Tuesday, December 1, 2009, AM | Leave Comment
More and more people are turning to shopping online almost on a daily basis. That has been the trend for folks over the last so many years. The two major methods of payments are credit card and the online PayPal, an eBay company. You would think someone has to be crazy to start a company where it helps folks shop offline. It’s a website so you still have to be online to use it for offline purchases.
The name of the company is Milo with a motto “Find it local. Get it now.” It covers every state in the Union, all 50 of them.
“We sort of view ourselves as the opposite of Amazon.com,” said Jack Abraham, Milo’s 23-year-old co-founder and chief executive. “We search the shelves of stores near you in real time.
Mr. Abraham insists that people actually prefer to touch a product before buying it and get it immediately instead of waiting for it to be shipped. They just want to know it will be there when they arrive.”
Of course, the reason that Amazon and other e-commerce sites are growing so quickly is that people want to avoid leaving home and driving to a store.
Milo is a full-fledged shopping experience in a sense that it incorporates other useful aspects of shopping online, like ratings, reviews and price comparisons. Shoppers like that feature. The website makes it less likely that a shopper will go to a store only to discover that an item is out of stock. Plus, shopping local is trendy right now.
Some big-name investors think Milo is on to something. On Tuesday November 24 2009, the company announced that it has raised $4 million from True Ventures and well-known Silicon Valley angel investors including Ron Conway, an early investor in Google and PayPal; Keith Rabois, an early investor in YouTube and LinkedIn; and Aaron Patzer, the founder of Mint.com.
In a Nutshell
Go ahead, Click on Milo and see it for yourself.
What do you think?Facebook.com/doable.finance