Vatorx2
WholeSplit
Location: 7901 Northforest St., Austin, Texas, United States United States
Founded in: 2016
Stage: Post-launch
Number of employees: 6-15
Funding history:
- Date: 01/2016, Accelerator/Incubator: $150 k
Short URL: vator.co/wholesplit
Followers (2)
Vatorx1

WholeSplit

Crowdfunding Wholesale Platform - The People's marketplace
Startup/business
Austin, Texas, United States United States
https://www.wholesplit.com/
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Company description

We realize big brands are having less power nowadays in terms of their building and maintaining that further connection with the end users/consumers. This notion gave us the idea to build WholeSplit, a crowdfund wholesale product marketplace. Our platform provides rock-bottom price for consumers and direct consumer pipeline for manufacturers. 

One of our goals to provide global manufacturers the ability to directly access consumers (therefore cutting the high cost of branding and offer the exact same quality product at a way lower premium).

WholeSplit crowdfunds wholesale purchases by aggregating individual consumer purchases. We provide rock-bottom price for consumers and direct consumer pipeline for manufacturers. Users pledge to purchase products. Once a minimum number of pledges are submitted, the products are purchased from the manufacturers and shipped directly to the consumers. We have made some decent traction on the user acquisition and retention fronts.

  • 15% to 20% user retention rates, averaging 16.5% depending on ad spend
  • 5% pledge conversion rate so far, with only 2 month and ~$6,000 spent on advertising
  • Collaborated with 10+ Asian manufacturers (some are providers of products for Sharp, Samsung and other well-known brands)

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Team
  • Mina J Hanna
    Mina J Hanna | Team member
    VLSI CAD software consultant, semiconductors and nano-manufacturing expert, published science advocate and policy wonk
Business model

 

•WholeSplit empowers consumers by providing them below-wholesale prices on high quality products, backed by warranties that we issue directly.
•WholeSplit empowers manufacturers by allowing the manufacturer to sell products under their own brands and trademarks, directly to consumers.
•WholeSplit provide rock-bottom price for consumers and direct consumer pipeline for manufacturers.