Digitally empowered consumers are navigating an evolving path to purchase, while setting a new bar for service, transparency, and authenticity. Access, products, and services are being brought to life as technology unlocks potential and reshapes the way business gets done. Many old guard commerce leaders are saddled by outdated value propositions and infrastructure. Amazon, leader of the 1.0 e-commerce revolution, is 20 years old. Much has changed since then. The consumer has evolved, and the way we do business is in a constant state of transformation. Our primary areas of investment are:
Stand out products and authentic brand experiences are nearly table stakes for today’s savvy consumer. Culture defining change calls for visionary entrepreneurs who aim to define new categories and open new distribution channels by tackling dislocations in the market created by rapidly changing consumer needs and behaviors.
As the roles of brands and retailers are being renegotiated, the industry is begging for new systems, tools, platforms, supply chains, sourcing approaches, and even fresh looks at new business models. This cycle is underway, but innovation in practice has fallen behind need and demand, and we believe businesses supporting this movement operate in the path of opportunity.
Prose, — Investment No. 74