I. Introduction
In the ever-evolving landscape of e-commerce, companies are constantly seeking innovative ways to engage customers and foster a vibrant online shopping experience. One such company, Gamitee, underwent a significant transformation, rebranding itself as Joyned after raising $4 million in seed funding. While Gamitee’s past function played a valuable role, this name change signifies a new chapter for the business.
Table of Contents
This blog delves into the fascinating world of Joyned, exploring the potential impact this transformation might have on various aspects of the business, including brand identity, customer experience, and market positioning.
So, buckle up as we embark on a journey to understand how Joyned is shaping its future and potentially impacting how we shop online.
II.What Joyned Do? (Also known as Gamitee)
Traveling can be so much more fun when shared with others. That’s why Joyned is revolutionizing the way people book group trips and vacations online.
Joyned’s clever AI technology analyzes buyer behavior across travel sites to identify when shoppers intend to book together. This gives travel providers powerful insights into group dynamics and decision-making that were previously unavailable.
Armed with this social intelligence, Joyned enables sites to facilitate collaborative booking right on their platforms. The live group experience delights shoppers by making trip planning inherently social.
Leading online travel agencies, hotel chains, and tech providers now rely on Joyned’s social revenue platform. These sites unlock new revenue opportunities and maximize customer lifetime value by optimizing for group bookings.
Joyned is transforming online travel commerce into a collaborative, engaging adventure. The future of trip planning is social.
III. Potential Impacts on the Business
A. Brand Identity:
- Brand Recognition and Perception:
- The name change from Gamitee to Joyned can be a double-edged sword. While established customers familiar with Gamitee might experience initial confusion, the new name “Joyned” could also attract new audiences seeking a more positive and engaging shopping experience.
- The success of the name change hinges on a strategic rebranding campaign that effectively communicates the essence of Joyned and its connection to the values it represents.
- Target Audience:
- Depending on the chosen brand identity for Joyned, the target audience might shift subtly. “Joyned” suggests a focus on community and connection, potentially appealing to individuals who prioritize a positive and interactive shopping journey.
- However, without significant changes to the core offerings, Gamitee’s initial target audience might still find value in Joyned.
B. Customer Experience:
- Interaction with the Business:
- The impact on customer interaction depends heavily on the accompanying changes with the rebranding. If the transformation primarily involves a name change, minimal disruption to user experience is expected.
- However, if the rebranding coincides with modifications to the platform or services, customers might require adjustment and clear communication to ensure a smooth transition.
- Product/Service User Experience:
- Similar to the point above, the potential impact on user experience rests on the nature of the transformation. If the rebranding focuses solely on the name, the user experience of existing products and services might remain largely unchanged.
- However, suppose the transformation involves upgrades, revisions, or introducing new features. In that case, adjustments to the user experience can be expected, and proper communication and guidance would be crucial for customer satisfaction.
C. Market Positioning:
- Shift in Market Position:
- The name “Joyned” hints at a potential shift in market positioning. It suggests a move towards a more interactive and community-oriented approach, potentially differentiating Joyned from competitors focused solely on transactional aspects of e-commerce.
- New Business Opportunities:
- Depending on the strategic direction of the rebranding, Joyned could unlock new business opportunities by targeting previously untapped customer segments or exploring innovative partnerships that align with the brand’s new identity.
By navigating these potential impacts effectively, Joyned can leverage its transformation to strengthen its brand, enhance customer experience, and solidify its position within the e-commerce landscape.
IV. Jonathan Abraham (CEO of Gamitee) Explained:
CEO Jonathan Abraham believes his Jerusalem-based SaaS company Gamitee will “spark joy in customers’ experiences.” The Hebrew name means “joined,” but they spelled it “joy” to reflect their mission.
Some big names are sparking investment joy in Gamitee’s latest funding round, including retail legend Arthur Stark, former president of Bed Bath & Beyond. Dotomi and ICQ founder Yair Goldfinger and Hard Rock Digital’s Rafael Ashkenazi also joined.
Abraham said Stark’s retail expertise helps tremendously in the US market. Goldfinger pioneered messaging apps over two decades ago. With Ashkenazi, they’ll penetrate the US and build their brand.
Rather than just optimizing social media advertising, Gamitee enables collaborative shopping right on retailer sites. Shoppers can stay put and invite friends to evaluate products together.
The idea came to Abraham four years ago while wedding planning. Endless suit options and hundreds of open tabs later, he realized shoppers needed easier co-browsing. He developed Gamitee with co-founder Michael Levinson.
Though not a novel concept, Gamitee focuses specifically on social shopping. With a quick JavaScript install, retailers can add a “shop with me” button. Friends can then share carts and inspiration boards and chat with sellers.
Abraham said, “The essence of joy is empowering merchants to own the shopping experience and let people shop together. Gamitee brings the social into online shopping, bridging the offline gap.”
On average, retailers see 6-15% sales lifts when users invite friends. Conversion, retention, and traffic also typically improve.
The new funding will fuel major US expansion. With early traction, Gamitee wants to build its Florida marketing team and add sales and support roles.
In 2020 launch drove nearly $500k in rapid sales, approaching $1 million. Abraham said, “Today, social media marketing makes big companies exist, but merchants depend on it. Instead of a blackbox of engagements, we’re bringing a new perspective that gives merchants huge competitive advantage.”
V. Joyned Series A Funding Statement
Joyned recently secured $8 million in a Series A funding round led by Reach Markets, an Australian private equity firm. Other participants include Sentor Investments, Velocity Ventures, and Lucerne Investment Partners.
This funding will fuel Joyned’s global expansion, focusing on product development, international market growth, and exploring new verticals. The company already boasts strategic partnerships with major players like Amadeus, OYO Vacation Homes, and TravelUp, showcasing the potential of its unique platform.
Impact and Future Outlook:
Early results are promising, with Joyned clients reporting a 25% increase in average booking value and a fourfold rise in conversion rates through their social revenue technology. This innovative platform bridges the gap between shared travel planning aspirations and the practicality of online booking.
Industry Significance: Joyned’s success reflects a growing trend in the $4.6 trillion global hospitality industry: the need for a more social and interactive travel booking experience. With the backing of prominent investors and the early impact on its partners, Joyned is poised to play a significant role in shaping the future of travel planning.