There is a huge disconnect between the way users engage with content on platforms like Instagram and the way that they shop online. Without native links in Instagram posts, influencers are looking for other ways to monetize their posts through services like RewardStyle and now, Geenee.
Geenee is a platform that lets users shop on Instagram by simply taking a snapshot of the post they like, uploading it to the Geenee app, and choosing the item they want to buy. Through image recognition software, Geenee is able to parse through each item in a specific post to determine the brand, the SKU, and where it can be purchased.
Geenee just closed a $4.4 million Series A round from Highlight Communications AG, Constantin Media AG, Stephen Cohen and Steve Titus, among others.
To start out, Geenee is focusing on the fashion vertical, but founder Thorsten Magers told TechCrunch that the company sees a bright future across various verticals.
Influencers only have to register with Geenee one time, which gives the company complete access to the influencer’s Instagram profile and posts. Geenee then scans each of the posts, takes inventory of the items in the picture, and hooks in with its affiliate program to push the user to one of many shopping portals where they can buy the item.
“The idea is to give users the opportunity to act the very moment that they’re inspired,” said founder Thorsten Magers. “Up until now, users had to wait for an email from RewardStyle with these items or do their own research, but we want to make it as easy as taking a screenshot.”
Geenee only works for items or Instagram posts that are within Geenee’s influencer/affiliate networks. However, items that aren’t available (either because they’re too old or too new, as with red carpet looks) can still be identified by the tech, which will offer up a similar item to the end-user.
Much like Reward Style, Geenee takes a cut of sales made through the platform, and gives another slice of the pie to its influencers.
Geenee has more than 200 influencers currently on the platform, with more than 5,000 brands and millions of items.
If you want to check out Geenee for yourself, hit up the website right here.