Carmony is a new type of automotive marketplace. Using big data technology, we have developed a new way for car shoppers to find the perfect vehicle that we call “Lifestyle Search.” Lifestyle Search is the marriage of two disjointed processes: the car research process (e.g. sites like Yahoo Autos or Car and Driver) and the car search process (i.e. marketplace sites like Autotrader). By asking shoppers about themselves and what they use their vehicles for, we are capable of matching them directly to vehicles for sale at local dealerships without them ever needing to go do any independent research.
Our biggest roadblock is the “chicken and egg problem.” For our technology to improve and to validate our business model, we need Carmony to reach more car shoppers. We have begun to solve this problem by integrating Carmony’s search functionality directly onto dealership websites, as an alternative to their “old school” make and model search, which gives us valuable data and exposure.
Carmony benefits the average car shopper that doesn’t know cars. Carmony’s Lifestyle Search eliminates hours of wasted time on research and efficiently informs the shopper on what cars meet their unique needs the best. With a data model that gets smarter over time, we can help dealers increase margins and consumers experience a better car shopping and relational experience with their car.
What I Will Do With $5,000
Currently we are restricted by a freemium version of our data mining software, RapidMiner. A one year subscription is exactly $5,000. This tool is integral to our Lifestyle Search. We are already paying for operational costs like server space, hosting, emails, and data syndicators.