One of the companies that competed with my Angus idea just raised $9 million in funding...wow. Back in mid-July, I was still working on Angus, which was advertising at the point of sale. I was attempting to solve a common ecommerce problem called, shopping cart abandonment. This is the problem where shoppers add items to their cart and then decide to checkout, but for different reasons, they decide to leave the retailer's site. While investigating the advertising market and the different business models being used, I came across BazaarVoice, whose business it is to compile consumer product reviews.
I did a SWOT analysis for Angus back then and wrote that BazaarVoice was one of Angus' competitors in the mature market for influencing consumer purchases. I'm not sure whether I'm happy that we set aside the Angus idea, because of this company's recent funding acheivements, but it's kindof neat to see that the analysis was purposeful.
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