When asked why his e-commerce startup is named Magpie, COO Andrea Fantacone is both clear and candid: "Magpies collect shiny objects. Our solution allows users to collect any shiny beautiful things. So, in a way, the user is a magpie."
Founded in April 2016 by three Harvard Business School students, this startup transforms users into magpies in the sense that it allows them to rapidly buy things on the web.
"You find it, you like it, you can buy it.”
In the vision of the company, shopping on Amazon is a different experience compared to Magpie.
“A lot of times you go to Amazon when you have something on mind, [like] a pack of batteries or a new book,” Fantacone explained. “The case for Magpie is more, you’re browsing Marie Claire or GQ and you see something that you really like, and you’re inspired to buy in the moment. That’s when we become useful [...]. You find it, you like it, you can buy it.”
Let’s say, for example, that I’m reading a fashion blog and I stumble upon a picture of a nice jacket. As a registered user on Magpie, I click on the pic and a sidebar appears. The sidebar is already populated with all the product information (price, description, name, brand and retailer). By clicking on the “buy” button, Magpie will simply complete the transaction. First-time users will have to fill out a profile with payment information, of course.
At the beginning, the service will not work on any image on the web, Fantacone said. Instead, Magpie said it will be partnering with a series of publishers, fashion bloggers and style publications to enable its service on their websites (partners in the pilot will not be disclosed).
The key of Magpie is that users never leave the original web page. As Fantacone explained, users will be likely to shop on pictures of a complete outfit, which can include items from different brands, and buy them all with a single click.
The price of each item will be the lowest available online, Fantacone said. As for issues with their purchases, customers should contact the original retailer.
Located in the Harvard i-lab, Magpie received a check for $25,000 from Rough Draft Ventures, and it’s actively raising pre-seed rounds, the company said. The money will be used to test different solutions on the platform during the pilot, which will last through the end of the summer.
A former program manager for U. S. Air Force, Fantacone made the transition to work on a consumer-oriented business. Working as a procurement officer in the military, he said he used to deal with large contractors, such as Boeing and Lockheed Martin.
“So large, bureaucratic, somewhat rational decision-making type of organizations that make decisions once every once in a while,” according to Fantacone’s definition. “Dealing with consumers was exciting because it was emotional.”
Other co-founders of the company are CEO Damjan Korac and CPO Gerrit Orem.
One thing is for sure: If you cannot resist impulsive purchases, this startup has the potential to satisfy your sudden magpie cravings.
Photo credits: ©Susan Young for Harvard Business School
