Preview

1) Mira debuted its eponymous beauty search engine, merging community with AI to bypass fake reviews.

WHAT HAPPENED: Available as a website and a mobile app, Mira bundles comparative pricing for beauty products and user reviews into digestible synopses. Users can search for beauty products, message with community members, and use facial recognition to find the right products. The company raised $4.5 million from a group of investors including Unilever Ventures and 14W. WHY IT MATTERS
  • The need for authentic reviews is increasingly important as new beauty brands and products continue to emerge. This week the FTC reached a settlement with the cosmetic brand Sunday Riley after it published fake reviews on Sephora.com for close to two years to increase its sales. Thingtesting, a platform promoting unbiased consumer reviews for direct-to-consumer brands, with recent funding from Silicon Valley investors, proves that there is a growing interest in impartial reviews across the consumer economy. Mira’s ability to use algorithms to promote authenticity and transparency within the beauty space is hard to replicate but could make a difference.
  • Service and experience are essential, but Mira’s accessible community and AI-driven product recommendations challenge retailers like Sephora and Ulta. Sephora’s physical footprint and its knowledgeable staff are helpful, but Mira’s algorithms enable consumers to get better results faster. Sephora launched its Insider Community in 2017, which allows users to review products and participate in conversational forums, but only around products stocked at Sephora. Mira’s focus on what’s best for the user, regardless of where the product is sold, makes the beauty-search engine especially valuable.

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