Indian-founded global sourcing startup BuyHive is now a case study on Harvard Business publishing platform
The biggest challenge is how to find suppliers who they can trust and who could reliably supply products to sell through their e-commerce sites. It’s also necessary to get directly to the factories and understand their capability, but it’s like a needle in a haystack to find the right supplier that meets your needs. And that can be weeks and months of time, where you should be focusing on ETC selling and growing your business. BuyHive can also manage the entire process, finding the supplier and negotiating the terms, for a fee. B2B sourcing platform BuyHive is working with 40Seas to provide financing to small businesses. The partnership, announced Tuesday (Feb. 28), will let small- to medium-sized business buyers in the U.S., Canada and the U.K.
They specialize in all https://www.beaxy.com/ consumer product categories, including Fashion, Textiles & Fabrics, Home, Kitchen & Office Décor, Garden & Outdoor, Electronics, Travel, DIY, and Toys. “Global sourcing and procurement has dramatically changed in the post-pandemic age and BuyHive is navigating this transition admirably, by leveraging technology to make sourcing painless for small and mid-sized buyers around the world. Filling the trust gap and addressing the needs of global buyers wanting to source high-quality products while minimizing risk is an important value addition that their platform brings,” Zixiao said.
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BuyHive, a B2B tech-enabled global sourcing platform, is launching in the UK and US. The Hong Kong-based company, which allows users to search products directly from a network of factories, said it is looking to support a rapidly growing base of third-party sellers with their sourcing and procurement needs. But the underlying technological solutions powering the sourcing industry hasn’t changed much. The case focuses on key decisions facing a startup venture BuyHive, that is on the cusp of disintermediating the sourcing business with a new business model. The founders have to specifically consider ways in which they can increase scale and stickiness with respect to the platform users as well as its sourcing specialists. The platform was an outcome of radically rethinking the way value was being delivered to buyers seeking to identify manufacturers who could supply to the specifications that the buyers had developed.
Não foi nada perto do relacionamento tóxico que ela tem com a beyhive
— Rafael Bairros (@rafaabairros) March 3, 2023
“For the first-time ever, small or mid-sized online retailers and D2C brands serving the US or European markets can execute a global sourcing strategy to match the world’s largest retail chains via the BuyHive platform,” said Minesh Pore, Co-founder and CEO of BuyHive. “We are enabling access to highly reliable and locally-based sourcing experts spread throughout Asia. Every single one of them has been carefully vetted by us and comes with a minimum of 5 years of industry experience, having worked for some of the world’s biggest brands.” Hong Kong-based B2B tech-enabled global sourcing platform BuyHive announced the launch of its local operations in the US and UK markets. The company said it is looking to support a rapidly growing base of third-party sellers with their sourcing and procurement needs. BuyHive recently launched its global Expert Sourcing Network, under which sellers based in the US or European regions can hire a local expert in all major Asian countries for their sourcing. /PRNewswire/ — Hong Kong-based B2B tech-enabled global sourcing platform BuyHive today announced the launch of its local operations in the US and UK markets.
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buyhive com will offer Choco Up and clients one of the best sourcing services in the Asia Pacific for a variety of supplies or items. Early 2021, Choco Up and BuyHive teamed up to provide professional protection equipment to aid the fight against CoVid-19 in India. Free to get started, easy to add your whole sales team, commit to monthly or annual plans. Our supply chain is stronger and more reliable with Buyhive as a key partner.
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The giant global sourcing companies and platforms such as Alibaba, Made-in-China, Global Sources among others had typically focused on creating value for the suppliers . BuyHive seeks to turn the attention on buyers as their core focus and create a buyer-centric platform. The company has to make decisions on identifying the right type of investors, engineering the platform to create greater buyer value, improve stickiness of the platform, and adopt AI-based algorithms in bringing sourcing experts on board. BuyHive, a Hong Kong-based B2B global sourcing platform, announced Monday it had launched local operations in markets in the U.S. and U.K. According to a news release, BuyHive hopes to support the sourcing and procurement needs for a fast-growing base of third-party sellers.
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“I am happy to join BuyHive’s Advisory Board and work with the team to spearhead a revolution in global sourcing. The leadership team at BuyHive has a finger on the pulse of the global buyer community and I am confident that their platform is poised to transform sourcing and procurement for small and mid-sized companies around the world,” Roussel said. Jimmy KuAs Venture Partner at 10X Capital, the most active VC in the United States, Ku assists the portfolio companies with discussions around growth and fundraising. He is also a prolific angel investor and an advisor to several startups and established companies. As Flutterwave’s Head of Growth for developed markets, he is building teams to grow the business in North America and Europe. Flutterwave is Africa’s largest payments infrastructure company by reach that serves over 900,000 businesses globally.
Where is BuyHive headquarters located?
Hong Kong, Hong Kong
First, we give them a rating based on their resume and the interviews, and that later becomes feedback when they work with the buyer. On the buyer side, we work with companies of all sizes, but our target is anyone with a million dollars in gross merchandise value . But sometimes larger companies will use us just to source a non-core product for them. The Advisory Board will support BuyHive’s leadership team by providing input on the company’s business strategy, product roadmap, and fundraising, in support of BuyHive’s efforts to scale the business.
Header 2Third-party sellers integral to sales
He has more than 25 years of experience in building, shaping, and transforming international sourcing, supply chains and product development. The experts on our platform—call them the hive—are people who have sourced for brands, retailers, importers and they have experienced sourcing those kinds of products for an average of 10 years. We now have more than 5,000 sourcing experts in 20-plus countries, and each lists his or her respective country and category areas of expertise. BuyHive’s platform offers buyers worldwide access to more than 5,000 independent and local sourcing experts.
- Free to get started, easy to add your whole sales team, commit to monthly or annual plans.
- It connects buyers with freelance sourcing experts in the world’s leading sourcing markets who know the best suppliers from their professional work experience.
- But the underlying technological solutions powering the sourcing industry hasn’t changed much.
They know the buyhive com in and out and that knowledge can be transferred to the new buyers that come to us. Sourcing experts were losing their jobs, or retiring, so we thought we would create a platform that matches the skills of these sourcing professionals to merchants and buyers who needed their help. Sourcing veteran Minesh Pore not only envisioned such a world, but as the co-founder and CEO of sourcing platform startup BuyHive, he brought the concept to fruition.
She has earlier held senior level roles in corporate strategy, product innovation, and strategic investments at various organizations in the US and China. BuyHive takes accountability for global buyers, sourcing products and manufacturers with enhanced trust and transparency. BuyHive guarantees delivery of goods by giving you access to only the highest quality factories.
Here, Pore—who has worked in India, China, Taiwan, Latin America, Europe and is now back in Asia—explains how recent events threw a wrench in sourcing as we knew it and accelerated the need for vetted, freelance agents. BuyHive and all related sourcing experts can give partners and clients the agility necessary to ensure their business can continue growing at a rapid pace. MarTech360 covers marketing technology news, editorial insights and digital marketing trends from around the globe. Updates on modern marketing tech adoption, interviews, tech articles and events. We have to make sure these people are qualified, that they speak the business language, the technical language and the local language so they GALA can go to trade shows and the factories.
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