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Oveit, Inc.


11-50 employees

founded in

May 2017

Oveit, Inc. is a United States, Delaware company that started in the live experiences industry in 2017 operating a solution for cashless payments and live events registration. Leveraging on our expertise in cashless payments in the live experiences industry, we have evolved to a bigger market - live stream shopping - a market which will go from $1 billion in 2019 to $320 billion in 2023, in the US alone. At the same time, by 2023 the live stream shopping market in China will reach almost half a trillion dollars ($474 billion). This accelerated growth is created by the shopping behavior of the younger generations - Gen Z and Millennials and exacerbated by the retail changes caused by COVID-19 pandemic. This retail market disruption caused by live stream shopping can be stated as the teleshopping/telesales of the digital age. This new market combines the power of distribution of the digital channels, interactivity and instant payments. In this market - digital wallets - are used for live commerce sessions in online shopping that generates a 5x increase in conversion rate and loyalty. Products can be purchased both online and in-store environments and are influenced by loyalty points and rewards earned across channels. Combined with the cashless payments and digital wallets technology that we have developed for live experiences and hospitality, we see a future in which people use - digital wallets for experiential shopping - a world in which consumers are identified and rewarded for shopping in both online and offline environments, across retail to entertainment experiences. We call this - shoptainment.

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