The gregarious Doreen Bloch, member of Forbes best-of-the-best 30 under 30 list and CEO of consumer intelligence company Poshly, strutted her business savvy last week at FEM Tech.
The Palo Alto native studied at UC Berkeley from 2006-2010, graduated a semester early, and moved to New York City where she worked at finance company Second Market. It was at this time, during a visit to a local drug store, that inspiration for Poshly struck.
“One of my most meaningful inspirations for creating Poshly stemmed from my personal vexation over the cosmetics shopping experience never feeling quite personalized enough — I wanted a more data-driven way to shop,” Bloch said over e-mail. “I figured if I could gather data from a diverse set of individuals, it would be possible to correlate product preferences in a more robust way.”
Shortly after this, Bloch put up a website where people could share data about themselves in exchange for prizes. She had $85 in her bank account when the first investors rolled in. After that she raised $2 million.
“It may not be easy, but creating your own company is possible.”
Poshly is a data mine field, providing consumer information to companies (think Eucerin, Benefit cosmetics, InStyle), which it extracts through entry-question giveaways on its website. Members win all sorts of things, like the gloves Rhianna wore in her Riri perfume ad, jewelrey, and countless beauty products. Users enter these contests by completing a survey about their consumer habits, and can take as many surveys to enter as many times as they want.
Bloch talked about the gender gap in the business, noting the game women have to play with venture capitalists to raise funding. She also talked about the low percentage of female CEO’s, which currently rests at 4.6 percent for Fortune 500 companies.
“It is important to me now to show others, especially fellow young women who simply don’t have enough role models, that it can be done,” she said over e-mail. “It may not be easy, but creating your own company is possible.”