This month we interviewed Guy Soreq, Marketing Manager at GlowLit a startup company from Columbia University. GlowLit is the world’s most transparent pricing database community that is changing the way purchasing managers’ plan for their Raw Material purchases.
GlowLit holds a growing database of Raw Material prices. Unlike other pricing data base sites, all of this information is entirely shared by those who know the product best — the purchasing managers. All done anonymously, no other site allows you to see recent delivered prices of Raw Materials in your location.
Q. Can you explain in layman’s terms what GlowLit does?
GlowLit presents a new business model to the market research industry. Instead of charging money from buyers of raw material, GlowLit offers buyers a free platform to compare raw material prices. By collecting data points from small buyers that up until now did not get served by the market research, GlowLit is able to paint a picture of global supply and demand, information that manufacturers of raw material crave for.
Q. How did your company get its start?
I have been working as a chemical sales person all of my life. After working at McKinsey and Company, I was hired by Solvay to sell specialty products to unique buyers. It was at that role that I saw the need for information, both from the manufacturer and the seller side. Specific courses at Columbia Business School allowed me to connect several dots and build what GlowLit is today.
Q. What are your potential markets?
GlowLit’s services are applicable to any B2B company that buys raw materials. Among the industries the platform currently serves are Plastics, Petrochemicals, Oil and Gas, Pharmaceutical products and food manufacturing.
Q. What are your visions for GlowLit over the next 5-10 years?
Many industries today have a transparent pricing system. A customer that goes into BestBuy can check with a flick of a finger what the new gadget will cost them if they bought it from Amazon. GlowLit will offer that level of service but to purchases worth millions of dollars, in every manufacturing industry, in every corner of the earth.