Rivin.ai: Discoveries, Product Update, & Raising $
Onwards!
Rivin is going well— everything is trending up and to the right!
Is this another hit? I believe so.
We have some exciting discoveries and updates we want to share with you all :)
Discoveries
The initial target customers of Rivin’s MVP were Amazon sellers.
But: Successful Amazon sellers do not only sell on Amazon, they sell omni-platform.
In truth— we knew this from the beginning.
As such, we’ve spent the past months gathering feedback on how to meet this omni-platform need.
In addition to this assessment, we have also come to another key product conclusion…
Sellers consider two factors when purchasing inventory— the expected sales and the profitability of those sales.
However, inventory purchased is rarely purchased at the initially listed price.
Almost all inventory prices are negotiated.
Thus:
The primary focus of Rivin is not to strictly analyze the profitability of products from supplier-listed “prices”.
Our focus is to:
Help customers understand a product’s in-depth historical data
Give them the data-rich tools necessary to negotiate an optimal purchase price
In the past, Rivin has calculated profitability based on supplier prices.
Our new approach involves being a complete omni-platform analysis tool and having our software be flexible and responsive.
This means supplier prices will still be used to attain estimated profitability, but will not be the core data used within analysis.
We strive to provider sellers with a data-driven platform where purchasing decisions happen.
Product Update
Our MVP landed initial customers, whom we have talked with at length for feedback.
Rivin’s MVP was built to prove demand— and it did.
But, based on newly acquired discoveries, we decided to rewrite our code from scratch.
It took 3 weeks of non-stop building, but Rivin.ai is finally here!
We now provide AI-powered in-depth data across all Amazon and Walmart marketplaces and are adding all other major platforms to be truly omni-platform.
Pricing
Our pricing was originally platform access-based with usage being unlimited.
Amazon data was $49/mo, and Walmart/Noon data was $69/mo each.
With the change to omni-platform data, we’re also changing our pricing.
We now allow sellers to analyze inventory across all major platforms with our:
$69/mo Base Plan: Under 50,000 products analyzed per month
$499/mo Pro Plan: Up to 1 million products analyzed per month
Enterprise Plan: Custom limits and any platform data or integrations on request
We believe this will allow us to serve customers both large and small— and offer a unique omni-platform data solution that does not exist.
Rivin will be the ultimate inventory intelligence software to analyze and drive purchases.
Raising Money
Exciting news— Rivin has raised our first check!
Shoutout to Kelly and Jason’s Calacanis from LAUNCH Fund for taking an early bet on us and being an all-around great person to work with.
Looking forward to using this initial capital to serve and grow our amazing customer base :)
Thankful
I want to thank my friends Mitchell, Sergio, and Alperen.
These guys are incredibly skilled at sales, marketing, and programming respectively and most of them are or have been Founders themselves.
I am immensely grateful to have supporting friends who are always willing to answer a late-night phone call and let me bounce ideas off them.
It’s rare to have friends as intelligent, helpful, and selfless as these guys.