in the past decade, the network shopping platform to provide goods is full of beautiful things in eyes, let a person too many things to see, it also makes the most of the user can on the shopping website to buy the things they want. These sites often to sell goods with a detailed product introduction, you can see also buy these goods the customer’s feedback.
for many ordinary users, online shopping platform has been able to satisfy their shopping needs. But for some small and medium-sized enterprises, it’s not enough. Normally, these small and medium-sized enterprise is hard to find they want to buy goods online, even if they find, they can only see the simple introduction of the goods, and not some other user’s feedback. As a result, most of the small and medium enterprises will not choose to buy goods online, they are more willing to in local suppliers to purchase goods. But to do so, they need to constantly negotiate prices with the local suppliers. Even if they shop around before place the order, it is hard to get a more moderate commodity price.
but in order to solve this problem, Kinnek this platform in the small and medium-sized enterprises and provides a connection bridge between suppliers, and suppliers through negotiation negotiation, finally to small and medium-sized enterprises to provide a suitable price. From the market growth rate in recent months, Kinnek do have great prospects for development. At the same time, it’s on the Matrix Partners, and other business website successfully received $10 million in financing, financing, to use the Kinnek can develop new industrial chain, so as to expand its operations.
in addition to the Matrix, the existing investors and Sierra Ventures, Version One, Naval Ravikant, CrunchFund, Richard Chen, TriplePoint these VCS. In addition, Benjamin Ling (a good investment partners) also decided to invest in Kinnek. With investment of Matrix, the Matrix, a partner at Josh Hannah smoothly became Kinnek one member of the board of directors.
why you want to know why Kinnek so successful? Kinnek is actually a market based on the buyer’s demand to form rather than the benefit of the formation of the market according to the seller. And Kinnek want to provide is such a platform, small and medium enterprises list the goods they need, and then Kinnek is responsible for the contact can provide the sellers of these goods.
Kinnek internal system has an algorithm that it can decide which are most likely to provide seller of these goods, then give them a reminder. At that time, the supplier will provide commodity information, including the type of goods and the price they can provide, then buyers can choose among these provide information to sell one. Although such work efficiency is not high, but it is also to the customer can get a relatively fair offer.
co-founder is also the chief executive of Kinnek Karthik Sridharan said in an interview: “in terms of B2B trading mode, every bit of factors will affect the price volatility.” As more and more sellers to provide goods to small and medium enterprises, the resulting competition also on naturally produced. Supplier on price, net is more competitive than local suppliers. But because the price must consider factors such as distance and transportation cost, it is to a large extent affected the supplier offer online.
Kinnek currently has been running for a year and a half of the time, but every month it’s market growth rate can reach 30% 40%. This suggests that Kinnek has a great potential for the development of the platform, it will attract more small and medium-sized suppliers. To know Kinnek success now is just beginning.
nowadays, Kinnek customer base mainly concentrated in several industrial chain, such as restaurant, bakery, food processing plants, hotels, health care companies and small processing plants. There is no doubt that Kinnek goals more than that. It hopes to expand its customer base in the other vertical market, and become all small gathered at the supplier’s enterprise platform.
as a successful investment company, Matrix of financing will not only help Kinnek companies continue to develop, its support is also a major influence on Kinnek. It will also provide Kinnek future development direction of some important advice. In addition, the Matrix investment company has always supported the development of many companies, such as Gilt Groupe, JustFab, there are other e-commerce sites of the same type.