Best Startup
Psydro is worlds first social review platform, we allow users to speak directly peer to peer about companies and products, this obtains real genuine feedback as people trust people rather than marketing hype.
We also allow our users to shop products directly in our marketplace for a discount. We allow companies to list their products for sale and use a suite of user friendly tools to gain insights that grow their revenue and business. Our mission is “We help consumers spend wisely”
Tell us about yourself?
I have always been involved in entrepreneurship and looked at scenarios differently from my family and friends from what i can remember. I have been involved in many projects along the way, some failed and some were very successful.
Around 5 years ago i was involved in e-commerce and noticed importance and upward trajectory of reviews, we wee pretty underwhelmed with what was in the market at that time and decided to embark on a journey to build a platform which would help both businesses and everyday consumers.
If you could go back in time a year or two, what piece of advice would you give yourself?
If you are happy the product is good enough to launch, you have launched too late, fail cheaply and quickly and move on.
What problem does your business solve?
From a company perspective we enable them to sell more products as well as capturing feedback and insights that grow there revenue and business.
From a consumer perspective we allow them to get the real low down on company or product by connecting them with people who have already experienced it.
What is the inspiration behind your business?
There as too many to mention but i would say all of the platforms people use that add REAL value to their operations or business. The platforms that you can simply not live without.
What is your magic sauce?
Social Proof and gamification. By connecting people peer to peer to help one another is great, but then adding another layer of incentivisation via gamification really keeps the community very engaged.
By helping each other and adding value to the community we awards points that allow you rank up, these points and rank can be redeemed for unique discount when shopping products inside our marketplace
What is the plan for the next 5 years? What do you want to achieve?
We would like the marketplace to become a nationwide online shopping destination in the UK, a real value add for consumers shopping for unique discount and a value add to UK ecommerce brands where they can list quickly and easily for no fees or subscriptions
What is the biggest challenge you’ve faced so far?
Being a start up in this sector technology evolves quickly and our competitors are extremely well known and wealthy. We have found having to prioritise development that keeps us competitive but inside budget an ongoing problem. Amazon better watch there back if we raise a series A 🙂
How do people get involved/buy into your vision?
We want UK online sellers to join our revolution, there are no barriers to entry and you can sign up quick and easy at business.psydro.com – alternatively i can be contacted with any questions at aw@psydro.com
