Sometimes startups we meet with (I've personally seen over 1,000 pitches in the last two years) talk about their network effect in a hopeful way. But most of the time it is just that - hope, and hope is not a strategy. But Bazaarvoice actually has a working network effect that benefits all participants: retailers, brands that sell through those retailers, consumers that shop at those brands and retailers, and Bazaarvoice and some of its partners. In other words, the more participants that are on the Bazaarvoice network, the great the effect of that network for the benefit of all. I wrote about this in detail in my first annual shareholders letter after Bazaarvoice became a public company.
Every year I look forward to the Shop.org Annual Summit. It brings together the smartest experts and entrepreneurs working in the digital retail space for discussions about the state of the industry and solutions to some of our biggest challenges. It’s an expansive showcase of innovation and insights.
There are a number of companies exhibiting this year that I’m excited to speak with, but I wanted to highlight three in particular that all of my retail friends should check out: Edgecase, Shelfbucks, and Together Mobile.
In the interest of disclosure, I’m an investor and/or advisor (Hurt Family Investmentsportfolio) in all three of these companies (and also a former three-term member of the Shop.org Board of Directors). But there is a reason I’ve been impressed by these companies and believe in them and their value - and think retailers and brands should as well. They are all transforming multi-channel shopping in important ways. They are focused not only on conversion (still a primary pain-point in digital shopping) but also revolutionizing the customer experience.
Last week was one of the toughest I’ve had. But the struggle was worth it. In Viktor Frankl’s book, Man’s Search for Meaning, he outlines how one’s search for meaning – when conducted authentically – is very hard.
I’m writing to tell you that I’ve decided not to continue to pursue Hurt+Harbach. Please let me be very clear up front on several things: