Startup Spotlight #36: StoreyLine

StoreyLine helps you discover and meet mission-driven brands by diverse founders both online and in real life.

Oct 02, 2020

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I got the chance to speak with Minette Yu, co-founder and CEO of StoreyLine, about what she’s working on at her startup, and any advice she has for emerging entrepreneurs.

StoreyLine empowers socially conscious brands and consumers to connect more efficiently through a unique & experiential online marketplace, using data-driven personalization and consumer insights. After graduating from Harvard, Yu was a product management exec and spent 7 years launching retail tech products for direct-to-consumer brands at Boston-area tech companies (Crimson Hexagon, Klaviyo, and ThirdChannel).

Startup Spotlight: StoreyLine

StoreyLine cofounder and CEO Minette Yu.

Problem: There's currently a lack of an efficient way to connect mission-driven consumer brands and socially-conscious consumers. Mission-driven brands, especially those by diverse founders, have few platforms to tell their stories; for modern consumers who want to shop their values, the discovery process is fragmented and frustrating.

Market: We are looking at a massive and rapidly expanding market: Millennials and Gen Z are projected to spend $450 B in the US alone and growing at 15% a year (TAM); 70% of them are willing to spend more on brands that align with their personal values, which is $315 B (SAM).

Solution: StoreyLine empowers socially conscious brands and consumers to connect more efficiently through an experiential online marketplace, using data-driven personalization and consumer insights.

Team: We are a deeply experienced & well-rounded team, bringing world-class industry experience from tech, retail, and eCommerce. I was a technical product manager, and one of my founding teammates, Kathleen, previously led flagship stores for Chanel and Dior in Hong Kong and Paris and had her own online premium handbag company.

Recent Success:

Yu: I've been lucky to recruit and assemble a deeply experienced, competent, and passionate people who really believe in StoreyLine's mission. Building a rockstar team at an early stage is crucial, and also hard to do since we are not able to pay people at the market rate. I've been able to lead with authenticity, compassion, and conviction, and rally a team around a central vision and a common goal. Teams make or break a company, so it's my top priority.

Recent Struggle:

Yu: We did a big pivot due to COVID-19. Before the pandemic, we were going to market with a brick-and-mortar, shared space concept. Luckily, we didn't sign a lease yet and were able to re-prioritize our roadmap quickly with an online platform first. It was the right thing to do; but emotionally, it was painful to de-prioritize something that we'd been working toward for a while.

Founder Advice:

Yu: As an entrepreneur, staying motivated is probably the hardest thing. Ask yourself: why do I want to serve these customers? If you can't find a good answer, it'll be hard to stay committed when things get tough. For me, I'm passionate about empowering minority founders who challenge the status quo and bring differentiated products to the market; even if I pivot again and again down the road, I still want to serve these customers and help them grow.

Four Cool Founders You Should Know About:

Yu: Here are four founders you should check out next!

Ethan Pierce, Founder of Grocery Outpost: Grocery Outpost allows consumers to order grocery bundles directly from wholesale suppliers for pickup at their local neighborhood restaurant.
Mayank Goyal, Founder of Moneyhop: Hop is a new-age digital banking platform that aims at providing international travelers a seamless and economical way of exchanging money.
Madison Rifkin, Founder of Mount: Mount is a tech startup working with scooter and bike-sharing companies to reduce their operating costs by helping them reduce their property damage, theft, and comply with government regulations.

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