José de Cabo, Luis Sanz and Pau Sabrià (2010)
Olapic is a visual content platform that integrates customer photos and videos into the e-commerce experience to drive conversion and sales revenue. Olapic uses technology that collects hash-tagged, customer-created images and videos from multiple sources, including social media platforms such as Instagram, Facebook and Twitter as well as direct submissions from consumers on landing pages and via email. The images are then displayed on a retailer’s or brand’s product catalog and detail pages. Olapic reports that customers can provide a 5% or more sales lift when using its technology to match user photos to specific SKUs.
Humans are accustomed to absorbing information visually. Translating the physical shopping experience to the digital environment has been challenging. The beginnings of e-commerce found inspiration from catalog retailing. The structure of cataloging is significantly different than the in-store presentations that are typically more visually appealing. Additionally, shopping is a social activity where customers share the experience, seek advice from companions and experience examples of product application. These visual and social aspects have continued to represent limitations to digital expansion.
Olapic was founded by José de Cabo, Luis Sanz and Pau Sabrià in 2010, in NYC. Since then, Olapic has grown to 80 employees across three offices including NYC, Córdoba (Argentina), and London. As of June 2014, Olapic has raised $6M from Li&Fung, Longworth Venture Partners, Great Oaks VC, Scout Ventures, Enzyme VC, and Columbia University Lang Fund.