Stanford Roommates Turn Dorm Idea into $8M Revolution in E-commerce

The Rise of Phia: How Two Stanford Roommates Revolutionized the Way We Shop In a small dorm room at Stanford University, two unlikely friends hatched an idea that would change the way we shop forever. Phoebe Gates and Sophia Kianni, randomly assigned roommates, bonded over their shared passion for activism and business. As they pored over articles in their kitchen, called potential customers from their floors, and scribbled on a whiteboard, one topic kept emerging: clothes. Both avid secondhand shoppers, they realized that they – and countless others like them – spent hours researching, comparing prices, and opening tabs on their computers before making a purchase. "We wanted to create something that could do all of our shopping for us," Kianni explained, "something that would make it instant and effortless." And so, Phia was born. The startup's mission is to revolutionize the way we shop by using AI-powered technology to simplify the process, reduce waste, and promote sustainability. The Birth of an Idea Gates and Kianni's dorm room became a makeshift lab, where they spent countless hours brainstorming, researching, and testing their idea. They drew inspiration from their own shopping habits, as well as those of their friends and peers. "We were both guilty of buying clothes that we didn't need, just because it was on sale or looked good online," Kianni admitted. "But we knew there had to be a better way." As they delved deeper into the world of e-commerce, they discovered a staggering reality: the fashion industry is one of the largest polluters in the world, with millions of tons of waste generated each year. The statistics were daunting, but Gates and Kianni saw an opportunity to make a difference. The Power of AI Phia's solution lies in its proprietary AI technology, which uses machine learning algorithms to analyze consumer behavior, predict trends, and recommend personalized shopping experiences. The platform aggregates data from various sources, including social media, online marketplaces, and even traditional brick-and-mortar stores. "We're not just building a shopping app," Gates explained. "We're creating a platform that understands the complexities of human behavior and uses AI to simplify the shopping experience." By leveraging this technology, Phia aims to reduce waste, promote sustainability, and make shopping more accessible for everyone. A New Era in E-commerce Phia's recent $8 million seed round, led by Kleiner Perkins, is a testament to the startup's potential. The funding will be used to further develop the platform, expand its team, and bring Phia to market. As the e-commerce landscape continues to evolve, Phia is poised to disrupt the status quo. With its innovative use of AI technology and commitment to sustainability, the startup is redefining the way we shop – and making a positive impact on the planet in the process. A Conversation with Sophia Kianni We sat down with Kianni to discuss Phia's vision, challenges, and future plans. Term Sheet: What inspired you and Phoebe to start Phia? Sophia Kianni: We were both passionate about sustainability and social justice. We saw an opportunity to combine our interests and create a platform that would make shopping more accessible and sustainable for everyone. Term Sheet: How does Phia's AI technology work? Kianni: Our proprietary algorithm uses machine learning to analyze consumer behavior, predict trends, and recommend personalized shopping experiences. It's like having your own personal shopping assistant. Term Sheet: What are the biggest challenges you're facing as a startup? Kianni: One of the biggest challenges is scaling our technology while maintaining our commitment to sustainability. We're constantly working to improve our platform and make it more efficient. A New Era in Shopping Phia's story serves as a reminder that innovation can come from unexpected places – even a small dorm room at Stanford University. As we navigate the complexities of e-commerce, Phia is leading the charge towards a more sustainable, accessible, and user-friendly shopping experience. With its cutting-edge AI technology and commitment to sustainability, Phia is poised to revolutionize the way we shop. Join us as we explore this exciting new frontier in e-commerce – and discover how Phia is changing the game. *Based on reporting by Fortune.*