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🦄 Unicorner Startup of the Week: nate
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✍️ Notes From The Editors
Congratulations to the CopyAI team on their $11 million Series A! Be sure to read our cover on their seed round from April—we’re excited to see how far it’s come in just a year.
Hope you enjoy today's article on nate. We'd like to hear from you: what's a startup you're keeping an eye on that's just raised? As always, you can reply to this email letting us know.
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Buy anything with one click
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nate is a universal shopping app that allows you to make purchases from any brand in one click. When a user wants to purchase an item, they can simply share the webpage with the nate app. The company then handles this purchase using artificial intelligence.
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💰 Business Model
nate charges a $1 fee per purchase. This is to issue virtual cards, protect privacy, and apply any available discounts.
📈 Traction and Fundraising
- Raised $38 million Series A round led by Renegade Partners, with participation from Canaan Partners, Coatue, and Forerunner Ventures
- User base has been doubling every six weeks
- Currently available as a free app on the iOS App Store
👫 Founder(s)
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Albert Saniger, CEO: Previously Private Label Fashion @ Amazon, Co-Founder and CEO @ MBM Americas & Asia-Pacific, MBA @ London Business School, Political Science and Government Bachelor’s @ Universitat Pompeu Fabra
🔮 Our Analysis
When making a purchase online, we generally have to go through multiple steps, such as making an account and inputting all our information. This process is simplified by nate’s platform so that users can make purchases from any brand in one click. In essence, nate is bringing the benefits of shopping on a centralized platform like Amazon to a decentralized shopping ecosystem. The team told us its priority is “to keep growing and building solutions that consumers deserve by providing a universal platform that empowers the non-Amazon economy.” The company’s focus on data privacy and protection is also a key factor in its marketing, with features like virtual cards generated for each transaction. We like the direction nate has taken, because it trusts its AI solution to work, and it will improve with time.
📚 Further Reading
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🎁 Bonus Content!
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