Why Ron Conway Is Jazzed On Ecommerce
Superangel Ron Conway addressed a crowd of entrepreneurs, developers, and investors today at a Betaworks conference in New York. My takeaway? Conway is pumped about the future of ecommerce.
He repeated a stat we've heard once before: Only 6 percent of commerce is conducted on the Web today. Conway believes that figure could reach 25 percent. That's a huge market when you consider that ecommerce companies did $194 billion in sales last year.
"That is a massive, massive opportunity, and it's early days," Conway told the crowd. "Facebook's open graph is a huge gift to the Internet that will allow that commerce to take place with a lot less friction."
There's a perfect storm brewing for ecommerce companies, he said. "Most of the ways we will shop online hasn't even been thought of yet," he added. "It's going to create an explosion."
That explains his firm's flurry of deals in the space. SV Angel has invested in ecommerce companies like Priceonomics, Gumroad, Everlane, Endorse, and Shoptique.
Separately, Conway dispensed a piece of advice for companies worried about falling into the dreaded hype cycle valley of death. They can avoid that, he said, by positioning their marketers to work closely with the engineers. "The engineer is doing the A-B testing and firing out the viral co-efficients, and the marketer is right there working with the hacker," he said. Those roles will become increasingly collaborative.