Pattern is a moderately new startup that was formed to help unknown brands find their niche in the marketplace. The founders of the company are committed to helping brands that are not living up to their true potential in the marketplace, optimize their product lines to grow and thrive. Uniquely, Pattern does not offer these companies a software program or consultation about marketing strategies. Instead, it purchases its stock of inventory, which drives up sales figures immediately. Then Pattern optimizes sales by figuring out where the problems are and fixing them. If you're not yet familiar with this unique enterprise, here are 20 things you probably didn't know about Pattern to bring you up to speed.
1. Pattern is an accelerator
According to Techcrunch, Pattern is an e-commerce accelerator with a platform that works with brands. Their overall goal is to accelerate their sales by buying inventory. They offer unique services that determine why there are gaps in sales, then they optimize the brands across marketplaces. They identify new insights for each of the brands they serve to boost the sales margins and increase productivity.
2. The co-founders are from Utah
Pattern is an American company with its headquarters in Lehi, Utah. The company is the result of the collaboration of its co-founders Melanie Alder and David Wright. The pair started the business in Melanie's living room, but it didn't look anything like the wildly successful enterprise it is today. They started out selling refrigerator magnets. They achieved success from that first venture and continued to add brands to their repertoire.
3. The founders have plans for further expansion
The company's home base is in Utah but Alder and Wright have big plans for their startup. They see the company expanding its global presence to reach even more brands around the world. This is a huge undertaking, but if they continue to progress on their current trajectory, the two are likely to accomplish this lofty goal.
4. They're changing the face of e-commerce
Pattern is a disruptor in the e-commerce industry that is joining the increasing number of e-commerce accelerators who help brands to succeed. The CEO of Pattern sees accelerators as the wave of the future that will succeed over the aggregators, who merely buy up smaller brands. Pattern has a different kind of platform that works with the brands to accelerate the sales, simply by purchasing the inventory of the brand, not buying the company. They optimize the brands across multiple marketplaces and enhance sales. Everyone wins under the Pattern platform.
5. Pattern is on a mission to overturn aggregators
Pattern is an accelerator for e-commerce that has plans to bring such a high level of disruption to the e-commerce industry that aggregators will no longer be at the top of the food chain. The Pattern platform is so efficient and beneficial that the odds are in favor of it upending the industry so the aggregators will not have a choice other than to join them and to become accelerators. The CEO of Pattern doesn't think that aggregators will be able to survive under their current platforms for much longer. Within a few short years, Pattern may exert such influence on the industry that we're going to see big changes.
6. Pattern started on a shoestring and is now a major employer
When Pattern was first launched it was a small enterprise with two co-founders. The company has grown exponentially to employ a workforce of over 900 employees. On top of that, Pattern works with more than one hundred brands throughout the world.
7. Pattern is a navigation expert
Pattern's platform provides navigation expertise for brands that partner with them. It helps its partner companies to navigate the marketplace world and to optimize their sales. It's one of the most beneficial services that a company can partner with when sales are not reaching their full potential. Pattern's team of experts is skilled in marketing products and increasing sales. They have a few secrets that allow them to be so effective, but these are the trademarks that they're not yet sharing with the rest of the world. If companies didn't need them then they wouldn't be in business for long.
8. Pattern is a versatile and diverse company
According to Crunchbase, Pattern is listed on the internet across five different industries. It is a digital marketing company that specializes in e-commerce. It is also a logistics company that works with retail technology in the marketplace. It is also in the diversity spotlight in the United States as a woman-founded and woman-led establishment.
9. Pattern is an established company
Pattern was founded in 2013. As of 2021, the enterprise has been in operation for eight years. During this time the owners built it up into a thriving business that serves more than a hundred other companies, helping them to become established in the e-commerce sector of the retail industry. The legal name of the business is Pattern, Inc.
10. Pattern uses a complex array of technologies
The Pattern website provides visitors with a smooth and seamless experience. The Pattern website actively uses a total of fifty-one technologies to power its website. Some of the technology products and services that it uses include iPhone Mobile Compatible, LetsEncrypt, Viewport Meta, and several others. This kind of technology is not cheap. Although Pattern has not disclosed the amount of its annual IT budget, it is believed to be in the tens of thousands each year.
11. Pattern has an edge over its competitors
Pattern is a unique platform that is unlike any other in its niche of the tech industry. We discovered that Patterns has secured six registered trademarks in the advertising business category. These trademarks protect the intellectual properties that were developed by Pattern for its express use. When we talked about the secret they're not sharing with anyone else, it was a direct reference to the legally protected technologies that Pattern uses to set them apart from all the rest of the accelerators in the e-commerce industry. None of its rivals can copy or imitate these six aspects of its operations which is enough to make them stand out.
