2024 McGinnis Venture Competition Final Round Celebration: Sitewiz Pitch

we're down to our final three so we're getting close thank you for those that have been here all day really appreciate the stamina uh Stephen will you stand up for a second please Stephen is one of

our alumni and I see many alumni and Friends of CMU that here and Stephen runs the CMU Tech and Entrepreneurship alumni Group which is a very large worldwide group of alumni that want to

stay connected to Carnegie melon and to technology so uh if you get a chance to come and meet Stephen at the award ceremony he can tell you all about it uh

we we do uh Zoom uh events monthly and we've got in-person events in many many cities which we could talk about tonight so thank you great super uh this is another one of our undergraduate teams

that's playing up in the big leagues and uh so we're excited about that uh if if you're wondering uh has it been done before it has been done before a co-pilot that was then called Delta

trainer uh uh one in this division they've gone on to raise 30 plus million dollars and doing 10 million doll in ARR right now so these are real teams that

come out of this so hopefully cheese was I mean site Wiz um bad joke I'm full of bad jokes uh site Wiz is is is is

automating uh the iterative operations of e-commerce sites than you Dave I'll uh let Drake take it away from here

in November of last year we were on a call with Jared Miller director of e-commerce analytics and personalization at Kendra Scott and one of the things

that he said really resonated with us he said we needed insights not data and over the next few months we've been on calls with 40 e-commerce analysts directors and

managers and they've corroborated suggesting hey we have access to tools like Google analytics and hotar but these don't give us access to actionable suggestions or changes for our site

another thing that they articulated included that takes a while for iteration to even get out to the developers they often have decentralized teams and there isn't a lot of

communication that allows for quick iterating and that's why we decided to build site wi site wi is an aid driven iterative optimization platform and it's

going to change the way that e-commerce analysts do their jobs here's the demo that got us our first 70 users and two paid users you're able to input your site URL and it gives you Graphics text

and structure suggestions aimed at improving your conversion rate and when Jared Miller saw this demo he was so excited that he not only wanted to be our customer he also wanted to be our

adviser now let's tell you a little bit more about how it works yeah so we provide actual changes not just data so imagine you're a business owner or an e-commerce analyst and you're confused as to how you can

improve your website well you put your url into our platform and in 60 seconds we scrape all of your text Graphics SEO data any metadata or existing

Integrations that you have and then give you actable changes that you can act on immediately so here are two scenarios on the left is an analyst and they're providing suggestions with a much lower

approval rate because the data is very hard to interpret versus for us we give you suggestions that end up giving you a much higher approval rate so first we convert your raw data into

easily understood insights and we do this with our proprietary models and by collecting um user interaction data from customers and then we put that in a feedback loop with our models what this

means is every new customer we get we're that much harder to replicate by other competitors here's an example for what it means to have an Insight which is not just numerics but an actual holistic

understanding of what the numerics mean then we move the guesswork for you our gen turns these insights into actable changes and we are training our models by partnering up with a company

called Web Visio they're a live website feedback tool and they have 10,000 users and they only work with us and nobody else and that is our data

mode so here's an example of suggestions and notice that we give you reasoning and also numerics that best justify those reasonings and finally these actable

changes are easily implemented a onto your site in real time you can toggle these changes to see what they would look like and we also give you access to the code that's responsible for this and integrate into any existing code bases

you have for the least amount of friction possible so let's look into our pricing model R2 fits the needs of small mediumsized businesses saving 2 200 per month compared to traditional conversion

rate Optimizer experts and we're planning on scale to Enterprise level contracts as we build out our features and there's a clear need for R tool according to a VP at a top e-commerce store they could see our tool

and use it to iterate faster and personalize the website further for customers and get this a director of product marketing said they could see our tool taking over the entry level

analyst role which cost businesses tens of thousands of dollars in salary there's a 12 billion T Middle Market with a$ 42 billion total Market

size we're planning on targeting the Shopify stores that needed the most and in comp analysis we're the only tool turning insights into actionable changes other AI tools and site

optimizers using generative AI just use GPT to change the text on your site but GPT wasn't even trained for optimization or e-commerce and we're proud to share some

of our journey and how far we've come four months ago in November of last year we launched our website we won cmu's hacka startup we acquired our first 70 dashboard users we partnered with web Vio and we've gotten our first paid

traction with two customers here are some of the brands that trust us including skill buer weio Kendra Scott and other notable e-commerce Brands our team is also extremely diverse with strength in Ai

and product management and we're so thankful to get to work with these advisers such as Adam paic who's helping us with our optimization Professor gy who helping us with marketing and kit NM who helping us

with operations Jared Miller is helping us with insights uh from e-commerce and digital analytics with his 12 years of experience St thanks

so given the very contextual needs for different websites and different Industries how does your AI adapt to different purposes for across websites yeah that's actually a great

question so first is we definitely only like track user interactions based on our customers websites so their

customers and our models are trained to work only for the e-commerce space and are meant to be adaptable to our customers needs based on the context that we give our

models and uh are you trying to Target a particular industry uh yeah the just e-commerce in general um

and yeah uh no no particular sort of section of e-commerce where did you get your training data for the models so one is we collect the data ourselves from the

our our customers and their website traffic um and two our real data mode is from a company called Web Vio and web

Vio is a live website feedback tool they enable their users to provide feedback on other people's websites like on just the UI instead of you know traditionally somebody would go and like have a

notebook and write down like what needs to be improved um so we actually collect data from them and they only work with us and nobody else they also have 10,000

websites that we can use for training is that a formal partnership or yes okay one more question um often

Google will tweak their algorithms and very quickly what was good is now bad how do you um respond to that versus waiting for sort of the AI feedback loop and such to tell

you yeah so we actually try to optimize your user Journey on your site that would be something that's related to SEO uh so visibility on something like Google search engine which is something

that we could offer but it's not our primary feature or highest value sort of highest driving value Factor we're mainly optimizing for user Journeys on the site itself which is increasing the

usability and increasing the chance that the user is actually going to purchase a product so there's those text graphic structure changes which we're focusing on the sites so would this be applicable at all

to large Enterprise like a B2B enterprise software company

if they wanted help improving their SEO yeah that is one of the secondary markets for us our primary Market is like like you said is all of e-commerce secondary Market is going to be SAS

tools B2B SAS which can which want to improve or increase the number of customers using their tool yeah sorry uh to further answer that question we actually hopped on a a quick meeting with NAD Shaw who's the CEO Wayfair and

something that he articulated is that they have a six-month uh website revamp and one of the issues that they have is prioritizing which suggestions to go forward with they have too many suggestions they need to help prioritizing that's something that we

can help with too so yes definitely the big Enterprises it's something we can help them with down the road so e-commerce as an idea is a very

huge kind of concept I mean from from what I've seen from your uh from your um examples it seems that you're more

focused on like kind of individual almost like Merchant sales um is is that sort of like what you're tailoring your AI to

do uh yeah currently at the moment it's for like the kind of sales that you suggested um so not like wholesale or anything like Shopify only right uh

Shopify is our current Beach head and then uh we definitely plan to scale to more Enterprise level customers who who don't operate on Shopify exclusively and

might just like host their own sort of services yeah just intuitively from your slides are you presenting uh a user interface like a front end so that me

the dumb website developer has a better idea of what you're suggesting I do as opposed to just showing me a bunch of tables I can't read exactly okay uh that that's our value here yeah sorry I think there was a

little bit of a glitch with some of the slides but we're live at site wiz. as a

the back left corner there try it out add questions thank you so much have a good day everyone