Then, we built a platform for a kind of expert network that can help you sourcing goods for the cost of discovery. Are companies like Nestlé looking for key ingredients in a particular country? Or is there anyone in France who can talk to me about grapes? We’ve gathered nearly 40,000 people worldwide, each representing a market, and rewarded their connections.
Through the process, we have extracted a lot of intelligence.
The energy and chemical trades were fairly large and infrequent, and the trades were driven by a small number of high-impact large corporations. So we realized that 70-80% of expert network queries came from agriculture, and the market was completely fragmented. No one dominates.
There are thousands of non-standardized products and varieties in agricultural products. Therefore, we initially put our resources into building a data architecture that structures scientific varieties, types of cultivation, packaging, and grades. Without these structures, you would never be able to stack these types of data.
So we became a kind of center of gravity. And once the mass is large enough, you can normalize it.
Can you talk about the role of market intelligence in your platform?
We collect data, data becomes intelligence, intelligence attracts users and many users become premium users, buyers, suppliers. They start trading with us and these deals generate more data and provide feedback to our data intelligence. so, there flywheel effect It actually gets stronger over time.
When handling Tridge, our suppliers are able to handle large numbers of buyers simultaneously without having to have salespeople in multiple countries. And that aggregated demand gives us better bargaining power.
Craig S. Smith is a former Times correspondent and podcast “Eyes on AI“