Former Snapchat and Quidsi execs come up with possible rival to Amazon
Imran Khan, the former chief strategy officer at Snapchat, along with his wife, Cate Khan, who previously worked at Quidsi, have launched Verishop, a new online platform designed to bring “the joy back to shopping.” Quidsi was co-founded by Marc Lore, the current CEO of eCommerce for Walmart U.S., and was acquired by Amazon.com.
Verishop, which features curated collections of men’s and women’s clothing, home and beauty products, offers free two-day shipping with no minimum purchase and free returns as part of its 24/7 customer care.
The site does not include third-party sellers, preferring to purchase inventory directly from brands such as AllSaints, Boll & Branch, Levi’s, Manduka and Spiritual Gangster. Verishop has launched with about 160 brands on board and plans to have more than 300 by the end of the year. Going without third parties enables Verishop to certify that counterfeit goods will not be sold on the site.
The site also features The Responsible Shop, which offers “an assortment of clean and conscious products that make you look and feel good,” and Tastemakers, a collection of items that are recommended by a variety of social media influencers with expertise in different areas. Verishop is working with seven individual tastemakers at launch.
Verishop, A New Way to Shop – YouTube
The company’s leadership team, in addition to the Khans, includes former executives from Bloomberg, Dollar Shave Club and Thrive Market.
Mr. Khan believes that there are plenty of opportunities available in e-commerce and that the model he, his wife and team are developing offers unique features that meet the needs of many consumers in the market.
“E-commerce is only just getting started in the U.S.,” Mr. Kahn told CNBC. “We’re in the first or second inning of it. … I think we are building a business at a time when we are closer to 10 percent [online penetration].”
- About Us – Verishop
- Verishop, A New Way to Shop – YouTube
- Former Snap exec Imran Khan takes aim at Amazon as retail site Verishop goes live – CNBC
- Former Snapchat exec launches an Amazon for luxury goods – Axios
- Verishop, the Startup From Former Snap Head Imran Khan, Officially Rolls Out – Adweek
DISCUSSION QUESTIONS: Will Verishop’s approach to brand curation and customer service set it apart from other online competitors? What do you see as the most significant opportunities and challenges facing Verishop?