In 2004, Premity was formed to give life to a product called CityVantage. When we started Premity, we envisioned CityVantage as an online version of the Entertainment Book, with valuable discounts to local retailers, printable from the consumer’s computer.
After building a network of merchants in three cities, a respectable user base that was printing hundreds of coupons per month, we decided that CityVantage was just not scalable enough. By not scalable enough, I mean not profitable.
We took some deep breaths, lasting several months and tried to regroup and de-stress. We took inventory of what we had built and our experience over the prior three years. We emerged with a new business model and a new interface wrapped around our original coupon printing technology.
After months of rebuilding, we now have our new business, the Premity Interactive Coupon System, designed for those companies currently working to promote and advertise retail merchants. Check out who we think would be a good fit for our system.
Our goal is to help retailers turn Web traffic into foot traffic.
Through our experience of working more than three years, abandoning our original concept and rebuilding, I now feel like we’re a startup again. Only this time around, we’ve learned some hard lessons and have a better understanding of what we need to do to build a successful company. We’ve admitted our failures, examined them and relaunched.
We’re a Restartup.