Invidica bills itself as “Bloomberg meets Shopify,” but this Black-founded ecommerce marketplace is, quite frankly, so much more.
“At Invidica, we’re bringing the type of market intelligence you would typically see in the financial services industry, and we’re putting it in the hands of ecommerce retailers so that our sellers can quickly and confidently capitalize on profitable trends in real-time,” said Sean Bovell, co-founder, and CEO of the company, exclusively. “Our simple interface also allows sellers to order directly from brands through a streamlined portal, so there’s no paperwork and no lag time.”
Based in Oakland, CA, this Black-founded ecommerce marketplace combines sales data from Amazon, with a marketplace where sellers can buy the fastest-selling and most profitable items directly from brands at wholesale prices. Leveraging the data from Amazon, Invidica sellers typically earn profits of 20 percent or more every 30 days, sources tell AfroTech.
What’s more, unlike other ecommerce marketplaces which charge a 30 percent markup, Invidica charges retailers 10 percent of gross sales, as well as a monthly subscription fee between $40 and $500, according to a press release.
One of the early Invidica team members, Haneef Dear, has become so successful as an online retailer that he sold his barbershop and joined the team full-time — and is currently the company’s onboarding specialist.
This level of opportunity is not only unparalleled in the industry, but it’s also empowering to those whose previous criminal records prevented them from getting high-paying, legitimate jobs.
In other news about this revolutionary ecommerce marketplace, they’ve just completed the 500 Startups accelerator program. The most active global venture capitalist in the world has given Invidica a proverbial leg-up in the market, allowing it to grow and change with the times.