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Flocktory is a Russian B2B startup which aims to help online businesses increase their sales by providing discounts to customers who refer others. This enables online stores target their most influential customers with optimized messaging and highly customizable discount and reward system.
The company is based in Moscow, its website is only in Russian, but Flocktory co-founder Ilja Eisen, Vienna-educated former consultant at Roland Berger & Booz & Co says that the company is looking at other regions.
The essence of this business is in driving sales by providing customers with an incentive to purchase and to encourage their friends and connections to the same. Flocktory allows a business to create a script (within 7 minutes, it claims), which will be shown to the customer at checkout. At this point, customers will be offered rewards for encouraging friends and connections to shop with this businesses. It also offers analytics, a single interface for email and social media management. A US analog of Flocktory is Y-Combinator-backed 500friends, and there are others.
Other members of the founding team Dmitry Matzkevitch has built in one of the largest Russian ecommerce website Wikimart, and its American-born CTO Simon Project is a former CEO of Brightstart Russia, a telecom consultancy firm.
In terms of funding, they’ve raised $225,000 (171,000 euro) in seed money and are putting together a new round of $1.5 million (1.1 million euro). Eisen tells us that their clientele thus far includes businesses like s7 Detsky Mir, Shoptime, Groupon, and Kupikupon. Eisen says that they’ve already added more than 50 Russian online retailers and expect to add dozens more in the coming weeks. They won 1st runner-up at IDCEE 2012 and earned 10,000 euro as their prize, so they’ve already received a bit of attention.
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