Duncan is a distinguished researcher, boasting 20 years of experience in analyzing the technology sector, particularly focusing on cloud computing, edge computing, blockchain, cybersecurity, and marketing technology.
KIKI, a community-driven e-commerce venture that debuted in early 2023, has successfully concluded its initial funding round with investments from notable entities such as a16z crypto and The Estée Lauder Companies’ New Incubation Ventures (NIV). The platform has now opened its doors to a diverse array of creators and brands.
Among the investors backing KIKI are consumer-tech funds Double Down, 2Punks Capital, and Advancit, along with digital communities RedDao and OrangeDao, and digital creator GMoney. The funding from a16z crypto comes on the heels of KIKI’s participation in the spring 2023 Crypto Startup Accelerator program. NIV, on the other hand, made its investment in November 2022 during KIKI’s conceptual stages prior to its official launch.
KIKI World’s initial release showcased collaborative beauty products crafted in conjunction with the KIKI World community. Through its unique platform and blockchain infrastructure, KIKI has revolutionized consumer interactions by enabling them to engage with both fellow consumers and brands outside the traditional web2 channels and social media platforms. This innovative approach has been warmly received by their audience, allowing them to actively participate in product co-creation, earn rewards for engagement, contribute to product innovation, and connect with like-minded enthusiasts. KIKI’s vision revolves around establishing consumer brands as dynamic platforms, where products and experiences are co-created and shared with the communities that utilize them.
In a collective statement, KIKI’s co-founders Jana Bobosikova, Brendon Garner, and Ricky Chan expressed, “Brand websites serve not only as sales platforms but also as educational hubs, and KIKI’s groundbreaking platform takes the capabilities of brand.com a step further by harnessing community engagement and fostering creativity in sync with emerging trends. KIKI perceives the internet and the interconnected communities as the driving force behind the creation—not just consumption—of brands and products that will shape the future. The tools being developed aim to transform this elevated customer experience into reality.”
Shana Randhava, Senior Vice President at NIV, The Estée Lauder Companies (ELC), emphasized, “Consumers are at the core of our operations at The Estée Lauder Companies. This is why we are enthusiastic about KIKI’s team vision of exploring novel approaches to prioritize customer satisfaction. Leveraging cutting-edge web3 technology, KIKI’s custom-built platform is redefining how consumers can collaboratively create with brands and engage in innovative ways. This exploration of a consumer-centric model offers ELC valuable insights into the future of the beauty industry.”
Arianna Simpson, a general partner at Andreessen Horowitz, noted, “Traditionally, there has been a strong bond between premium consumer brands and their clientele, albeit without direct community input. KIKI is breaking down this barrier by enabling consumers to directly influence the creation of future products. The diverse background of KIKI’s founding team in beauty and technology is evident in their dedication to integrating their expertise into the realm of web3, evolving from participants in our Crypto Startup Accelerator program to nurturing a thriving KIKI community. We are excited to support KIKI’s mission of developing digital-physical experiences that empower customers to co-create and co-own products.”
Since May 2023, KIKI has introduced five groundbreaking physical product collections, including the Skin Development Kit—a skincare line where customers can vote on key ingredients and launch sequence—and Pretty Nail Graffiti—an NFC tag-enabled nail pen allowing consumers to select the next color.
Commencing in April 2024, KIKI will unveil a new suite of platform tools and applications that will facilitate connections and launch campaigns driven by creators, brands, and fans, all while fueling KIKI’s product lines. From blockchain-powered profiles and collectibles that promote peer-to-peer connections and dynamic rewards to robust discovery mechanisms and community management tools designed to prioritize fan rewards, as well as platform APIs enabling the creation of incentive-driven engagement campaigns and conversion-focused rewards, KIKI is harnessing the passion of its community.
KIKI is spearheading a transformative venture across its on-chain, online, and real-world ecosystem, championing user-centric data ownership, participation incentives, and innovation for the upcoming generation of creators and consumers.
Curious about attending live discussions featuring renowned global brands on topics like these? Learn more about Digital Marketing World Forum (#DMWF) Europe, London, North America, and Singapore.
Tags: beauty, Commerce, funding, investors