBio has partnered with over 140+ different stores to get an average of 7% commision on ever sale and $0.13 per click. 

We don't hold any inventory (which cuts down on costs) and we don't process any payments (drasticaly limits liabilities). We make money though clicks, advertisements and affiliate payouts. We also have plenty of other possible revenue streams in the works, but that is confidential currently.

Competitive advantage

In the current online marketplace, the authenticity of product is difficult to ascertain. Many a Sneakerhead has been scammed by unethical and dishonest dealers. Through careful screening, ShoeBio verifies honest dealers while restricting bad actors from access to the platform. For the Sneakerhead, the shoe is but a single aspect of the synergistic interplay between vendor and buyer, amateur and influencer. As Shoebio reduces barriers between buyers and sellers, the platform facilitates growth of an open, increasingly knowledgeable collective community.

Our primary competitive edge is our first mover advantage. This a $2 Billion annual market ($246 Billion global market) with limited competition. The two US based websites (and one based in Italy) are difficult to navigate, limited in scope and narrow in customer filter preferences which is the hallmark of a successful online aggregator. US consumers in this space are adverse to international purchasing for a number of reasons.

Addtionally, ShoeBio has a plethora of different features and tools that are there to enhance the user's experiance. They are in place to increase the chances of the user finding the best price as well as giving the consumer a better UX during their time on the site.