About Us
A Reform of Commerce
It all started with an iPhone problem
Chris, Co-founder
The idea for Allyos was born on February 22, 2016. The release of the latest iPhone caused the value of the previous model to drop from $250 to $210.
Chris Herczeg, co-founder of Allyos, refused to accept this devaluation. He decided to list his device on Facebook for $250, allowing anyone to contribute $2,5. Once the full amount was collected, one lucky person would get the iPhone, and Chris would receive his desired $250. This way, someone got an iPhone for a fraction of the price, and Chris achieved his target value.
The Arrival of the Innovator
Joe, CEO & Co-founder
Present on that historic day was Joe Bitter, Allyos’ other co-founder and investor. His only comment on Chris’ idea was: “If we can figure out how the remaining 89 participants don’t lose their $2,5, and we build all this into a global platform, then we’ve just revolutionized commerce.”
Joe is the definition of a “self-made millionaire.” He moved to Ireland in 2004, and by the age of 29, built a multinational e-commerce network generating billions in revenue across 57 countries. His success is largely due to his innovative mindset and global connections. In 2011, he discovered blockchain technology, bought into Bitcoin at $12, and later joined the Icelandic crypto mining movement.
Reimagined E-commerce
Allyos csapat
There was no question that the two would team up with renowned Hungarian developers to disrupt the stagnant 30-year-old e-commerce industry and take their startup into the global top 100 tech companies.
After rounds of development and prototyping, the first free public version launched in Google and Apple stores on November 22, 2018. Focused testing began in Hungary, aiming to achieve product-market fit, build out the operational model, and define the brand positioning. Joe and the team often joke that global success must come soon—he invested 35 Bitcoin and 75 Ethereum into the early-stage funding, which could make Allyos the world’s most expensive startup when BTC hits $1 million.
The Allyos Team
A Greater Goal
Gergely Gulyás, Minister of the Prime Minister's Office & Joe Bitter
While pursuing international goals as a social commerce pioneer, Allyos – SocialStore will always be proud of its Hungarian roots. Being a market leader and innovator in the next-gen social commerce space is no small challenge.
Our community-funded, discount-based model can greatly benefit Hungarian SMEs, stimulate wage growth, and enhance competitiveness in domestic trade. To support this, Allyos remains open and cooperative with Hungarian government initiatives and is ready to contribute to national economic goals.
The American Dream, Developed in Hungary
Márton Nagy, Minister for National Economy & Joe Bitter
As a Hungarian-protected software invention, Social Shopping can significantly boost national GDP and contribute to export success. According to Forbes, social commerce is a $90.5 billion market in the U.S. alone today, projected to reach $3 trillion by 2026.
We bring influencers, sellers, and consumers together—offering inflation-resistant solutions. Higher sales prices help cover partners’ climate-related costs, retain and expand jobs, and provide resources for quality development. It’s a powerful tool for enhancing European competitiveness and countering growing pressure from China and the East.
Shared Shopping, Global Success
Joe Bitter, Allyos CEO at E-commerce Roundtable
Three official trademarks protect the technological solution behind Social Shopping. The platform-based expansion and regional franchise-style operating teams enable rapid and efficient market rollout. Within 2–3 years, the platform aims to serve 500 million active users across 72 countries.
This would mean one new iPhone every minute, one car every hour, and one new home purchased daily through the platform. Dream-level products and weekly essentials would all be available through social shopping, while joining the team of our favourite influencers and pooling together the latest premium products they’ve tested or especially love.