Today the market is flooded with beauty, health and lifestyle products. With all the marketing tricks being done by big brands to grab customer fancy, we consumers often get confused what product to buy and often end up buying a wrong products. Don't you think under this circumstance some expert guidance and advice to help us choose the products that suit us best will help? Bengaluru based startup eloelo has come up with a solution. eloelo has curated thousands of short videos related to beauty, health and lifestyle, that will guide you to take the best buying decisions when it comes to beauty, health and lifestyle related products. You can also ask questions to experts and get answers for free. Now eloelo is all set to make you look good and feel great with the eloelo app launching on 14th August 2020!
We interviewed eloelo co-founder and CEO Saurabh Pandey to know more about this startup which is a pioneer in Social Commerce in the Beauty, health and lifestyle segment.
eloelo Highlights
| Startup Name | eloelo |
|---|---|
| Headquarter | Bengaluru |
| Founders | Saurabh Pandey & Akshay Dubey |
| Sector | Short Video Driven Social Commerce |
| Founded | 2020 |
| Parent Organization | Greenhorn Wellness Pvt Ltd. |
| Website | www.eloelo.in |
About eloelo
eloelo - Industry Details
eloelo - Founders & Team
The Idea Behind Starting eloelo
eloelo - Name & Logo
eloelo - Marketing Strategies
eloelo - challenges
eloelo - Funding
eloelo - Offers
About eloelo
eloelo is a Beauty, Health & Lifestyle Community Commerce platform that offers Curated Short videos by Top Influencers combined with Expert Answers & Daily Product Freebies ! With a blend of Short Videos & a forum to ask Questions on Beauty / Health / Lifestyle to Top experts, eloelo aims to be the 1-stop Lifestyle destination for users.
At eloelo users can personalize his/ her interests right from Health to Lifestyle to Yoga to Recipes to Hair & Skin related Videos. Users can simply swipe & watch 1-min videos & engage with experts by asking them questions on anything within the
Beauty, Health & Lifestyle space. The App acts as a safe space for the users where they can also choose to not reveal their names, ask questions to experts and get answers for free!
What’s more? When users come to the App daily & share content with their friends – they stand to win points which are referred to as “elos” which enables them to win products for free on the platform !
Eloelo's other USP is the 60-second Videos from hundreds of influencers on multiple topics that will both entertain & inform users. The content is created by everyday influencers & is moderated
before being uploaded on the platform, to ensure that only good quality content is available on the platform. Soon users will also be able to shop for beauty, health and lifestyle products on the platform after watching related videos. In future multiple new features like Product Review videos with shopping at 1 click, Live Videos, etc. will also be added to the platform.
"eloelo’s vision is to empower the Bharat Millennial user to Look good, Feel good & get entertained with a platform that blends Content-Community-Commerce for Beauty, Health & Lifestyle! Our core belief is that Short-Video content blended with a community that acts as a safe space is the future for a category like Beauty & Health where the user seeks bite-sized information like Tips, Product Reviews, Recipes, Home hacks, etc." quotes eloelo CEO Saurabh Pandey.
eloelo - Industry Details
A research by e-commerce site 'Myntra' reveled that Fashion and Lifestyle sector in India is valued over $100 billion, of which very soon 20%+ will move Online.
"It is our firm belief that a Content-1 st approach is the future for categories like Lifestyle & Wellness." Saurabh Shares
eloelo - Founders & Team
Ex-Flipkart employees Saurabh Pandey and Akshay Dubey are the founders of eloelo.
eloelo co-founder and CEO Saurabh Pandey is an MBA from JBIMS (Mumbai) & an MDP from IIM-Indore. Besides working as a category leader in Flipkart, Saurabh worked with brands like P&G (Business Development) and L’oreal, before starting his own venture.
eloelo COO Akshay Dubey is an alumnus of IIT Kharagpur. Prior to eloelo, Akshay worked with companies like GoZoomo, and at Flipkart as a Senior Manager.
eloelo currently has a team of 12 employees in different domains including Tech, Content, Business Development & Community.
The Idea Behind Starting eloelo
Saurabh and Akshay met during their stint at Flipkart. Saurabh headed the Health & Fitness category at Flipkart, while Akshay was into Supply Chain Management.
Having seen what blitz scale is like at Flipkart, both the co-founders were unanimously convinced of the community commerce idea with a vertical niche. It took a few meetings and positive reinforcement from some of their friends & angel investors that helped them take the final leap of of faith.
They started eloelo as an Instagram & Facebook page that has gradually grown to 50,000+ followers in the last few months. With all the positive response the startup has received from the users, eloelo is now all set to launch its app on 15th August 2020.
The startup has raised a Seed Round with investors such as Waterbridge Ventures,
Ramakant Sharma (LogX Ventures, LivSpace), Raghavendra TS (QikWell), Rishi Vasudev
(India CEO- Lifestyle) & others supporting their vision.
eloelo - Name & Logo
The interesting part about the name eloelo is that it is the reverse play of the popular Bollywood song 'ole-ole'. Here is what eloelo founder Saurabh Pandey has to say about the story behind the startup's name -
"We always wanted a name that resonates with Bharat. Given that this is a lifestyle platform, we wanted the name to be something that everyone can pronounce from South to North to East to West. eloelo was essentially a reverse-play on the popular ole-ole song. It had a nice ring to it so we went ahead & registered. Soon the name picked up in our community as well and now we are a fairly popular account on Social & the App will hopefully have a great recall too!"
eloelo - Marketing Strategies
eloelo started off as a humble Social Media page on Facebook & Instagram which has now gone on to have 50,000+ members with a simple philosophy – New Content posted daily ! Good quality content has helped the startup reach out to new and more users. The startup has not used any SEO or SEM tools yet since it wanted to scale organically first, and is enjoying a great 10% engagement rate on its content.
The app has been at beta stage for over 1 week now, and has already got 50+ users, who have given extraordinarily positive feedback. Thwe app will be available to all from 14th of August 2020!
eloelo - challenges
Given that eloelo is trying to pioneer Social commerce in the Beauty, Health & Lifestyle space it was important to start off eloelo's off-platform social reach even before the App launches to make more and more people aware about eloelo's concept. The eloelo team took to Facebook and Instagram to get more people associated with them, and getting enough followers on these platforms organically has been a challenge for the founders.
"Taking our Facebook & Instagram community to 50,000+ Followers with a reach of over 2 Lakh users was a challenge given that at the time of launch it was only the 2 of us. We did a lot of research, experimented with different types of content along with collaborations, ultimately what worked is just good quality content posted timely. This experience also helped us in a more clearer understanding of who our consumer will be and we ended up expediting our App launch with super clarity on wireframes, core product offerings." Saurabh says on the challenges and how they dealt with it.
eloelo - Funding
eloelo has raised seed funding worth $450k in July 2020.
| Date | Stage | Amount | Investors |
|---|---|---|---|
| 15th July,2020 | seed | $450k | Waterbridge Ventures, LogX Venture (Ramakant Sharma, Rishi Vasudev (CEO of Lifestyle & Home Centre), TS Raghavendra (Serial Angel & Founder of Qikwell), Others |
eloelo - Offers
Use coupon eloelochalo to get 100 elo-coins into your wallet soon as you login, earn more when you share videos available on the eloelo platform & use these elo-coins to get products for FREE!
Link : https://startuptalky.com/eloelo-social-commerce/
Author :- Chayanika Goswami
August 15, 2020 at 03:50PM
startuptalky