Business Description:"What is Storrz Storrz is a Social Shopping Mall. Users are able discover, share and shop online with hundreds of stores and thousands of consumers. At the same time merchants are able to easily setup branded stores and reach Consumers online via the powerful e-commerce platform . Problems with Traditional E-Commerce Models: In real life when we go to purchase a mobile , we take our friends along and take their opinions. Further the decision is influenced by the context. eg. a teenager's needs in a phone is different from that of an older working professional. Thus, shopping is a social and contextually driven activity, traditional e-commerce is not. Traditional e-commerce is focused on purchasing rather that shopping. Why is the Storrz Social Shopping Platform Important The Storrz Social Shopping Platform aims to create an ecosystem that creates contexts to shape consumers experiences that are thematic and at the same time very individualized helping consumers make better shopping decisions. The aim is to create invaluable knowledge hubs about products leading to better shopping decisions based on discovery, sharing and a hassle-free pre and post shopping experiences. Storrz currently has over 65+ Stores, with 6500+ products and has already served over 3500+ consumers across India. We are on the path to become one of the most prominent e-commerce players in the Indian Market and soon the World Market: The Indian E-Commerce market was Rs5,600Crores in 2007 with Etailing a mere 12% of the total market at Rs850crores. This market is set to grow rapidly as reliable platforms like Storrz, FutureBazaar etc enter the market. Further the active Internet user base is going to be 100million in India by 2010, with 60% of them potential buyers. "
Industry:IT/ Internet/ Software
Founded in:2007
Source of idea:Wanted it as an individual customer
Significant Competitors:Storrz has No Direct Competition. Two indirect area of competition are provided Social Discovery: Kaboodle, ThisNext, StyleHive [These sites allow consumers to only find new stuff on the Internet but do not allow shopping]
Commerce: Amazon, Ebay, Ubid [These sites focus purely on traditional commerce where consumers are required to know exactly what they want to buy]
Company Details :
Company Name:Storrz.com
HeadQuarters:Bangalore
Stage of the company:Several customers or locations
No of Employees (2006):Did not exist
No of Employees (2007):0-5
Office Locations(2006):Did not exist
Office Locations(2007):0-1
No of companies promoted:No
Profits (2006):Did not exist
Profits (2007):
>Partnerships:HDFC, CCAvenue, SMSJunction,
Initial Funding:Personal savings
Addl Funding:Personal savings
Institutitional Capital:No
Revneue Model:Primary Revenue Source: 10-25% commission on the sale value.
Secondary Revenue Source: Targeted advertisements in the platform.
Awards & honors:Selected to Present at the Proto.in at IIT Delhi in Jul 2008
Promoters Details :
Promoters Name(s):Chandan Maruthi
Age:29
HomeTown:Bangalore
Education:Masters
No of companies promoted:No
Family Background:First gen entrepreneur
Job:Internal Sales lead at Wipro Technologies
Ex-Job Description:Sales
Favorite Book/Movie:The Net
