What is the news: Tacit Knowledge, a Grid Dynamics
Holdings, Inc.(NASDAQ:GDYN) company has partnered with healthtech
startup, selfologi, to launch a first of its kind, all-in-one
online platform where cosmetic consumers can access trusted
information about procedures, explore their local markets and book
themselves professional aesthetic treatments. This innovative
business leverages a Composable Commerce IT architecture to meet
the unique needs of their customers and fast moving business.
Why it matters: Composable Commerce is a development
approach of selecting best-of-breed commerce components and
composing them into a custom application built for specific
business needs. It gives forward-thinking brands like selfologi a
competitive advantage by providing flexibility to deploy rich
experiences, the ability to react quickly to market needs,
accelerated time to market, all while reducing dependencies on IT.
This represents a big shift from traditional platform approaches to
commerce, which offer a one-size-fits all system.
Who’s it for: Global brands and innovative start-ups
looking for competitive advantage and willing to challenge the
status quo for major ecommerce development.
Tacit Knowledge, a Grid Dynamics Holdings, Inc. (Nasdaq: GDYN)
(“Grid Dynamics”) company, has partnered with healthtech
startup, selfologi, to launch a first of its kind, all-in-one
online platform where cosmetic consumers can access trusted
information about procedures, explore their local markets and book
themselves professional treatments.
According to Google search data, more than one million searches
are made each month on aesthetic medicine treatments in the Middle
East. Meanwhile, selfologi estimates that over $2.2 billion USD
worth of cosmetic treatments are taking place across the region
annually.
“Currently, almost all cosmetic treatments are booked offline,
with consumers not having access to updated, regionally-relevant
information that can aid their decision-making. When it comes to
something as personal as cosmetic treatments and procedures,
selfologi was born with the vision of offering an unparalleled
platform that informs, educates, and helps consumers make the right
choice for themselves, and realise their full potential,” said
Tamer Wali, Founder of selfologi.
Rob Pye, CEO of selfologi added: “At selfologi, we aim to
revolutionise the cosmetic and healthtech industry by providing a
consumer-centric destination for cosmetic treatments and
procedures. With support from the region’s leading experts in
aesthetic technologies, alongside some of the best digital brains
in the business, selfologi is set to be a game-changer and a
pioneer in the multi-billion-dollar cosmetic treatments
industry.”
This innovative selfologi business is built on an equally
innovative Composable Commerce architecture, providing selfologi
the flexibility to deploy best-in-breed technology and bespoke
customer experiences crafted to meet the unique needs of their
business. Tacit Knowledge and selfologi worked with partners
commercetools, Amplience, Algolia to deploy the ecommerce platform,
which plans to be fully transactional in the coming months.
“The composable approach has moved discussions with the business
from ‘platform A only allows this feature in this particular way’
to ‘this is how and when we can deliver this feature’. In
selfologi's case, this approach allowed them to go to market early
with a content rich non-transactional website while the teams
continue working to add commerce capabilities as quickly as
possible. New features will be available online as soon as they are
ready. This is a business-changing, strategic advantage in today's
fast changing market,” said Maneesh Kumar, Director of Technical
Consulting and Delivery at Tacit Knowledge.
On Wednesday October 20, 2021, Grid Dynamics and Tacit Knowledge
are hosting a Webinar: Winning with Composable Commerce: Success
Story. Rob Pye, CEO of selfologi, will share some insights and
lessons learned from his Composable Commerce journey and joining
Rob will be industry experts - Michael Scholz, Global Director,
Head of Product Marketing at commercetools and Maneesh Kumar,
Director of Technical Consulting and Delivery at Tacit Knowledge.
Register to save your spot for this informative webinar.
About Grid Dynamics
Grid Dynamics (Nasdaq: GDYN) is a digital-native technology
services provider that accelerates growth and bolsters competitive
advantage for Fortune 1000 companies. Grid Dynamics provides
digital transformation consulting and implementation services in
omnichannel customer experience, big data analytics, search,
artificial intelligence, cloud migration, and application
modernization. Grid Dynamics achieves high speed-to-market,
quality, and efficiency by using technology accelerators, an agile
delivery culture, and its pool of global engineering talent.
Founded in 2006, Grid Dynamics is headquartered in Silicon Valley
with offices across the US, UK, Netherlands, Mexico, and Central
and Eastern Europe.
To learn more about Grid Dynamics, please visit
www.griddynamics.com.
About Tacit Knowledge
Tacit Knowledge is a global consultancy focused on digital
commerce. Tacit Knowledge has worked at the nexus of commerce and
content since 2002, applying Silicon Valley innovation and know-how
to global retailers and brands. For more information visit
www.tacitknowledge.com.
About selfologi
Based in Dubai, UAE, selfologi is the destination that empowers
consumers to discover, learn about, and book cosmetic treatments.
The healthtech innovators aim to offer consumers an unparalleled
platform that informs, educates, and helps them realise their full
potential. selfologi comprises a global team of experts with
digital knowledge and a deep understanding of the cosmetic
treatments industry.
Forward Looking Statements
This communication contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 that are not
historical facts, and involve risks and uncertainties that could
cause actual results of Grid Dynamics to differ materially from
those expected and projected. These forward-looking statements can
be identified by the use of forward-looking terminology, including
the words “believes,” “estimates,” “anticipates,” “expects,”
“intends,” “plans,” “may,” “will,” “potential,” “projects,”
“predicts,” “continue,” or “should,” or, in each case, their
negative or other variations or comparable terminology. These
forward-looking statements include, without limitation, quotations
and statements regarding the relationship with selfologi and
product qualities and capabilities.
These forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from the expected results. Most of these factors are
outside Grid Dynamics’s control and are difficult to predict.
Factors that may cause such differences include, but are not
limited to, any factors creating issues with the qualities and
capabilities of products and other risks and uncertainties
indicated in Grid Dynamics filings with the SEC.
Grid Dynamics cautions that the foregoing list of factors is not
exclusive. Grid Dynamics cautions readers not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. Grid Dynamics does not undertake or accept any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements to reflect any change
in its expectations or any change in events, conditions or
circumstances on which any such statement is based. Further
information about factors that could materially affect Grid
Dynamics, including its results of operations and financial
condition, is set forth under the “Risk Factors” section of the
Company’s quarterly report on Form 10-Q filed August 5, 2021 and in
other periodic filings Grid Dynamics makes with the SEC.
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