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Magnet Systems
Mobile application server software to simplify the development and deployment of mobile enterprise apps
About Magnet Systems
Magnet Beauty, accessible via magnet.com, is a pioneering startup in the e-commerce sector, specifically tailored for the beauty industry. The company offers a unique video chat service that connects customers directly with certified experts in makeup, skincare, and haircare. This service is designed to provide a highly personalized shopping experience, allowing customers to receive instant answers to their beauty-related questions and product recommendations from qualified professionals.
Magnet Beauty operates within the beauty and personal care market, serving a diverse range of clients, including individual consumers and beauty brands. Their primary clientele consists of beauty enthusiasts seeking expert advice and brands looking to enhance their customer service and sales through personalized interactions.
The business model of Magnet Beauty revolves around its Conversational Cloud Platform, which facilitates live, one-on-one video chats between customers and beauty experts. These experts, known as BeautyPros, are brand-certified professionals who offer tailored advice and product recommendations. The platform aims to replicate the in-store shopping experience online, providing a welcoming and interactive environment for customers.
Magnet Beauty generates revenue by partnering with beauty brands and e-commerce platforms. Brands pay Magnet Beauty for the use of its video chat service, which helps them reduce the costs associated with in-house staffing while increasing their revenue conversions and customer satisfaction. The company also benefits from the increased average order value and conversion rates that result from the personalized shopping experience they offer.
In summary, Magnet Beauty is revolutionizing the online beauty shopping experience by offering a cost-effective, personalized, and interactive service that connects customers with certified beauty experts. This innovative approach not only enhances customer satisfaction but also drives significant revenue growth for beauty brands.
Source: Dealroom company dataKnowledge graph
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Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| SERIES BOther financing | Aug 2012 | $47M | $189M | HTC Pixel Phone Division · Andreessen Horowitz | — |
| SERIES AOther financing | Apr 2011 | $13M | $50M | Andreessen Horowitz | — |
Growth signals
Latest recorded traffic for Magnet Systems is 7.4K monthly website visits, up 1113.1% over the last three months. Magnet Systems's team grew 0% over the past year.
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Investments and acquisitions
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Investors
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Series A2 investors entered at this stage
Andreessen Horowitz
HTC Pixel Phone Division
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
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