By Invitation Only: How We Built Gilt and Changed the Way by Alexis Maybank PDF

By Alexis Maybank

ISBN-10: 1591846269

ISBN-13: 9781591846260

Gilt, at present worth greater than $1 billion, used to be introduced via Alexis Maybank, Alexandra Wilkis Wilson, and 3 colleagues in 2007. it really is probably the most interesting startups of modern years. And all of it begun with one daring suggestion: to convey pattern revenues on-line and alter the way in which thousands shop.
 
As they write concerning the day Gilt.com went reside: “We had created a website which could probably swap the principles of retail…If purchasing was once regularly a gradual, leisurely activity…it might now be aggressive, addictive, pressing, thrilling…not simply more straightforward, yet much more fun.”
 
Alexis and Alexandra proportion their standpoint during this dramatic tale of Gilt’s start, upward push, and evolution. They convey how they juggled the conflicting wishes in their providers, engineers, sellers, and power traders. They clarify how they mixed their person strengths and weaknesses and controlled their quickly starting to be staff. and so they take us in the course of the darkest moments of the recession whilst Gilt may possibly simply have died.

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Extra info for By Invitation Only: How We Built Gilt and Changed the Way Millions Shop

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This is because word-of-mouth marketing is fueled by two intuitive truths: First, people who are passionate about something talk about it a lot, whether it’s cars or fashion. And second, a personal recommendation from a friend or trusted source will always be more powerful than any other mode of advertising. So Alexis traveled regularly to places like South Dakota, where she attended the weeklong Sturgis Motorcycle Rally, which attracts half a million bikers. There she tried to turn bikers into eBay converts—and encouraged them to tell their friends.

We’d both excitedly soak up as much local culture, shopping, food, music, and nightlife as we could, making friends along the way. The more time we spent together, the more we confused our classmates, who, apparently thrown off by our similar hair and height, started calling us by each other’s names. Instead of being annoyed, we simply learned to answer to both. By the end of our time at HBS, we’d turn around in unison when someone cried, “Alexis, Alexandra, Alex—” Luckily, we both thought it was kind of flattering to be mistaken for each other, because this continues today in the halls of Gilt Groupe’s 2 Park Avenue offices, where many new employees and even the veterans confuse one of us for the other and then turn bright red upon realizing their mistake.

Eager for a mental break but not wanting to appear unprofessional to her boss, a managing director named Pacho, she wrapped a copy of the Financial Times around what she really wanted to read, American Vogue. She thought she was being clever, but Pacho wasn’t fooled. “Alexandra,” he said gently, “please promise me that after you get your MBA, you’ll go into fashion and not back to banking. ” She never forgot that. When she got to Harvard Business School, Alexandra was determined to graduate from it with a job in fashion.

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By Invitation Only: How We Built Gilt and Changed the Way Millions Shop by Alexis Maybank


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