NETXCHANCE was created after the sale to Portobello in 2010 of Multiasistencia (owned by Allianz). Since then, NETCHANCE has acted as an investor promoter of digital businesses. He is an active investor in Portobello’s own funds, Kibo Ventures, Axon Partners and Samaipata, as well as directly in various companies in the sector. As a business promoter, his current portfolio is made up of IESA; therapychat; Billionhands, currently in full launch, and Klisst, still in the incubator. NETXCHANCE also participated in the development of the Red Refrigerator, being its largest shareholder at the time of the sale.
What is Billion Hands?
Billionhands is a visual recognition App that allows you to find and buy any fashion item quickly, comfortably and easily. The application proposes shopping in a revolutionary way, based on inspiration and immediacy, thanks to its powerful Visual Search technology, which instantly discovers millions of items and trends.
How does the app work?
A photo or screenshot of the garment is taken; After this, said image is uploaded to the Billionhands application; the application shows a selection of the same or similar garments with different prices and, finally, the desired product is chosen and the application redirects to the firm’s e-commerce through a link, being able to directly purchase the product. The result is a fast, easy and comparative purchase between thousands of different brands, prices and businesses for consumers; while sellers increase the visibility of their online commerce and the conversion rate, and they only have to register and publish their products.
Where did the idea of creating Billionhands come from?
At the beginning of 2019, together with the team, we began to shape a project that had been in our heads for some time: devising a dynamic and interactive online search engine that was capable of adapting to the needs of users. We were looking to achieve a platform that would put millions of products at various prices in your hands to make shopping a unique and rewarding experience like never before. In the era of immediacy and overstimulation, capturing the public’s attention becomes a challenge. We want it all and we want it now. And this is what we have achieved with Billionhands: a revolutionary way of buying that instantly fulfills the wishes of each user, putting a wide offer and the latest technology at your service.
How do you plan to meet the expectations of being considered the Shazam of fashion and decoration?
The basis of everything is to have a list of brands and firms that is updated daily. It is an arduous task, but essential. In this way, the team daily carries out a meticulous search for new firms in the sector’s media, social networks, from the same influencers… so that the database grows as a living organism and in constant evolution. At the moment, our priority vertical is fashion, with more than 7 million products and 5,000 brands and portals in Spain. The businesses present in Billionhands range from large sellers to more niche brands, the only requirement is that they have a quality online offer. And with the same premise we will work to amplify the decoration and home vertical in this second semester of 2021.
What are your short-medium-term goals?
The goal is that, by the end of the year, 100 million photos are broadcast per month in Spain.
How has the reception been by the public in these early stages of the project?
The reception in this first month, since the launch on June 1, has really been very positive. In less than a month we have achieved a total of 600K visits (web + app), 110K downloads (14K on Ios, and 96k on Android). Of these downloads, it should be noted that 72.6% are women and 27.4% are men. It is very logical, for example, that the majority age range that BH is already using is 18 to 45 years old, a consequence of the use of social networks, the campaign that we are carrying out with influencers…
Products, such as luxury ones, are sometimes difficult to recognize by these search engines. Do you recommend similar options to the product or are you able to find everything?
Thanks to our database, which we constantly update, and which today has more than 7 million products and more than 5,000 brands, we can offer a comparative proposal of the same or very similar products. In the event that we cannot find the specific product, because it is from past seasons, for example, the tool offers products that are as similar as possible and in different price ranges, so that they can be adapted to all needs.
In what aspects do you differ from your competition?
Billionhands is a unique shopping space thanks to its offer and catalog depth. Unlike other players that have a visual search based on their own product catalog, we gather the catalogs of any store in the world, a unique database, which guarantees that the user finds the desired product or many other very similar ones that also may interest.
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