{"id":42721,"date":"2018-12-07T08:24:18","date_gmt":"2018-12-07T07:24:18","guid":{"rendered":"https:\/\/cms.munich-startup.net\/?p=42721"},"modified":"2021-04-01T00:37:20","modified_gmt":"2021-03-31T22:37:20","slug":"styque-7-questions","status":"publish","type":"post","link":"https:\/\/cms.munich-startup.net\/en\/42721\/styque-7-questions\/","title":{"rendered":"From micro to mega marketplace \u2013 7 questions for\u2026 Styque!"},"content":{"rendered":"

The Munich-based startup Styque recently went live as a "platform for marketplaces." Supported by machine learning, the young company automatically creates specialized marketplaces with curated product ranges within half an hour. This allows retailers, manufacturers, and service providers to quickly market their offerings and tap into new sales markets. Armin Nusser, co-founder of Styque, answered our 7 questions.<\/strong><\/p>\n

1. Who are you and what do you do?\u00a0<\/strong><\/p>\n

STYQUE <\/a>is the first platform for marketplaces. We can set up target group-specific marketplaces in just 30 minutes, both visually and content-wise. The recorded product range is then displayed to specific target groups using machine learning-supported curation. Retailers only need to enter their product range once to market it to buyers multiple times. We have focused on premium product ranges from local retailers, manufacturers, and service providers, as they are urgently seeking digital sales channels.<\/span><\/p>\n

\"Armin<\/a>
Armin Nusser is co-founder of Styque and answered our 7 questions.<\/figcaption><\/figure>\n

We are three founders who complement each other very well. Fridolin Koch (26), B.Sc. (TUM) in Business Information Systems, is responsible for IT. He is a developer and, among other things, helped set up the Limango marketplace. Matthias Heilig (40) is a qualified engineer and was a long-time entrepreneur with his event agency before becoming an e-commerce manager. He acquires retailers and takes care of building the product range. And I, Armin Nusser (49), am a qualified business economist and have already had two successful exits. First, I was the founder and managing director of wunder media, a content marketing agency that was sold to Burda. After that, I founded Media Group One, a marketing agency specializing in verticals, which was acquired by Yahoo. I am responsible for marketing and finance at Styque.<\/p>\n

2. But that's been around for a long time!<\/strong><\/p>\n

There are already many marketplaces, including those for local products. But they all have in common that they the one\u00a0<\/em> Build a marketplace. This means a seller can list their goods there so that they can be sold there.<\/p>\n

Styque automatically creates marketplaces \u2014 individual, regional and oriented towards the target group<\/h3>\n

We take a completely different approach. The goods we list are sold simultaneously on many specialized marketplaces. Initially, on micro-marketplaces that are very limited regionally or thematically. For example, we create customized marketplaces for hotels, with product ranges from the destination. This allows hotel guests to shop directly from their hotel in the city and even have the products shipped to their hotel. However, guests of 5-star hotels with a large international clientele require different products than a 4-star hotel with predominantly business guests. Managing this manually would be far too time-consuming\u2014our platform takes care of it. We can set up a new marketplace within half an hour.<\/p>\n

However, we don't want to operate all the marketplaces ourselves; quite the opposite. We do this in cooperation with partners, such as hotels, who provide the reach. The platform is also suitable for larger retailers. They don't need to set up their own shop system, but they get their own marketplace with their product range. The advantage: the product range can then be marketed to specific target groups on many other marketplaces, instead of just in their own shop. The platform is also suitable for interest groups, such as neighborhood retailers on a street, and much more.<\/p>\n

Plans for the future \u2013 from micro to mega marketplace<\/h3>\n

Once we reach a certain critical mass of micro-marketplaces, we can tap into a further macro and later mega-level through bundling. We are thus tapping into the market from the bottom up and reaching the target audience where they are thematically and regionally active.<\/p>\n

3. What are the three main ingredients for your recipe for success?<\/strong><\/p>\n

Of course, we also imagined everything to be a bit simple at first. We quickly learned that the biggest challenge is digitally presenting local product ranges. Often, there's no image or text material. Many retailers without an online store don't even have that. But the retailers believe in our idea and actively support us. The same goes for our partners and hotels, who help us figure out how to best reach guests. The most important thing, though, is working well as a team.<\/p>\n

\u201c2019 will be the year of growth\u201d<\/h3>\n

4. Let\u2019s get down to business: How is business going?\u00a0<\/strong><\/p>\n

Retailers and partners are very motivated. However, we've only been live for about 10 weeks, so we have to lower our sales expectations considerably, and our retailers and partners understand that. 2019 will be the year of growth for us.<\/p>\n

5. What does Munich mean to you?\u00a0<\/strong><\/p>\n

Munich is the perfect location. For startups in general, but also specifically for us. There are an incredible number of retailers with great products that we want to make discoverable. It's a tourist city with great hotels that we're approaching as partners. Munich is a media city\u2014that's also very interesting for collaborations. And there's a very vibrant venture culture. And if you want to live in a big city in Germany, then Munich is the only option for all of us.<\/p>\n

Will there soon be a herd of unicorns in Munich?<\/h3>\n

6. How will your startup become the next unicorn? Or will we see you soon at Epic Fail Night?<\/strong><\/p>\n

We don't think in such extremes. We want to activate a market that is still largely untapped and urgently needs solutions. At the same time, we want to capitalize on the market sustainably and efficiently. Our approach is: "Together we are strong." That's how we would see it here, too: we would then be a herd of unicorns \ud83d\ude42<\/p>\n

7. Isar or English Garden?<\/strong><\/p>\n

Of course, the Isar! Our office is ten meters away, and Matthias is an Isar fisherman, so what are we doing there in the English Garden? \ud83d\ude42<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

The Munich-based startup Styque recently went live as a "platform for marketplaces." Supported by machine learning, the young company automatically creates specialized marketplaces with curated product ranges within half an hour. This allows retailers, manufacturers, and service providers to quickly market their offerings and tap into new sales markets. Armin Nusser, \u2026<\/p>","protected":false},"author":22,"featured_media":42862,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5634,5638,1,4074,1083],"tags":[4202,217,1745,1138,3412],"acf":[],"yoast_head":"\nVom Mikro- zum Mega-Marktplatz - 7 Fragen an... Styque! - Munich Startup<\/title>\n<meta name=\"description\" content=\"Das M\u00fcnchner Startup Styque bietet eine 'Plattform fu\u0308r Marktpla\u0308tze'. 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