Photo - Listing Bird, Inc.
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Listing Bird, Inc.

Listing Bird is an AI Inventory Sourcing Agent

USA, California
Market: Artificial Intelligence
Stage of the project: Operating business

Date of last change: 16.04.2021
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Idea

Listing Bird is an inventory sourcing and supply chain automation platform that leverages machine learning, AI, and NLP technology to streamline the wholesale purchasing process, saving merchants massive amounts of time and money. We have scaled to $6k/m net revenue ($46k gross) in just a few months.

Global sourcing hasn’t changed much since Alibaba launched in 1999– it requires any retail merchant to undergo complex factory selection, quality control, negotiations and importing processes. Listing Bird automates the entire process, including time-intensive factory negotiations, with AI.

Current Status

- $7000 monthly net revenue ($46k monthly Gross Merchandise Revenue )

Market

-Micro Merchants (over 6m customers in US alone) -estimated market size $7.2bn. All retail and eCommerce merchants and small businesses (e.g hair salons) purchasing up to 100 units of products a month
-SMB Ecommerce (starting in 2022). Companies turning around $0.5m / in merchandise per month
-Entreprise (starting in 2024). Companies who are currently maintaining large procurement departments (e.g car manufacturers)

Problem or Opportunity

Global inventory sourcing hasn’t changed much since Alibaba launched in 1999 – it requires any retail merchant to undergo complex factory selection, quality control, negotiations and importing processes. Listing Bird automates the entire process, including time-intensive factory negotiations, with AI. On average this saves each merchant about 40 hours of work and shortens delivery time by 60% per product sourced, while not affecting their margins.

Solution (product or service)

Our Technology
We are building a cutting-edge chatbot that can engage in negotiation with thousands of manufacturers, for millions of products, simultaneously. The goal is to obtain the “absolute maximum” best deal possible for each purchase across a broad set of variables (such as price, packaging, quality, lead time, custom features). Starting language will be Chinese.

Competitors

- The most important competitors are Alibaba, Tradewheels, and Global Sources. They are dominant in the market.
-A lot of merchants use Sourcing Agents in China to get help with global sourcing
-A few startups operate in adjusted spaces but have a different business model (e.g. Spocket offers software that connects stores to Dropshipping platforms such as Aliexpress, but does not help with sourcing)

Advantages or differentiators

- We are looking to remove the cost behind sourcing completely by building a chatbot that will take the end-to-end sourcing process. This will make global procurement faster, cheaper and more error-free. This process was not possible before because the NLP networks (such as GPT3) just reached the stage where a chatbot can conceivably pass the Turing test (be unrecognizable for a human) in the next few years)
- We are working with micro-merchants with gives us a ton of Conversational data in Chinese. You cannot train a chatbot without that data

Finance

-Micro Merchants (over 6m customers in US alone) -estimated market size $7.2bn. All retail and eCommerce merchants and small businesses (e.g hair salons) purchasing up to ~100 units of products a month

-We charge a margin on top of the total purchase order. Customers self-checkout via our website www.listingbird.com. The website is automatically loaded with white label products created in china (already over 500 products available)-using Open.Ai's GP3 Artificial Intelligence tool.

-SMB Ecommerce (starting in 2022). Companies turning around $0.5m / in merchandise per month

-We will connect to their websites and offer the chatbot as an auto-procurement tool (SAAS Subscription)

-Entreprise (starting in 2024). Companies who are currently maintaining large procurement departments (e.g car manufacturers)

-We will offer an API call based service to our Enterprise clients

Business model

-Micro merchants: about 15% margin, currently capped by us as we are looking to increase revenue at max speed.
- No metrics yet available on the SMB/Entreprise clients

Money will be spent on

12 months timeline:
$500k will be spent on training the chatbot (we need 2x Data Scientists -PDF + 5years of experience, plus about $100k in AWS costs)
$250 will be spent on marketing (we run a successfull Google PPC campaign to promote our website right now)
$150 will be spent on PHP WooCommerce and JavaScript Full Stack Developer Hiring
$50 miscellaneous cost

Team or Management

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Photo 1 - Listing Bird is an AI Inventory Sourcing Agent
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