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ยท Posted on
February 21, 2024

Making servers crash might be a marketing tool but hype commerce startup EQL just got $25 mil to fix the problem

Say bye to websites crashing during an in-demand drop, because EQL has your back.

What's the key learning?

  • Drop culture is a new marketing tactic which embraces product scarcity to drive sales.
  • Remember when Kanye's Yeezy 350s sold out in 12 minutes? That's peak drop culture.

๐Ÿ‘‰ Background: When celebs like Kanye or the Biebs drop a new product (like Yeezys or Crocs), people go bonkers. Often, website servers can't handle the chaos, so they crash.

๐Ÿ‘‰ What happened: Melbourne hype commerce startup EQL helps retailers manage the hype of the drop by making sure their websites withstand the surge in demand.

๐Ÿ‘‰ What else: EQL just copped a cheeky $25 million from its latest investment round led by Insight Partners (who also invested in Shopify and Calm).

๐Ÿ”” What's the key learning?

๐Ÿ’ก Drop culture is a marketing tactic that uses product scarcity to drive sales.

๐Ÿ’ก Brands 'drop' a limited number of products, building hype with that gotta-have-it factor. And then the products sell out almost instantly. Remember when Kanye's Yeezy 350s sold out in 12 minutes?

๐Ÿ’ก The software infrastructure of some retailers just can't handle the heat (aka, they crash). This ain't great for customers. But EQL - backed by some fresh cash - is here to keep them in the kitchen.

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