We are a 3D image processing and measurement company, and an advanced 3D UI/UX company. This is a broad statement that reflects our ambitions. We plan on getting there very methodically through a series of lucrative verticals, the first several of which address the problem of fit. Our flagship product, Zori, for instance, targets the problem of shopping for shoes online and not know your size. 89% of shoes in developed economies are still bought in bricks-and-mortar stores, with the number one reason for this across geographies being sizing and fit. And for what is bought online, size-based returns can exceed 50%, severely eating into e-retailer's margins. Our second product, Anaken, targets major issues related to fitting an amputee for a prosthesis. Please note that we began the company in Amman, Jordan and will continue to have back-end operations (all engineers, a solid business team) there. We are currently opening front-end offices in Silicon Valley and possibly the UAE.
The technology - the user scans his/her foot with a regular smartphone. A 3D model of the feet is created, complete with measurements. These measurements are then used to match the feet to the appropriate shoe size for the shoe model being considered.
The implementation - We are a full-stack mobile (and eventually web) application. This means that the user's primary use of Zori is to shop for shoes. The first time that the user opens the application he/she will be required to scan his/her foot. But after that the user will browse for available shoes in the application and then with one click purchase the shoes (without ever leaving the application). Sizing is done automatically. Note that we are not an eretail company, and do not handle order fulfillment or even payment. However, the client does not have to redirect to the retailer's site to purchase. The arrangement is best described as an next-stage affiliates model.
Other products: Other products will use this core technology and elements of this business model as appropriate.
Business model, Zori: Our core revenue is commissions on shoes that we sell. As reference, apparel commissions through affiliate models begin at 4% of the item value and can exceed 20%. Secondary revenue streams include sponsored search (like the Google revenue model within our shoe-shopping application), analytics, and certified item ratings (where editors rate the items being sold in a consumer-trusted manner).
Business model, Anaken:
We will be a technical tool used by NGOs, prostheses providers/manufacturers, and medical insurance providers. A secondary revenue stream will be training in the product's use in various settings. Other presized apparel verticals (rings, etc.): Similar business model to Zori
Business model, Enterprise solutions: It is the case that most of the image processing engineers in the world are employed by a handful of companies which means that corporations looking for critical freelance solutions are often left without recourse. As our image processing department reaches critical mass we would like to be begin accepting lucrative enterprise image processing contracts and grow our engineering departments accordingly.
Each individual vertical that we are building/considering has enough global scale potential to be valued at least in the hundreds of millions as a standalone company. Our plan is to methodically add verticals, beginning with Zori, then Anaken, then several apparel verticals, then enterprise solutions, and then many other spaces we are considering. As we plan out our scaling, we are very conscious about what our short, medium, and long term assets and sources of leverage are. In each we are using our initial hi-tech product leverage (so, for Zori, the scanning/sizing/matching technology) to create a network leverage (for Zori it's users, shoes, retailers, manufacturers) that is equally important as an asset in the long term (think Visa, for instance).
We are founding team with lots of breadth and depth. Each team member is very well rounded, in addition to bringing considerable depth to his/her role. Additionally, at the date of this application we have four salaried employees and one full-time intern. Ahmad Sadeddin, our CTO, has an educational background in insurance/commerce and considerable professional experience in IT team management and in graphics processing. See https://www.linkedin.com/in/ahmadsadeddin . Evanna, our Chief Partnership officer, has had two successful social venture exits. See http://www.evannahu.co/ . Sami, our Managing Director, has a background in electrical engineering and computer science and a professional background in MENA tech private equity. See jo.linkedin.com/in/samiyabroudi/en . We are growing our team in Jordan as need arises and cash permits. Our team is engineer-heavy currently. We will continue to add engineers but are also working on adding business-side individuals as well.