“We are trying to do something that's never been pulled off -- to build a platform where it is easy for people to share what they've bought,” says Mine co-founder and CEO Pierre Legrain. “We are about creating a directory of ownership, of people and their recent purchasing history of items they want to share.”
At first glance, this may remind you of the ill-fated startup Blippy, which allowed people to see what their friends were purchasing with credit cards in real-time.
“So it turns out that almost nobody wants people to check out their purchases,” was the memorable way Alexia Tsotsis started off her Blippy obit in TechCrunch in May 2011.
Back in the early days of the web, there were some who predicted that online shopping would never take off, because, in addition to other hesitations, most people would never entrust their credit card information to a website.
Amazon started proving the critics wrong soon after it launched in 1995, and when eBay joined the party the following year, it quickly became apparent that ecommerce represented a massive new business opportunity where a lot of players were going to make (and/or lose) a lot of money.
Cut to the present tense, and ecommerce generated some $165.4 billion in sales last year, or roughly eight percent of the retail product sales in the U.S. According to Forrester Research, that figure will reach the neighborhood of $279 billion by 2015.
Meanwhile, with Groupon and Living Social, daily deals and flash sales, the sheer volume of marketing and shopping information coursing over the Internet has become deafening. Email, Facebook, Twitter are all bursting at the seams with the stuff.