Friday, May 30, 2014

Big News at Bindo

Some very cool news related to the Bindo Point of Sale (POS) solution.  As I have mentioned before, Bindo POS is a true "Mobile 2.0" point of sale solution with additional features and functions not found in Clover or Silver.  Bindo POS still retains the affordable monthly payment structure that today's retailers prefer over an upfront cost of $4000-$10000+ for a traditional point of sale system.

Based on phone calls and emails that I receive several times per week via this (rather basic) blog site, retailers of all sizes are choosing Bindo as their POS solution with a nearly 5 to 1 margin over other solutions like NCR Silver, Clover, QuickBooks POS, NCR CounterPoint, Retail Pro, and Microsoft Dynamics RMS.

I also want to let folks know that Bindo will be expanding to service the geographical areas formally served by DirectPOS who stopped selling and supporting POS systems in late summer 2013.  This is great news for retail stores and museums in the states of Idaho, Utah, Wyoming, Oregon, Washington and Montana!

Here is the official press release from Bindo:

Benedict Wong 
VP Business Development at Bindo 
Bindo Expands in Asia: An iPad POS That Helps Small Businesses Compete with Amazon 
MAY 29th, 2014 (New York, NY) ­ Bindo, a New York­based retail startup has just raised an 
oversubscribed $1.8mn seed round for international expansion. The round is co­led by Gary 
Vaynerchuk, a renowned social media and wine expert, and Singapore/Tokyo­based East 
Ventures. Other investors include NYC­based Metamorphic Ventures, and other private angels 
with decades of experience in brick and mortar retail, ecommerce and internet­related 
Bindo has developed a cloud­based iPad Point of Sale (POS) system that enables 24/7 online 
shopping for the end consumer. Not only does the POS offer a comprehensive array of features 
ranging from inventory management to customer relationship management (CRM), Bindo offers 
merchants the mobility to consult, sell, and close the deal simultaneously, providing a VIP 
experience to every customer. Its CRM creates customer profiles at the point of checkout 
enabling the merchant to later engage with the customer post­sale. 
More uniquely, merchants can launch their entire store online onto web and mobile with one click 
and efficiently operate omni­channel commerce with one unified inventory, saving hours of store 
management tasks each week. This turns the POS into a powerful retail platform capable of true 
online and offline commerce. Bindo Marketplace then aggregates all the stores on the Bindo 
network, onto one consumer platform, and allows consumers to shop from their favorite 
neighborhood store online, and have it delivered within hours 
 “Our mission at Bindo is really to strengthen local economies and support local businesses, 
whilst making shopping more convenient for consumers”, said Brad Lauster, cofounder of Bindo. 
“Having personally experienced the difficulties small business face selling online, we wanted to 
find a way to bring merchants online without diluting brand awareness. We are not interested in 
simply providing an online storefront for merchants to promote themselves; we are aggressively 
co­marketing our marketplace with our merchants so that together, we have the means to battle 
the Goliaths of e­commerce.” 
The Bindo Marketplace app also makes mobile commerce and e­commerce infinitely more 
convenient for the consumer, by bridging the gap between online and offline retail. In­store 
purchases are saved, viewable and reorderable on the mobile app, and loyalty points are tracked 
across multiple channels. It is a hyperlocal marketplace for consumers that want to find and 
purchase a particular product in their neighborhood stores online, which they can do so scanning 
the barcode with their app. 
Bindo will split the funding equally between development and sales. The development team will 
focus on delivering the Marketplace and providing a seamless experience for both merchant and 
consumer. Since Bindo’s private beta launch, inbound leads have been increasing exponentially 
each month; substantial resources will be allocated to scaling the sales team to support the 
rapidly growing number of merchant demo requests. 
Bindo is a NYC startup with offices in Hong Kong. It was founded in 2011 by Jason Ngan and 
Brad Lauster. Bindo has developed a cloud­based iPad POS (Point­of­Sale) that enables online 
shopping for the end consumer. In a few months, it will be releasing Bindo Marketplace: a 
consumer app that aggregates all the stores using Bindo POS onto one platform, allowing 
consumers to purchase directly online from their favorite neighborhood store, and have it 
delivered. In doing so, Bindo aims to close the loop between the online and the offline. As the 
network grows, Bindo becomes a real­time product graph, connecting brands, consumers and 

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