12. Pattern is gaining in popularity
The analytics for the Pattern website shows that the site has received a total of 58,372 unique visitors to its website over the past thirty days. This represents a monthly visits growth that is 4.5 percent less than the previous month. Websites usually experience trends of ups and downs in web traffic volumes and it's no reason for concern. Patter is ranked at number 470,797 of the millions of websites registered on the world wide web.
13. Pattern is the most popular in the United States
The highest percentage of visitors to the Pattern website are from the United States. The monthly visits growth rate for USA web traffic has grown by 12.37 percent over the last 30 days. Thirteen percent of the web traffic is from India. Seven percent of the visitors are from the United Kingdom. Six percent are from Australia and five percent are from Canada. The analytics tools track where visitors originate from along with other specifics about their visits that help decision-makers see where the greatest interest in Pattern's products and services is coming from. It helps them to know where expansion efforts may be the most fruitful. It also tells them where more work is needed to enhance current marketing efforts.
14. Pattern has a 7-member core leadership team
The executive leadership team at Pattern is comprised of seven members. Sarah Beard is the CHRO. Steven Ellis is the executive vice president. Jason Wells is the chief technology officer. David Wright is a co-founder and the chief executive officer. Melanie Alder is a co-founder and chief investment officer. Jason Beesley is the chief financial officer at Pattern. These are the members of the executive leadership team. They are supported by hundreds of managers at various levels, along with support and administrative staff members.
15. Pattern is also an investment firm
One of the most recent divisions added to Pattern is its investment arm. This division of the company is led by co-founder and CIO Melanie Alder. So far, Pattern has made one major investment. It participated in a seed round of fundraising for a company called Route. The total amount of the investment was $12 million and was made on November 21, 2019. It is also worth noting that Pattern was a lead investor in the Route fundraising effort. This is the only angel investment on record for the company so far.
16. Pattern acquired Practicology
Pattern acquired a company called Practicology on October 4, 2018. Practicology is the first and only acquisition that Pattern has made so far. This marks a pivotal point in the development and expansion of the company. Practicology is located in London, England and it now gives Pattern a base for more deeply penetrating the European market with its platform. Practicology is a similar business that provides consultation for small businesses in the online e-commerce community to reach their business goals. Details of the acquisition have not yet been disclosed, so we don't know how much Pattern paid for the acquisition, or much more about the terms of the deal. It is, however, assumed that Practicology will continue to operate on a business as a usual contingency as a subsidiary of its parent company Pattern.
17. Pattern is a privately held enterprise
The co-founders/owners of Pattern have chosen to keep the business as a privately owned organization. for this reason, you won't find any shares of Pattern sock available on any of the public stock markets. Pattern has not yet filed for an IPO. Instead of using the public arena as a vehicle for fundraising, they have opted to seek assistance from private investors.
18. Pattern is a venture capital-funded organization
So far, Pattern has participated in two rounds of venture capital fundraising. The most recent was an undisclosed round that closed on October 6, 2021. The total amount raised in these efforts is $277 million. Pattern is supported by five investors, three of which are lead. The investors include Banner Ventures, Knox Lane, KSV Global, a lead investor, Duchossois Capital Management, and Carlson Private Capital Partners. Investor confidence in Pattern's likelihood of succeeding is high. This is apparent by the large number of investment funds they've put into the business to this point.
19. Pattern is hiring
According to LinkedIn, Pattern is currently expanding its workforce. It has listed a total of 96 job openings on the website. While many of the current openings are for various positions at the headquarters in Lehi, Utah, they're also hiring in other parts of the world. Pattern has also listed job openings in Melbourne, Australia, in Sydney, Australia, Pune, Maharashtra, India, London, England, Northampton, England, Munich, Bavaria, Germany, Hong Kong, Guangzhou, Guangdong, China, and in Singapore. This is evidence that Pattern is moving ahead with its plans to increase its global reach. It's not only moving into parts of Europe, but also Australia, and into Asia. The number of new jobs that Pattern is adding to its workforce represents a growth of more than ten percent overall.
20. Pattern is a company to keep your eye on
Pattern is just entering into a new phase of its development. The company has been in business for eight years and it has already grown into a global operation. Its overall goal is to help companies realize their full marketing potential by purchasing their inventories and marketing them across the various marketplaces. Pattern has maintained a steady pace of growth and development and it is moving ahead on a solid trajectory. It has the potential to cause some major disruptions for businesses like Amazon and other large aggregators. It's one worth keeping your eye on as we expect to hear more about them in the future.
Written by Allen Lee
Read more posts by Allen Lee