Venture(US:VEMLY) Zheng Quan Shi Bao Wang·2025-10-19 12:48Core Viewpoint - Phoebe Gates, daughter of Bill Gates, has founded an AI shopping platform named Phia, which recently raised $8 million in seed funding, showcasing her entrepreneurial spirit and commitment to improving online shopping experiences [1][2]. Company Overview - Phia is a shopping platform aimed at enhancing the online shopping experience for consumers, allowing users to compare prices across different platforms, estimate resale values, and track price drops [2]. - The name "Phia" is derived from Phoebe Gates and her co-founder Sophia Kianni, reflecting their personal connection to the brand [2]. Funding and Financials - Phia has established partnerships with over 150 well-known e-commerce platforms, generating revenue through commissions on consumer purchases [3]. - The company has achieved significant milestones, including a pre-seed funding round of $1.2 million with a post-money valuation of $15 million, followed by an $8 million seed round with a post-money valuation of $32 million [3]. - The seed funding round was led by Kleiner Perkins, with notable investors including Kris Jenner, Michael Rubin, and Sheryl Sandberg [3]. Market Position and User Engagement - Phia has quickly gained traction, ranking in the top 30 of the App Store's free shopping apps and accumulating over 500,000 users, with sales reaching several tens of millions of dollars [3]. - The application features advanced image recognition and search algorithms to streamline the shopping process for users [2]. Founder’s Vision and Goals - Phoebe Gates aims to leverage her success with Phia to invest in female-led businesses, addressing the gender disparity in venture capital funding [4]. - She has expressed a desire to increase the share of venture capital directed towards female founders to 20% before starting her own family [4].