Episode 413 of The VentureFizz Podcast features Scott Savitz, Founder and Managing Partner of Data Point Capital and Founder & former CEO of Shoebuy.com which is now known as Shoes.com. In my opinion, Boston doesn’t give itself enough credit, especially when it comes to consumer brands. It’s the home to consumer icons like Bose, SharkNinja, Dunkin, TJX, and many more. But if you look at the footwear category, it is a powerhouse with leading brands like New Balance, Converse, Sperry, Keds, Rockport and next generation companies like NoBull, Oofos, and BRUNT. So, maybe it comes as no surprise that one of the first companies to sell footwear online was headquartered in Boston and yes, that is Shoebuy. This was back in 1999, when buying shoes online wasn’t a thing and even Zappos was just getting started. Thus, I was excited to break down this major eCommerce success story that completely disrupted an industry on so many different levels. Today, Scott is a Venture Capitalist and his firm, Data Point Capital, invests in revenue-stage technology companies across both B2B and B2C categories. The firm’s portfolio includes DraftKings, Rent The Runway, Resident, Black Kite, Jebbit, and others. In this interview, we cover: * Scott’s background story and early professional experience in the mortgage and banking industry. * What it was like building a company in the early days of eCommerce and ignoring the naysayers. * How Shoebuy won over the brands and the details about their - at the time - innovative virtual inventory model. * Strategies around customer acquisition combined with a focus on capital efficiency to scale the business. * The story of the acquisition to IAC. * What led Scott down the path of starting Data Point Capital and what they are targeting for investments. * And more
