As a tech industry and as consumers, we're going through commerce disruption like we've never seen before. While commerce innovation was happening well before COVID-19, the past year and pandemic have now accelerated these trends. That's why I couldn't be more excited about leading the seed investment in Loupe - a company you may not know yet but which has the potential to be one of this generation's companies to radically reshape how we connect with products, brands and each other.
For those not familiar, Loupe is a transformative live commerce streaming platform - the first app of its kind that rolls the entire experience of buying and breaking sports cards into one unified platform. If you still think of sports cards as just a fond memory from your childhood, think again. Box breaking (a term for someone buying cards from a seller who’s opening them on a live stream) is revitalizing the sports card world, injecting a social component into a hobby that already thrives on the excitement of pulling big cards from hobby and retail packs, boxes and cases.
Until today, no one app had perfected the unified user experience for breaking sports cards live, but Loupe is a dedicated platform for the entire card-buying experience; everything takes place in-app from buying packs, seeing them opened live, talking live to box breakers and other collectors and celebrating big hits or limited autograph cards together.
Because Loupe packages all the tools buyers and sellers need, from vetting to processing payments to low-latency streams and chat to easy shipping, it's an easy and safe experience for their already deep roster of well-known buyers and sellers. There's also no financial risk, as Loupe facilitates transactions to protect everyone from chargebacks and refunds. And as the platform grows, it's a reliable place to find sports cards when most stores are regularly sold out.
Oh, and it's super fun - maybe my most fun due diligence experience to date. An expensive one, for sure! I made my first Loupe purchase on November 11th (less than three weeks after their launch) and since then, my "diligence" has transformed my view of the entire collectibles category. And my mail carrier (and wife) are now slightly annoyed!
Loupe has become a virtual hang for me, too - it's a way to spend time with other sports and collectible fans and also seeing other investors pop their heads into breaks from time to time! To get a sense of the experience, here's a recent clip of well-known seller Fresh Pullz ripping a Tua Tagovailoa card (at the 20-sec mark).
If you haven't yet experienced Loupe, don't laugh off the potential here. I have invested many times in marketplace opportunities around fragmentation, a passionate community and product scarcity, in companies like GOAT, thredUP, and Rally. These dynamics, plus a surging interest in digital and physical sports collectibles, live video content and new commerce platforms, make Loupe a special opportunity.
I am thrilled to support founder and CEO Eric Doty, and to work with co-investor Nat Turner, on this Loupe chapter and everything that's to come. Download the app here http://loupetheapp.com and come find me in Loupe.