HangTrend.com

HangTrend is a place where users can explore the newest fashion items, share them with friends and get recommendations for new outfits.

   

Today, we have interviewed Mr. ‘Leore Avidar‘; Founder of the US (Ann Arbor – Michigan)-based start-up “HangTrend” about his company.

“HangTrend” is a place where you can explore the newest fashion items, share them with your friends and find inspiration for new outfits.

Below is the full interview that we have conducted with Mr. ‘Avidar’ regarding his start-up company ”HangTrend”;

1. What is it exactly that you do and what “HangTrend” is all about?

HangTrend is a place where users can explore the newest fashion items, share them with friends and get recommendations for new outfits.

Hangtrend has over 1 million products from 10,000+ brands.

Users can find clothing and accessories that they like and add them to their “Closet”. The closet is a way for users to express themselves, add items they like, own, or want to own and showcase their style to their friends.

2. When has “HangTrend” been founded? And what stage is “HangTrend” currently at?

HangTrend was founded in December 2011.

Our product is currently in Beta phase but we are swiftly moving toward getting our product to the next level.

HangTrend is currently in the process of raising some seed financing and is actively looking for strategic investors.

We are currently a small team of business and engineering professionals looking to grow and take our idea to bigger markets.

3. What is “HangTrend”’s business model and how does it work?

The business model has 3 main revenue generators.

1. Affiliate Marketing – Every product on our site is purchasable; we’ve partnered up with the 4 largest Affiliate Marketing Programs (Google, Amazon, LinkShare and Commission Junction) to ensure all of our items are available. On average, we receive about 13%. Currently have over 10K Brands and 1M products growing daily.

2. Dynamic Targeted Marketing – This is our proprietary revenue stream. Our algorithms allow us to quantify a user’s style. Using this quantification, we are able to offer retailers direct product placements to target demographic users whose style correlates well with their products.

3. Data Analysis – Based on product and user data we collect, we can offer trend forecasts and analysis, User preference analysis and competitive analysis (general or product-to-product)

4. How did your team meet? And who in your team does what?

Val and Leore were college roommates and met Enea through a mutual acquaintance.

Val is in charge of all things related to Business Development. He focuses on Marketing, Sales, User Feedback, and partnering with top tier retailers for our site.

Enea is in charge of all things technical.

He leads our development team and solves all problems related to the the web.

Leore is the project manager of the group. He works with everyone to make sure everything gets done correctly and on time.

He develops and creates all the back-end algorithms and ensures our project gets in the hands of the right users.

5. What, exactly, makes you different from existing options, what will make your product and/or service stand out in the marketplace? In other words what’s unique about you and what’s new about what you make?

Our secret sauce is two fold.

Our proprietary algorithms are able to quantify a user’s style and based on their style we are able to recommend them new and relevant products that they ultimately would wear and purchase.

Our recommendation engine is unlike anyone else’s and since we have so many items on our site you are not limited to one brand or one style.

On hangtrend you can get introduced to new products and find stuff that is your style and in your price range.

Secondly, we have created a trending and trend setter software that helps us determine new trends and what users set those trends.

This information is extremely valuable and retailers are willing to for this information.

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