Read on Twitter
1/8 A quick thread on 
ecommerce, particularly as it relates to BASE (4477) & more so recent IPO, itsumo (7694, @itsumofan)
While generally bullish on BASE, I have hesitations around the ultimate depth / size, overall applicability & speed of penetration of their model in
ecommerce, particularly as it relates to BASE (4477) & more so recent IPO, itsumo (7694, @itsumofan) While generally bullish on BASE, I have hesitations around the ultimate depth / size, overall applicability & speed of penetration of their model in
2/8 itsumo, on the other hand, is executing a "seller support" ecomm model that I'd argue is more (vs. BASE):
- Culturally, demographically & economically relevant in
- Focused on actual SMBs (vs. "micro-businesses")
- Durable, entrenched & value additive
- Culturally, demographically & economically relevant in
- Focused on actual SMBs (vs. "micro-businesses")
- Durable, entrenched & value additive
3/8 itsumo partners w/ SMBs across sectors - retail, pet, baby, cosmetics, food, etc - & supports these bizes across the entire D2C ecomm value-chain:
- Planning + strategy
- build + manage EC presence (on $AMZN, Rakuten, etc)
- Digital mkting
- Customer service
- Fulfillment
SMBs across sectors - retail, pet, baby, cosmetics, food, etc - & supports these bizes across the entire D2C ecomm value-chain:- Planning + strategy
- build + manage EC presence (on $AMZN, Rakuten, etc)
- Digital mkting
- Customer service
- Fulfillment
4/8 In the course of executing, itsumo builds very close personal & economic relationships w/their customers, buttressed by detailed know-how of their respective bizes. While they offer simple ecomm mkting support, their comprehensive "ecomm management" offering is the focus
5/8 Importantly, itsumo buys product from its customers & subsequently sells to consumers themselves
Some may scoff at this approach, tho I'd argue the LT implications & the potential "second order" strategies emanating from it (e.x. in-house logistics) are extremely powerful..
Some may scoff at this approach, tho I'd argue the LT implications & the potential "second order" strategies emanating from it (e.x. in-house logistics) are extremely powerful..
6/8 itsumo's existing & future biz model optionality shows hints of the compelling $3.9B valued @gopuff:
"...the startup’s “vertically integrated model,” where it buys products directly from manufacturers" & makes $ off the products they themselves sell https://techcrunch.com/2020/10/08/gopuff-funding/
"...the startup’s “vertically integrated model,” where it buys products directly from manufacturers" & makes $ off the products they themselves sell https://techcrunch.com/2020/10/08/gopuff-funding/
7/8 Some may say a big threat is that customers will go "in-house" w/time. While possible, do realize the extent of the SMB succession crisis & overall labor shortage in . Won't be easy to recruit a quality internal replacement as a small SMB in Okayama https://twitter.com/willschoebs/status/1334137979653197824
. Won't be easy to recruit a quality internal replacement as a small SMB in Okayama https://twitter.com/willschoebs/status/1334137979653197824
8/8 Their mkt oppty is enormous w/significant "embedded optionality" + compounding advtgs via an improving rep, further scale & accumulating execution know-how + a valuable data asset. Still so early in their journey, w/sales of just ~$77M & $265M MC
A JBI post likely needed!
A JBI post likely needed!
While a slightly different business model, its still interesting to compare @itsumofan against the nearly $1B of capital deployed in '20 into the growing # of serial acquirers of Amazon sellers & brands:
15 in
6 in
1 in
15 in
6 in
1 in
A recent post by @AliBHamed dives into this compelling opportunity at greater length https://crossstack.substack.com/p/the-amazon-third-party-seller-ecosystem
Been spending time exploring & comparing the career sites of the more innovative tech companies...exciting bump in quality + clear dedication of time, resources & focus
Talent is tough to grab in, w/gov't jobs most sought after
A shallow comparison, but
itsumo vs. NTT
tech companies...exciting bump in quality + clear dedication of time, resources & focusTalent is tough to grab in
, w/gov't jobs most sought afterA shallow comparison, but
itsumo vs. NTT
May seem like table stakes elsewhere, but bizes like @itsumofan are leading the charge in in providing far more dynamic work & learning environments. Be it the benefits, emphasis on personal growth, engagement by senior execs or the monthly "drinking parties" 
in providing far more dynamic work & learning environments. Be it the benefits, emphasis on personal growth, engagement by senior execs or the monthly "drinking parties"
