What is FiveStars? What are the features of FiveStars?

What is FiveStars?

FiveStarsCard is equivalent to a universal membership card, which is bound to the customer's mobile phone number. Customers can get corresponding discounts offered by merchants by swiping the FiveStars card or reporting their mobile phone number when checking out.

The reasons why small and medium-sized businesses are willing to use FiveStars are:

First, FiveStars integrates the membership authentication and management system into the POS machine, so merchants do not need to configure additional systems or equipment. Second, merchants do not need to spend a lot of manpower and financial resources to promote their own membership cards, but can directly share FiveStars' membership. Third, merchants can directly query user profiles and photos in the POS machine, and can formulate personalized discounts or promotional plans based on each customer's consumption habits.

What are the features of FiveStars?

For Amazon sellers:

1. Remind negative reviews immediately and handle them quickly.

2. Match the negative reviews and find the corresponding orders.

3. Regularly monitor the follow-up sales of your products and keep records.

FiveStars’ financing history:

FiveStars was a project of YC Entrepreneurship Class in 2011 and received a seed round of $2 million from several angel investors. In August 2012, FiveStars completed a Series A round of $14 million, led by Lightspeed Venture Partners and DCM.

In September 2014, FiveStars received a new round of financing of US$26 million, led by Menlo Ventures, followed by Lightspeed Venture Partners, DCM, and Rogers Communications. This financing will be mainly used to expand the market in North America, develop new products, and explore the international market.

In early 2016, it received a round of financing of US$50 million, led by HarbourVestPartners, followed by LightspeedVenturePartners, MenloVentures and DCM Ventures.

This is the end of the knowledge about FiveStars in this issue. If you want to get more information about FiveStars, please pay attention and we will continue to answer you~