WeShop Holdings (WSHP) TD Cowen 10th Annual Future of the Consumer Conference summary

Vision and business model

• Aims to create a social commerce platform where users earn equity for shopping and referrals, promoting community ownership at zero investment cost.

• ShareBack program rewards users with shares instead of cashback, integrating with over 1,000 retailers and supporting wishlists, recommendations, and community Q&A.

• Platform acts as an intermediary, not handling money, stock, or customer service, and leverages affiliate networks for revenue.

• ShareBack rates are dynamic and visible to users before purchase, with referral bonuses set at 5% of the purchaser's points.

• All user shares are distributed from a pre-existing trust, avoiding dilution by not issuing new shares.

U.K. pilot and expansion strategy

• U.K. pilot was invitation-only, with no paid acquisition, and generated over GBP 100 million in GMV and 800,000 transactions.

• High average order value driven by travel and high-ticket items; repeat usage increased as users understood and engaged with the platform.

• Community-building through founder programs, events, and influencer partnerships proved effective for user acquisition and engagement.

• Retailers value authentic recommendations and community-driven promotion, leading to strong affiliate relationships.

• U.S. market seen as more receptive due to higher financial literacy and greater familiarity with stock ownership.

U.S. launch and future plans

• Direct listing on Nasdaq completed, with 50% of shares allocated to users; initial valuation reached $5 billion before acquiring U.S. users.

• U.S. rollout focuses on building a local team, product testing, and leveraging founder programs to drive adoption.

• Initial U.S. categories will prioritize travel, beauty, food and beverage, and fast fashion due to high margins and visual appeal.

• Plans to expand into white-label products like insurance and mobile phones, leveraging existing user base and low CAC.

• Long-term vision includes scaling globally, creating a data marketplace for retailers, and potentially reaching a $1 trillion valuation.