How Priceoye, An Ecommerce Business, Raised $7.9M During The Time Of Crisis Ft. Adeel Shaffi | EP19

Do you want to learn how to raise funding for your startup? Do you want to know what it takes to be a successful CEO? Join us as we follow the journey of Priceoye, a startup that raised $7.9M funding and is now in the process of becoming a successful e-commerce company. Our guest of the podcast, Adeel Shaffi is a co-founder of PriceOye, is on a mission to level the playing field when it comes to e-commerce and building a marketplace for authentic and original consumer electronics at the best price.

In this episode, two entrepreneurs & business enthusiasts Shayan Mahmud & Adeel Shaffi sit down to talk about startups & funding and give you an inside scoop into the industry. Three most important things that helped Priceoye build a strong case before VCs; How do international VCs analyze any business model; Things entrepreneurs should know before starting a business; Journey of Priceoye, how he & his brother got into the e-commerce business; How did they find the right mentors; What kind of advice should one listen to; they wanted to build a startup in the US but were told to select Pakistan instead! The difference between the Asian and European consumer market: why Pakistanis don’t value time & services?

Further in the discussion, Adeel highlighted how other startups have failed and why the hypergrowth model is not as effective. To succeed in any line of business, you need to have a solid long term plan and an in-depth understanding of the industry. Why is networking essential for the growth of business? To succeed, startup founders should do everything they can. In his own words, “Our business philosophy is simple, you should do everything unless it’s harmful.”

Learn about this and a lot more in this episode!
#profit #Ecommerce #Startup

00:00 Intro & highlights
02:03 Introduction of CEO Priceoye
02:20 Raised $7.9M in 2022
04:10 From $50k to $7.9M
05:35 The beginning of Priceoye
07:04 Price Comparison & E-commerce
14:30 Importance of educational institutes in networking
17:58 Why shifted from price comparison to e-commerce?
21:04 Why Hypergrowth model is not effective?
26:45 Importance of long term plan
29:49 Future of Startups in 2023
33:05 Personal Vs Company Brand building
34:41 Brothers as business partners: Pros & Cons

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