The Snapcart founding team
Teresa Condicion, the CEO and co-founder of Snapcart, a cashback app that incentivises consumers to take photos of their receipts in exchange for rewards, is resigning from her role effective September 30, 2019, to start a new venture, Shoplinks, the official statement reads.
Condicion started as a Co-Founder and Chief Data Officer (CDO) at Snapcart after a long tenure in P&G as Head of ASEAN Consumer and Retail analytics. In her tenure as CDO, she led a team of data scientists in developing over 400 machine learning models that read, structure, and predict the content of the receipts to deliver data analytics to clients at five times the speed of incumbents.
In 2019, she took over as CEO to help drive the company’s focus towards full automation to improve margins.
On her departure, Condicion shared her thoughts: “As my first entrepreneurial journey coming from a long-tenured corporate role, it was an incredible achievement to be part of one of the most promising and funded startups in the region.”
Also Read: Snapcart, an app that gives cashback for receipts, launches in Singapore
Furthermore, Condicion also discussed the outlook of the online retail industry. “The use of data in the CPG and offline retail space is in its nascent stage, there are immense opportunities in this space. The data available tends to be siloed, unprocessed, and not positioned to compete in the new data-driven world. Brick and mortar retailers and brands could do more by partnering together and combining their resources to better compete,” said Condicion.
With that in mind, Condicion also shared about her new venture, Shoplinks, that will allow one-to-one offline marketing by providing secure data sharing, data matching, and AI-enabled engagement platforms to CPG and retail.
Being a client of incumbent data providers in Snapcart, her vision was, in particular, to “disrupt the way offline data is measured and analysed, moving from the traditional manual audits and surveys to using crowdsourcing and applying AI to read receipts”.
The break from Snapcart came amidst differences on how to take the company forward. “My goal is to drive data innovation to solve the many challenges of the industry. I decided, and we agreed amicably, that I can better achieve my goals with a new venture”.
She will handover the Snapcart reins back to Reynazran Royono, her cofounder who was the Snapcart CEO before her appointment.
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