|Description||Business to customer shopping platform|
|Seed, 1/06 |
|Series A, 6/07 ||€625k|
|Angel, 4/08 ||€670k|
Gimahhot is a new kind of online shopping platform. It’s the world’s first B2C (business to customer) platform on which brand products are traded like on the stock exchange. Hundreds of online merchants offer their products on this platform. Users can buy at the current offer price from the cheapest of the registered merchants. The whole order and payment process is conducted by Gimahhot, while the merchant’s only obligation is to deliver the package to the customer. The user’s advantage is that he doesn’t have to signup with all those different shops. Instead he buys everything at Gimahhot.
The new and unique thing about the buying process is that prices are genuinely determined by supply and demand. Not only can the users buy at the offered prices, they can place bids as well. Unlike in an auction, those bids are not placed for a single auction of some merchant, but they are open to the whole market. Everyone of say - 45 merchants that offer a green, 4 GB Nano iPod - can react on a bid that a user has placed for that product.
Reactions to user’s bids can be set up to be processed automatically: Merchants can configure several options, e.g. “I accept all bids that are up to 3% below my offer price.”