Fancy setting up your own online business? Now you can — and for $20 — courtesy of an innovative Israeli-start-up.
Founded in 2011, IzzoNet is an e-commerce platform that helps users to build a website from scratch.
It has been dubbed one of the hottest new companies to come out of Israel. It has over 500 clients and is already considering a listing on the London market later this year.
So, how does it work? IzzoNet offers a variety of specialised software packages. All of them include the basic features needed for the successful running of an online store. There is the option to add a number of functionalities that are needed for the development of a large-scale project.
Users sign-up and receive a 15-day trial. They will then be contacted by a support expert, who will recommend and support them through a specific package. Packages range from between $20 and $300 a month, depending on the plan.
Elliot Jaffe, who is on the senior management team at IzzoNet, says: “We are trying to revolutionise e-commerce and cover all the steps that other platforms don’t do.”
Competitors include popular website builder, Wix, but Mr Jaffe belives IzzoNet has the edge. IzzoNet has an extensive feature list and full flexibility, meaning users can adapt it to fit your needs, rather than the other way around.
“Competitors say that they help you build a website from scratch but how do they know what works? We provide the templates that work.” He adds: “We know how to get the best results for them.”
A former finance trader, Mr Jaffe, 35, joined IzzoNet in 2011 after he made aliyah from London. “I knew nothing about e-commerce before I started but I am amazed by some of the figures.”
The global e-commerce market is valued at around $20 billion, and growing, with the UK ranked number one in terms of how much people spend online. “It’s crazy. Billions and billions are spent.”
IzzoNet, which recently launched its new system, was founded by virtual store expert, Tallya Rabinovitch, the current chief executive.
It began targeting the US market but is also now focusing on the UK — it plans to open an office there — and is also eyeing up sites in Brazil, Russia and some Arabic countries.
“We have had interest from celebrity clients but we want to help ‘Mr and Mrs Smith with their cupcake shop’,” says Mr Jaffe.The company has even received a call from someone wanting to set up an online store for his “wine-sipping socks,” reveals Mr Jaffe. “They were socks that you wear while drinking wine. And they sold a fortune. You can make money selling anything online today. It’s the way you promote it and excite people about it.
“It’s a way to make a real income in this downturn. You can set something up online so cheaply and with low overheads.”
Mr Jaffe grew up in north London and studied at University College London. He trained internationally as a finance trading working in several countries including Switzerland as head of Brookland Securities.
He joined IzzoNet in 2011 as investor relations officer and is responsible for the raising of funds and the current investors at the company. He specialises in assisting with future flotation plans and global solutions for IzzoNet.