In the past few years, the e-commerce industry has grown rapidly due to boost in smartphone users as well adoption of digital payment among customers. The ecommerce companies are witnessing remarkable success which is putting huge workload upon their infrastructure. The deployment of cutting-edge technology solutions can resolve all the challenges for ecommerce companies and increase their efficiency as well to grow further. Unbxd, one the leading company in India, is enabling eCommerce companies to stay ahead of the competition and achieve their set targets. Rajeev Ranjan, Editor, Digital Terminal recently interacted with Pavan Sondur, CEO, Co-Founder, and Prashant Kumar, CTO, Co-Founder, Unbxd. Pavan shared crucial insights about the market, their offerings, plans and much more. Read below the excerpts:
Q: Please tell me about Unbxd and its solutions. What is the current user base?
Ans: Unbxd originated from a simple idea that stemmed from our personal experiences. In 2011, while it was super simple to discover products on Google, we observed that customers still found online shopping a cumbersome experience. Recognizing that it was a problem that every eCommerce shop faced, we decided to set up Unbxd, an AI-powered product discovery solution. Unbxd's mission is to ensure that eCommerce website visitors find what they are looking for easily and quickly. Our AI-enabled relevant site search solutions, efficient merchandising tools, and intelligent product suggestions revolutionize how we do eCommerce today. Our tech stack simplifies the product selection process for users, assisting eCommerce companies of all sizes in optimizing user experience and increasing conversions and sales through innovation, accuracy, and greater relevance. Today Unbxd enables more than 10 billion user interactions monthly for eCommerce websites across 40+ countries.
Q: How has been the overall growth so far for Unbxd? Please brief on your major achievements.
Ans: Earlier this year, Netcore Cloud invested $100 million in Unbxd. The collaboration has been strengthening our products and services. Additionally, we have also been driving innovation in e-commerce. We have been on a mission to use AI to solve the problem of digital commerce discovery. The combination of our expertise in search personalization and Netcore Cloud's comprehensive full-stack marketing automation platform has enabled us to capitalize on cross-selling possibilities as well as expand our business internationally. Furthermore, this partnership has been helping us accelerate our growth in newer markets, establishing a stronger foothold in the US and EU.
Q: Which technologies do you harness to empower e-commerce websites? How do you work with them to make their journey seamless and help them stay ahead of the competition?
Ans: Unbxd provides an AI-powered product discovery suite based on contextually relevant site search solutions, allowing shoppers to locate things they are most likely to purchase faster. Essentially this assists e-commerce firms in creating dynamic category pages and provides real-time curated product listings that customers find easier to navigate. We also offer a cutting-edge PIM solution that helps companies manage and expand their product catalogs to meet the customers' evolving needs. Unbxd makes each stage of the digital transformation process significant, from the Autosuggest widget to the preview debugger, a powerful merchandising console, A/B test marketing campaigns manager, and a console that provides 360-degree insight into the conversion funnel.
Q: What are your views on the acquisition deal with Netcore Cloud? How is this collaboration helping your customers?
Ans: The acquisition has empowered us with significant momentum to expand our products and services while also propelling innovation into the future of eCommerce. Our priority is now to expand the capabilities of our best-in-class AI by introducing new services such as image and voice search. With Unbxd and Netcore Cloud collaborating, we are seeing Unbxd accelerate expansion in new areas, creating a more substantial footprint in the US and EU. Our capacity to serve and support more enterprise clients has been now growing, propelling us to the forefront of the Search and Personalization sector.
Our customers are able to boost their profitable growth by using the strength of a broader set of applications from two world-class firms, therefore eliminating the separation produced by technologies that operate in silos. Ensured continuity has the potential to increase company ROI by 5 to 8 times.