Compare Metrics

Three need-to-meet startups at Shop.org to see the future of digital retail, plus the latest from Bazaarvoice

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.

Listening to your soul

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:

Lola Savannah is the Buck's of Woodside in Austin

Lola Savannah is the Buck's of Woodside in Austin

The most widely shared Lucky7 post that I wrote last month was on the state of the tech entrepreneurship scene in Austin. But I realize now I was missing an important mention.

Back when Debra and I lived in San Francisco, there was a very famous place off the beaten path named Buck's of Woodside. It is a hook-up spot for investors and entrepreneurs. Many large businesses you know today credit Buck's to being one of the conduits to their founding or initial fundraising and Board of Directors formation. I won't give away the tales, but I encourage you to buy the founder's, Jamis MacNiven's, book, Breakfast at Buck's: Tales from the Pancake Guy. It is a fun romp through a slice of insider Silicon Valley history. Jamis is a regular TED attendee andhis blog is fun too. He's seen a lot over the years.

Compare Metrics raises Series A, and I've joined as Chairman of the Board

Today, Compare Metrics announced their Series A funding from Austin Ventures. You can read about it in the Austin American-Statesman article or the Compare Metricspress release. The company is still largely in stealth mode, as you can see from their website. This is something we talked about since I backed the company as an angel investor and Garrett Eastham, co-founder and CEO, read my Lucky7 post on whether to be stealthy or not and took it to heart.

I'm very proud of the team in reaching this major milestone, and I look forward to continuing to serve as the independent Chairman of the Board. If you read aboutGarrett's background, you'll see that he was meant to found this company. Whenever I'm investing, I always value whether or not the founders are destined for their business background wise. Garrett is one of those guys, and I hope you get the chance to meet him soon and experience his passion first-hand. His leadership team is also stellar and I've had the pleasure of working with Chris Richter (VP of Sales), Lisa Roberts (VP of Marketing), and Joel Knight (VP of Client Services) as leaders in the early years at Bazaarvoice. Garrett also worked at Bazaarvoice and was one of our best.

The President and the CTO of the United States visit Austin and Capital Factory

The President and the CTO of the United States visit Austin and Capital Factory

Well, what a week it has been. Speaking of my last Lucky7 post on entrepreneurship being all about the journey, this week has been a one giant leap for Austin mankind (and womenkind, of course).

First, the week started out with an amazing Austin City Limits taping with the band Phoenix playing. Debra and I are annual donors to KLRU and attend these tapings regularly. Debra was out of town for this one, though, and I took Garrett Eastham, co-founder and CEO of Compare Metrics, a company that I proudly serve as their independent Chairman of the Board of Directors. You'll be hearing a lot about this company soon (it is currently in mostly stealth mode, taking a page out of my book - see my Lucky7 post on the weighing whether to be stealthy or not), and I'm having a blast working with them. Here is a photo of Garrett and I at the show. Phoenix was one of the best tapings I've seen - right up there with Pearl Jam, Arcade Fire, and The Lumineers.

The death - and rebirth - of retail

The death - and rebirth - of retail

On January 29, Marc Andreessen predicted the death of retail in favor of disruptive, pure-play etailers, such as Fab.com. A choice quote from the PandoDaily article:

“Retail chains are a fundamentally implausible economic structure if there’s a viable alternative,” he says. “You combine the fixed cost of real estate with inventory, and it puts every retailer in a highly leveraged position. Few can survive a decline of 20 to 30 percent in revenues. It just doesn’t make any sense for all this stuff to sit on shelves. There is fundamentally a better model.”

I've been studying retail ever since I can remember. My parents were retail entrepreneurs from the time I was born, as I wrote about in this Lucky7 post. I've been programming since I was seven-years old, as I wrote about in why I named this blog Lucky7 - in tribute to my mother. I leveraged these two experiences to start my own etailer in 1998 - programmed on an eCommerce platform that I created. And I've founded two large companies to help retailers - Bazaarvoice and Coremetrics. I've also served on the Board of Shop.org for three consecutive terms. So to say I've been thinking about this for awhile is an understatement.