A BILLION DISCOVERIES AND COUNTING
Milestone Alert: Charmboard announces serving one billion discoveries at its platform
Bangalore, India2019:Charmboard – AI based visual discovery platform that enables consumers discover style from popular culture, mainly from video, announced that the company served itsone-billionth discovery today. Thousands of brands across fashion apparel, footwear, accessories, lingerie, jewellery, hair and beauty were discovered by 15 million users across a vast library 300, 000 hours of video content. Charmboard is currently available on videos at OTT platform Zee5 across eight languages and on tens of thousands of shared videos at its owned property. The shows on Zee5 include some of the highest rated in India such as Kumkum Bhagya & Kundali Bhagya. Top brands like L'Oréal, Marico, Myntra, Amway, Jockey are amongst the brands who have been using Charmboard
Around 66% of Charmboard's shoppers who have discovered the products are women between 18 and 34 years old, from a range of key cities like Pune, Lucknow, Hyderabad, Patna, Bangalore, Delhi and Mumbai
The term 'Charm' indicates micro moments of desire within videos that viewers can save while watching video with a simple touch. Charms encapsulate immense possibilities of highly contextual discovery including but not limited to products seen in the video, context relevant brand stories and other placement of key information pertaining to the video moment being saved. This mindset where the user is still open and has not yet zeroed down to the exact thing she wants is very attractive to brands. Charmboard enables purchases by providing direct links to the product pages on partners sites. Charms can be saved to thematic collections called 'boards'.
On this occasion, Mr. GBS Bindra, Founder and CEO, Charmboard commented, “Charmboard provides a platform which inspires potential customers to discover brands organically whilst consuming video content. By being present in these intent-rich moments, brands are able to favourably influence the outcomes.. We are leveraging video content as an impactful source of discovery and pioneering a non-intrusive way for brands togetting across to interested users. Completing one billion discoveries is a milestone not just for us but also for brands who have associated with us throughout these years. This shows the power and scale of digital video consumption and demonstrates how using AI, Charmboard is building a very large business off video.
On an average, Charmboard records 5 touches per video view on charm-enabled video, roughly 3 products are discovered per Charm and discovered product cards have 4 to 5% Click Through Rate.
Founded in 2014, Charmboard is a web company that uses artificial intelligence to operate a service designed to discover more from a video. It is transforming the way users engage with video. In the last two years since the company launched the service, it is reshaping the future of streaming video and transforming how brands communicate with their audiences. The emergence of a Charm - a personal visual bookmark marking a moment that has inspired the viewer, is helping brands build deeper connections with the users. A typical Charm comprises of three images and a GIF. The business model of Charmboard revolves around making brands discoverable. Brand ROI is guaranteed via exposure during high points of consumer desire and consequent engagement reaching Charmboard's large and growing audience. Charmboard is live on Zee5, making 40 of the top Indian TV shows in eight language's discoverable. Global retail giant Target Corporation, USA and Venture fund 3one4 Capital invested in $5 million Series A round of funding.