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January 24, 2014 10:25 am GMT
Toronto-based startup ShopLocket, an e-commerce platform originally designed to let anyone sell anything from a single item to a line of goods quickly and easily via their existing presence on the web, has been acquired by an unusual suitor: PCH International, the company founded by Irish entrepreneur Liam Casey that has made its name operating as the go-between for major electronics brands and their Asian supply partners and manufacturers. The exact terms of the deal, under which ShopLocket will continue to operate under as a sub-brand, are undisclosed. “It’s a good deal,” said Casey. “Everyone’s really happy.” The match seems odd at first, but makes sense in light of recent developments at both companies: ShopLocket, run by TC Hardware Battlefield judge Katherine Hague, recently launched its own pre-order sales platform to help hardware startups capitalize on the inertia generated by crowdfunding campaigns, before they reach the stage where they’re able to sell shipping product. There’s a lot of interest coming out of successful Kickstarter campaigns, after all, but often nowhere for that interest to go as startups rarely have the means in place to continue collecting orders after their crowdfunding drive has ended. Perhaps more importantly, ShopLocket alsos provide a full-fledged alternative to a Kickstarter or Indiegogo-hosted crowdfunding campaign if a startup was interested in going it alone. Casey said the company “closes the loop” that begins at his hardware accelerator, Highway1, giving startups a complete solution for creation, development and sales of their products. “I picked them for the passion they have for what they do,” Casey said. “They have a passion for the entrepreneur’s journey and an ability to build an authentic relationship with the community.” Companies are often interested in building their own hardware Kickstarter projects, Casey told us, but they lack the ability to continuously provide accurate and authentic updates about where products are at in the development cycle, and that’s a huge challenge for these startups. PCH and ShopLocket can use their combined expertise to help on that front, which will hopefully result in stronger, more satisfying crowdunding experiences for the people actually buying the products. PCH International has recently shone a spotlight on its interest in hardware startups in other ways, too. The company is showing off the first cohort of its new early-stage hardware startup accelerator called Highway1 at a demo day next week in San Francisco. Highway1 offers classes of around 10
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/07RN8ot1_30/
PCH International Acquires ShopLocket To Close The Loop For Hardware Startups
Toronto-based startup ShopLocket, an e-commerce platform originally designed to let anyone sell anything from a single item to a line of goods quickly and easily via their existing presence on the web, has been acquired by an unusual suitor: PCH International, the company founded by Irish entrepreneur Liam Casey that has made its name operating as the go-between for major electronics brands and their Asian supply partners and manufacturers. The exact terms of the deal, under which ShopLocket will continue to operate under as a sub-brand, are undisclosed. “It’s a good deal,” said Casey. “Everyone’s really happy.” The match seems odd at first, but makes sense in light of recent developments at both companies: ShopLocket, run by TC Hardware Battlefield judge Katherine Hague, recently launched its own pre-order sales platform to help hardware startups capitalize on the inertia generated by crowdfunding campaigns, before they reach the stage where they’re able to sell shipping product. There’s a lot of interest coming out of successful Kickstarter campaigns, after all, but often nowhere for that interest to go as startups rarely have the means in place to continue collecting orders after their crowdfunding drive has ended. Perhaps more importantly, ShopLocket alsos provide a full-fledged alternative to a Kickstarter or Indiegogo-hosted crowdfunding campaign if a startup was interested in going it alone. Casey said the company “closes the loop” that begins at his hardware accelerator, Highway1, giving startups a complete solution for creation, development and sales of their products. “I picked them for the passion they have for what they do,” Casey said. “They have a passion for the entrepreneur’s journey and an ability to build an authentic relationship with the community.” Companies are often interested in building their own hardware Kickstarter projects, Casey told us, but they lack the ability to continuously provide accurate and authentic updates about where products are at in the development cycle, and that’s a huge challenge for these startups. PCH and ShopLocket can use their combined expertise to help on that front, which will hopefully result in stronger, more satisfying crowdunding experiences for the people actually buying the products. PCH International has recently shone a spotlight on its interest in hardware startups in other ways, too. The company is showing off the first cohort of its new early-stage hardware startup accelerator called Highway1 at a demo day next week in San Francisco. Highway1 offers classes of around 10Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/07RN8ot1_30/
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