A former internationally ranked junior tennis player founded this company.
Believing in the vision of what BUTLUR is trying to become, Brian Chin, its founder, left his job at a well paying hedge fund in New York to move to Hong Kong and start his company.
BUTLUR aims to help discerning people enhance relationships by assisting them in the discovery of thoughtful gifts. Those who join the social commerce platform will have access to gift recommendations generated by BUTLUR’s adaptive algorithm.
“Gifting has always been a problem with me. It’s really time consuming and I never know what to get someone whether it’s a girlfriend or my parents. There is nothing online that caters towards the upper middle class in terms of price point and taste,” he said.
BUTLUR believes that there is an information gap between the buyer of a gift and what he/she thinks the gift recipient wants and what the recipient actually wants.
BUTLUR uses an innovative social network and iterative algorithm to bridge this gap.BUTLUR aims to combine social data and commerce with personalized recommendations at no cost to the consumer.
BUTLUR membership is free membership while their curated gifts are sold at retail price. In addition, BUTLUR members receive access to premium services such as custom designed products, personalization options and gift wrapping.
Brian said that he decided to start the Company in Hong Kong given its distinct population mix and attractive demographics relative to BUTLUR’s target audience.
BUTLUR’s target demographic is the mass luxury market with sophisticated taste. He revealed that the company looks to further expand into the US and Mainland China from its headquarters in Hong Kong.
“We have set up our business to have minimal fixed costs, which allow us flexibility to maximize margins and sustain our business over the long run.” said Brian.
Brian said that the company is currently self-funded but they plan to raise some funding to grow BUTLUR’s member base and develop some additional technology functionality.
Brian Chin enjoys investing, golf, travel and eating yummy food. Fully appreciating the difficulties of finding the perfect gift, he hopes to use his experiences to help ease the process for all.
Brian has an MBA degree from Columbia Business School, a Bachelor of Arts in Economics from Amherst College where he was selected captain of the varsity tennis team and attended the General Course Program at the London School
Before BUTLUR, Brian was an internationally ranked junior tennis player and traveled the world to compete in tournaments. After graduating from Amherst College,
Brian worked in consulting and investment banking before being accepted into Columbia’s prestigious Value Investing Program. After graduation, Brian was looking at global public investment opportunities for a US$40B investment
fund in New York.
Name of the Company: BUTLUR
Founder: Brian Chin
Total Funding at hand: NA
Source of Funding: NA
Major Investors: Founder (Seeking to raise outside funding in the near term)
Start of Operation: November 2013
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