Hollar - Startup of the Year
Company: Hollar, Commerce, CA
Company Description: Hollar is the ultimate mobile destination for cool products at incredible deals starting at $1. Featuring thousands of items from toys, electronics, and beauty, to unique curated gift and party collections – Hollar is all about the joy of discovery. Find Hollar on iOS, Android and the web www.hollar.com).
Nomination Category: Company / Organization Categories
Nomination Sub Category: Startup of the Year - Consumer Services Industries
Nomination Title: Hollar
Tell the story about what this nominated organization has achieved since January 1, 2016 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Begin this section with the date since January 1, 2014 on which this organization began operations. TEXT REDACTED FOR PUBLICATION
Hollar, founded by a team of e-commerce veterans hailing from The Honest Company, ShoeDazzle, HauteLook and more, has catapulted the $50B brick and mortar dollar store industry into the e-commerce era. Dollar stores have seen 50% growth in the past 5 years, outpacing retail’s 17% overall growth. Yet none of the current leaders in the space have a strong e-commerce solution. Hollar leverages a nimble, online-only direct-to-consumer model to deliver a price-sensitive shopping experience that is convenient, curated for the shopper, and mobile-first.
Over 70% of orders are on mobile, delivering the delight of scoring amazing deals on cool products to a mobile-first generation.
80% of Hollar’s customers are located outside of the coastal U.S. Hollar is building a company that can provide a previously non-existent solution, saving shoppers across the country valuable time and money.
Hollar’s champion is the Millennial Mom and the company is adept at using social media and influencers to reach their target audience.
With tens of thousands of SKUs, most products are $5, with nothing over $10. There’s a $10 minimum to checkout with free shipping at $25.
Hollar is launching an e-commerce marketplace, opening the platform to carefully vetted merchants to provide a much broader range of products to its customers.
Hollar’s operations model enables it to curate and source name-brand products without the distribution and infrastructure overhead of traditional big-box retail. Hollar is utilizing the direct-to-consumer model to show consumers that quality and value can go hand in hand.
Hollar carries name brands found in drugstores and other higher-priced retailers, though at a greater discount. Hollar is growing as more consumers are using mobile to comparison shop and are discovering first hand, and sharing, the value Hollar offers.
The company launched its own high-quality private label products in 2016, helping to further establish Hollar as a trusted, elevated brand.
The company has raised $47.5M to date from top VCs like KPCB, Lightspeed Venture Partners, Index Ventures, Forerunner Ventures, BAM Ventures, Comcast Ventures, Greycroft Partners and the Pritzker Group.
Find Hollar on iOS, Android and at www.hollar.com
In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this organization since the beginning of 2016 (up to 150 words).
• In November 2015, the Hollar app and online store launched
• Operating solely online, cultivating a strong brand and selling trendier items.
• Carries products from many well-known brands
• The company launched its own high-quality private label products in 2016,
• Hollar strictly vets and tightly controls its supply side to maintain merchandise quality.
• Most of its ordering happens on the app, not online
• Since Hollar launched, it has seen double-digit growth every month.
• Hollar is opening up the platform to other carefully vetted outside vendors
• Recently Hollar announced it raised $30 million in Series B funding
• Hollar is primed to revolutionize the extreme value segment of retail.
Of the following measures of success, which ONE do you want the judges to most appreciate about your organization's story of achievement since the beginning of 2016?