PowerBuy ^Company

Today, brands and retailers rely heavily on marketplaces such as Amazon, eBay and Walmart to move inventory. In addition, they spend significant sums with Google and Facebook to drive awareness and traffic, often with minimal ROI. MassGenie helps brands and retailers reduce their reliance on marketplaces, while decreasing their advertising investments with Google and Facebook by leveraging our patent pending Power Buy SaaS and AI/ML. MassGenie’s journey was started in early 2015 by inventor and female Co-Founder, Thu Truong https://www.linkedin.com/in/thutruong/, who created the Power Buy concept and infrastructure. Power Buys are short term, volume-based offers where buyers can use their social media influence to crowdsource demand. We spent two years developing the Power Buy technology, including creating a marketplace to prove the concept. A patent was filed for the Power Buy concept and technology in early 2016. The MassGenie Marketplace officially launched in mid 2017. Utilizing the Power Buy technology, buyers were able to leverage the power of social shopping and sharing to drive prices down. Not only did MassGenie prove the Power Buy concept, our marketplace growth was impressive. GMV grew from $311K in 2017, to $4.6 million in 2018, to $7.7 million in the first half of 2019. MassGenie is now moving onto the next chapter of our journey, which is to make the Power Buy technology available to brands and retailers worldwide. Any brand or retailer with an ecommerce site via Shopify, Magento and BigCommerce or their own custom site, can take advantage of the Power Buy via a SaaS offering. MassGenie has also established strategic partnerships with a number of major ecommerce companies in Asia to help grow the Power Buy concept throughout that region. MassGenie has also been working on our AL/ML engine for predictive analytics and demand sensing for Power Buy. This will allow us to service those brands and retailers that have the Power Buy SaaS technology on their own ecommerce site with AI-driven solutions while delivering optimized pricing and cross-sell, upsell and retention insights.