That said, it keeps on disrupting and looks set for a global impact. And that’s good enough for us!
The business is built on the notion that trust matters to consumers. Research show that 80% of online shoppers feel more trusting of reviews displayed by a neutral, credible third party. Anson and Phillips founded Reevoo with the idea that trusted reviews are a powerful force in ecommerce that were not being credibly delivered – hence a gap existed in the market. Reevoo began business as a price-comparison shopping site focused on consumer electronics and differentiated by its independent consumer ratings and reviews. In 2011, Reevoo also set up a managed service for retailers and brands, delivering an independently managed ratings and reviews. In the last three years, the B2B side of the company has become Reevoo’s primary business with more than 200 brands and retailers clients worldwide. Reevoo has pioneered a new approach to collecting, moderating and displaying reviews. When compared to the current market offering of open “click to write a review” systems, Reevoo’s closed, invitation-only solution provides greater returns and, it says, eliminates any chance of the brand damage of fake reviews – positive or negative. Reevoo clients, such as KIA and BEKO, now use Reevoo ratings and reviews in national TV advertising. Reevoo revenues have grown rapidly (up 300 per cent to £5m in 2012-2013) across multiple vertical markets, and the firm looks set for rapid international growth, especially in the US.
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