QR Codes will come to the forefront of the retail market with help from JD Maresco becoming the founder and the first official investor of Batch. Batch intends to be a retailer or companies main go to by helping a buyer to see information in one place; while the company can take the information and be able to place it within a QR code. It does have to be noted that as of right now reliant on Apple’s App Clip technology according to the press release that was announced on June 23, 2021. Because JD Maresco has been in charge of past venture capitals; this is why Batch has been able to come into frustration, based on Maresco’s experience with previous vc firms.
But what does Batch do? What’s the purpose of this company utilizing QR Codes only? Batch is about making the retail world a one-tap, quick shopping experience. Not only will shoppers be able to scan the QR Code but retailers can receive immediate money from the consumers one-tap buying option. This is currently where our shopping experience future is headed and Batch is leading the journey.
The employee status at Batch is 1 – 10 employed individuals, Batch is currently a private company. As of today, there does not seem to be a co-founding partner, only JD Maresco is the founder. JD Maresco has a lot of experience under his name, and it comes as no surprise that he has dabbled in venture capital funds. Batch is located in New York and has raised $5 Million in their very first seed round. But who were the co-led investors to allow Batch to reach that $5 Million? They were the band The Chainsmokers, Weekend Fund, Coatue, Shrug Capital, and Seven Seven Six. However, what about Batch’s competition well that’s a both a short and long list. The short list is that Batch is one of the first in their field when it comes to making sure QR Code will be the digital form of pay, but the competitors would be the companies like PayPal and Wise who utilize an electronic wire transfer to pay to retailors for anything an individual decided to buy online. Yet, Batch has had private and public companies investing in their idea. The big point is that Batch wants QR Codes available in stores for people to simply use their phone, scan the code and that person has bought all that they’ve collected in their basket.
As far as merging companies go, there has not been an indication that Batch would merge with another company however, that could happen later on down the line. Batch is a start-up company even if the founding individual has created and led large venture capitals to success beforehand. The important thing about Batch is how new and technology forward this idea and company has become just in 2021, since Batch was founded in 2020. The growth potential here is substantial and should be watched closely if investors intend to make a mark in the beginning years, Batch is growing quickly and other companies in their similar field will need to learn to catch up.
Company Website: https://www.getbatch.com/
JD Maresco Twitter: https://twitter.com/jdmaresco