Handshake Processed Over $100 Million In Orders Last Year
Handshake is a company that was created by Glen Coates. Coates launched Handshake, an iPad app known for making purchase orders (POs) easier for retailers. He built the app completely bootstrapped without any funding.
Handshake launched in the app store in November 2010 and remained free in beta for 8 months. In July 2011, Coates added a subscription layer and customers are now paying $24.95 per month for his software.
The app has now handled over $100 million in orders. Some of his clients include Bugaboo and Goldwell. He does not take a cut from the orders.
“If you want to buy a pair of shoes, you go to Zappos and place an order with some expectation that you’ll have a modern experience,” said Coates in an interview with BI. “Once you step one level back in the supply chain, it’s outdated and looks like it’s from the ’80s.”