EP 29: How Lean Ecommerce Startup: Lostmy.Name Sold ($15m) 600,000 Copies of a Personlised Childrens’ Story Book in 2 years
2X eCommerce Podcast
· with Asi Sharabi and Depesh Mandalia
· July 28, 2015
· 62 min
Summary
Lostmy.Name revolutionized children's books by implementing a full-stack, zero-inventory, print-on-demand model. Their phenomenal growth to $15M in sales in two years demonstrates the power of vertical integration and market-disrupting personalization in a niche yet scalable market. This episode is a masterclass in achieving rapid growth through operational efficiency and a unique product offering.
Key takeaways
Implement a 'full-stack' operational model to control the entire value chain from creation to delivery, driving efficiency and customer experience.
Leverage a zero-inventory, print-on-demand strategy to mitigate risk and enable highly personalized products.
Focus on a unique selling proposition, like personalized products, to differentiate in competitive markets and drive word-of-mouth growth.
Explore non-traditional funding avenues and PR opportunities, as seen with their record-setting Dragon's Den valuation, to fuel rapid scaling.
Prioritize internationalization early by designing products and operations for global reach.
Lost My Name (https://www.lostmy.name/) is a London based digital publishing and ecommerce start-up, that has sold close to 600,000 copies of a single personalised book titled: “The Little Boy/Girl Who Lost His/Her Name" to 136 countries in just 3 years.
They had the highest ever valuation on Dragons Dens (for U.S. listeners, this is the UK equivalent of Shark Tank).
The have grown by a staggering 1,500% in a single Year.
They refer to their business as a ‘full-stack’ business - which is ‘vertically-integrated’ meaning that they create, manufacture, market and delivery their product direct to consumer.
The are a zero inventory company - meaning that every single book is uniquely printed on demand
And they recently just completed a Series A round of funding and raised $9 million as a result.
I spoke with Asi Sharabi, a co-founder/CEO and Depesh Mandalia Performance Marketing Lead about the phenomenal growth they have seen over the past 2 years.
Frequently asked about this episode
What does this episode say about e-commerce strategy?
Implement a 'full-stack' operational model to control the entire value chain from creation to delivery, driving efficiency and customer experience.
What does this episode say about growth hacking?
Leverage a zero-inventory, print-on-demand strategy to mitigate risk and enable highly personalized products.
What does this episode say about lean startup?
Focus on a unique selling proposition, like personalized products, to differentiate in competitive markets and drive word-of-mouth growth.
What does this episode say about personalization?
Explore non-traditional funding avenues and PR opportunities, as seen with their record-setting Dragon's Den valuation, to fuel rapid scaling.
What does this episode say about e-commerce strategy?
Prioritize internationalization early by designing products and operations for global reach.
