Storbie Company Profile

Background

Founded in 2007, Storbie is a New Zealand-based e-commerce platform dedicated to empowering independent retailers, particularly community pharmacies and veterinary practices, to establish and manage their online presence. The company's mission is to advance and empower community commerce by providing accessible, world-class digital solutions. Storbie envisions a vibrant, diverse, and competitive small business ecosystem across New Zealand, Australia, and the United States, enabling small businesses to thrive in an increasingly digital-first world.

Key Strategic Focus

Storbie specializes in offering a comprehensive, supply chain-integrated online retail platform tailored for community pharmacies and veterinary practices. The platform enables these businesses to advertise and sell products, manage appointments, and promote their services online. By collaborating with suppliers and industry groups, Storbie ensures that retailers can access up-to-date product information and marketing materials, thereby enhancing their online visibility and operational efficiency.

Financials and Funding

Storbie has secured significant funding to support its growth and expansion initiatives. In October 2020, the company raised $1.5 million, which facilitated its entry into the Australian market, where it now serves over 100 community pharmacies. Subsequently, in February 2022, Storbie completed a later-stage venture capital round, raising an additional $2.3 million. These funds have been instrumental in enhancing the platform's capabilities and expanding its market reach.

Technological Platform and Innovation

Storbie's platform is distinguished by several proprietary technologies and innovative features:

Supplier Network: This feature allows suppliers to centrally manage product information, including descriptions and images, ensuring consistency across all retailer websites. It also enables suppliers to run centralized marketing campaigns directly through retailer sites.

Product Database: Retailers can access a comprehensive product database, automating online inventory management with up-to-date, high-quality images and descriptions. This integration simplifies the process of stocking an online store and enhances search engine optimization (SEO).

Service Integration: Beyond product sales, Storbie supports service-based offerings by enabling online appointment scheduling and management, catering to the needs of veterinary practices and pharmacies offering consultation services.

Leadership Team

Storbie's leadership comprises experienced professionals dedicated to advancing the company's mission:

Shane Bartle: Co-Founder and Chief Executive Officer. Shane brings extensive experience in technology and business development, guiding Storbie's strategic direction and growth initiatives.

Jessica Matthewson: Chief Operating Officer. Jessica oversees daily operations, ensuring the company's services align with client needs and industry standards.

Craig Morrison: Chief Technology Officer and Developer. Craig leads the technological development of the platform, focusing on innovation and system reliability.

Samantha Howarth: Chief Revenue Officer. Samantha is responsible for driving revenue growth through strategic partnerships and sales initiatives.

Tim Christie: Co-Founder and Creative Director. Tim oversees the creative aspects of the platform, ensuring a user-friendly and engaging design.

Competitor Profile

Market Insights and Dynamics

The e-commerce platform market is highly competitive, with numerous players offering solutions to businesses seeking an online presence. Storbie's focus on community pharmacies and veterinary practices positions it within a niche segment, addressing specific industry needs that broader platforms may overlook.

Competitor Analysis

Storbie faces competition from several e-commerce platforms, including:

Shopify: A widely used platform offering customizable online stores for various business sizes. Shopify's extensive app ecosystem and scalability make it a strong competitor.

WooCommerce: A WordPress plugin that enables users to create e-commerce stores. Its flexibility and integration with WordPress make it popular among small to medium-sized businesses.

Ecwid: A cloud-based e-commerce solution that allows businesses to add online stores to existing websites or social media pages. Its ease of use and affordability appeal to small businesses.

Strategic Collaborations and Partnerships

Storbie has established several strategic partnerships to enhance its platform's capabilities:

Stripe: Integration with Stripe enables secure and efficient payment processing for online transactions.

Windcave: Collaboration with Windcave provides additional payment gateway options, offering flexibility to retailers.

eWAY: Partnership with eWAY facilitates seamless online payment solutions, enhancing the customer checkout experience.

Verifone: Integration with Verifone supports point-of-sale (POS) systems, bridging online and in-store operations.

Vend: Collaboration with Vend allows for efficient inventory management and sales tracking, streamlining retail operations.

Operational Insights

Storbie's strategic focus on community pharmacies and veterinary practices provides a competitive advantage by addressing the unique challenges these industries face in adopting e-commerce solutions. The platform's integration with suppliers and industry groups ensures that retailers have access to accurate product information and marketing materials, reducing the burden on individual businesses and enhancing their online presence.

Strategic Opportunities and Future Directions

Looking ahead, Storbie aims to expand its reach within the small business ecosystem in New Zealand, Australia, and the United States. By continually enhancing its platform with innovative features and forging new partnerships, Storbie is well-positioned to support independent retailers in navigating the digital landscape and achieving sustainable growth.