You want to build the Next Big Thing. And you have a pretty good idea how it should work, look & feel. Great, now it’s time to find a dev team to build your MVP. But how much should your MVP cost? A freelancer will tell you it should cost $5,000 to $15,000. An experienced CTO will tell you it should cost between $50,000 and $150,000. Which one is right? Are they even talking about the same thing? No, they’re not!
SPOILER: it will cost you $50k to develop a Twitter MVP, $100k for an Instagram, $500k for a Facebook and $1M for an Uber. US dollars when hiring a US dev team.
British-based luxury & fashion marketplace MilanStyle.com experienced a spectacular 45% increase in conversion rate after launching its new mobile-ready and improved platform running on open-source Spree Commerce framework. MilanStyle.com now features over 300 thousand luxury items from top boutiques all over the world and brands like Gucci, Tom Ford, Givenchy, Saint Laurent. That’s ten times more than its old website.
Ecommerce site operating at this scale (10 million registered users) would be so custom and so complex with several intertwining hardware and software solutions that you wouldn’t call it WordPress, Joomla, Django, Magento or anything else anymore.
Basic Spree framework is available for free – it’s open source. But you need to customize it to your specific needs and that can be done by a specialized Spree shop. Or you can work on it yourself – if you can spare the time. Just like with any other open source solution it saves you so much time and let’s you focus on your business-specific development.
Look for ex-CTOs of startups in your space / field skilled in technology stack of your choosing. They have the skill, experience and vision to architect your (product development) strategy which you should factor in into your businessplan. Learn on other peoples mistakes paid for by other peoples money 😉