You might be surprised to discover that even in the midst of a pandemic that has large swaths of the population sheltering at home, Amazon still saw a 65% year over year growth in beauty sales.
Yet shopping for products online is always a gamble. How the product comes across as you’re adding to cart can be completely different from what it looks like when you’ve actually got the product in your hands.
This is exponentially true when it comes to beauty products. If only there was a way to guarantee the product you’re buying actually matches your skin tone!
Mime is a company that believes it has cracked that code.
Mime’s proprietary AI shade finder technology has been a godsend to customers.
In fact, customers who used the shade finder tech had a 70% satisfaction rate in regards to skin tone match.
The Future of Mime
With large scale adoption from the likes of Cult Beauty, Avon, and Shopify, Mime is set to take their cutting edge tech to the rest of the beauty world one skin tone match at a time.
What Interested Investors Need to Know
Three things that investors should take note of:
- Success: In their work with a leading online beauty retailer, Mime increased the purchase conversion rate by 5x in a 20 day period.
- Partnerships: Working with heavy hitters such as Cult Beauty, Avon, and Shopify.
- Ownership: They own the patents for the underlying AI tech that powers their application.