Former MySpace Execs Take on Fashion With Uncovet
Former MySpace Chief Executive MikeJones and self-described "fashion globetrotter"Heather Lipner have launched anew social-commerce site dedicated todiscovering the latest fashion and homegoods. Initially launched in beta phase inNovember, the site, called Uncovet, went live in June.
Lipner, the former creative director forMySpace, describes it as a "personalizedshopping service" that features the latestitems from emerging designers and establishedbrands, tailored to each shopper'staste based on their preferences and shoppinghistory.
The site is built around personalizationand a "style graph" that tracks a user'spast activity on Uncovet and other socialmedia, including Facebook and Pinterest,in order to determine which products they'll be interested inviewing and buying.
"Using the style graph, we have an understanding of theirbasic preferences," Lipner said. "If they like Wired mag,they're probably into tech and geekier products; if they likethe Gap, they probably like simpler products. We map peopleaccording to their interests."
By using Facebook's Open Graph metric, along with a user'sUncovet shopping history and other online metrics, Uncovetdisplays recommended products for the user, as well asproducts "liked" and recommended by their online friends,which cuts down on time spent scrolling through items a userwon't be interested in, she explained.
The site also differs from many other fashion e-commercesites in that it sells the latest "on-trend" products, not overstock.
"We're studying what's popular on everything from Pinterestto fashion blogs to Twitter," Lipner said. "We reallyunderstand the rising and falling of trends."
The company researches numerous magazines and blogs,along with trade reportsand industry data, to determinetrends and style"influencers," and it has categorized items into more than20 different style genres, including bohemian, rustic, craft,industrial and preppy.
By grouping items into genres, products can be tailoredto a user's interest, and users can be shown more relevantmerchandise, Lipner explained.
"You're always going to get the stuff you like, as well aswhat we recommend," she said.
Shoppers receive daily emails with the latest items addedto the site.
"If we're seeing something hot right now, we have theability to get products in for that week," Lipner said. "We'rebuying for right now, not a couple seasons ahead."
A live feed on the site lets users know the quantity ofproducts left, as well as style tips, endorsements from recentbuyers and curation from industry bloggers.
Access to the site is by request or by invitation from a currentuser. Membership starts at "friend" level and can be upgradedto a "best friend" or "best friend forever" level (bothof which offer additional discounts) by sharing items withfriends or inviting friends to join.
The name Uncovet refers to theemotional excitement of uncoveringand discovery, as well as evokingthe concept of coveting andstrong desire, Lipner explained.
The company was launchedby Jones' Santa Monica, Calif.–based business-development firmand technology studio, ScienceInc., which has already developedfive separate digital businesses,including Eventup and Dollar-ShaveClub.
This is Jones' second forayinto fashion, as Science launchedWittlebee—a membership-based business that sends parentsa curated box of discounted children's clothes each month—earlier this year.
Science finances the companies and then looks for ventureinvestors when they grow to a scalable size. Right now, it iscurrently the only investor with Uncovet.
Jones said he was drawn to Uncovet because of the innovativeconcept and the site's ability to save time and makeshopping easier with the style graph.
"I focus on building new companies that have a specificinterest in the e-commerce space, and I fell in love withHeather and her team," he said. "It fills a unique niche in thee-commerce space."
Los Angeles lends itself to creatively focused and consumer-facing brands in a way that Silicon Valley and otherareas don't, in part because of the area's local fashion andentertainment industries, Jones explained.
"L.A. has different sweet spots," he said. "Uncovetwouldn't come out of Silicon Valley."
Los Angeles has recently become a community for startups,he explained.
"Right now, the majority of technology innovation is reallyhappening in Santa Monica."
