Shoreditch has become famous for its disruptive tech start-ups and now a company named after London’s “Tech City” neighbourhood is hoping to solve a problem for Britain’s 2.6m e-cigarette users by providing the “Dollar Shave Club” for great tasting home-made e-liquids.
The subscription based service, simply called “Shoreditch” aims to dominate the fragmented Vaping market which increasingly favours second generation, refillable vape pens over “cig-a-like” devices. Founder and e-cigarette user Ryan Shaw grew tired of having to shop around to find reasonably priced e-liquid from the best brands in all of his favourite flavours so he decided to do something about it.
Shoreditch has already processed 14,000 orders and has grown to 5,500 subscribers, who can now have their favourite brands delivered to them, same day, and first class, without having to wait at home for delivery (the package fits through a standard sized letterbox) ensuring vapers can stay stocked up and able to continue the activity as a safer and more social way to enjoy a few puffs.
Shoreditch sells 20 different flavours of e-liquid split across 3 categories; Tobacco, Sweets and Fruit, and 3 different strengths, 6, 12 and 18mgs. 1 10ml bottle costs just £3.33 including postage and packaging, allowing for delivery of up to 3 bottles for less than £10. The e-liquid itself is a perfect 50/50 blend of Propylene Glycol and Vegetable glycerine which, its makers say, “deliver a nice throat hit and deliciously thick clouds of vapour.”
“The benefits of vaping have been confirmed by Public Health England and Cancer Research UK but people have been misled by false health claims and confused by a fragmented market. We are here to make vaping simple, affordable, convenient and great tasting” says founder Ryan Shaw; “the 235k investment will allow us to scale our proven customer acquisition channels and test a handful more. We are confident that we can continue producing double digit percentage growth figures over the coming months and we plan on raising a Series A round towards the end of 2016.”
The global market for e-cigarettes has been valued as high as $6bn but is expected to hit $50bn by 2025, which represents astonishing growth. Marketing Manager Christian Pielow has written about his belief that smokers can save more than £2,500 per year by switching to vaping.
With yet another exciting, innovate, disruptive company joining the ranks of tech start-ups, subscription economy plays, software-as-a-service providers, Fin-tech and fash-tech platforms to have raised funding in East London the future looks bright, and by switching to vaping, we can all make sure we are here to enjoy it for longer.