DTC POD #255 - Anders Bill & Andy Cloyd, Superfiliate: Custom Storefronts for Creators

1️⃣ One Sentence Summary
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Discussing Super Affiliate's growth, fundraising, and future of social commerce.

Interview Breakdown
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Join us as we delve into an insightful conversation with Anders Bill and Andy Cloyd, founders of Superfiliate, a platform revolutionizing custom storefronts for creators. Providing practical tips based on their rich experiences, they share how to carefully navigate business growth in an increasingly digital era. In this episode we'll discuss: - Path to successful and efficient fundraising for capital-efficient businesses - The importance of using a tailored approach when considering strategic acquisitions - The ramifications and benefits of bootstrapping and VC backing - Prospective methodologies beyond traditional means for crowdfunding and financing - Insights into the nuanced world of social commerce, including balancing cultural sense and technological trends.

🔑 7 Key Themes
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1. Fundraising considerations for start-ups 2. The efficiency of capital usage 3. Differences in international social commerce 4. Influencer marketing and content sourcing 5. Personalized storefronts for consumers 6. Transition from VC to founding companies 7. The future of social commerce

💬 Keywords
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fundraising, capital efficiency, business valuation, strategic acquirers, bootstrap businesses, VC-backed businesses, alternate funding, market conditions, product development, organization expansion, mobile video storefronts, user-friendly design, ecosystem changes, social commerce, live shopping, discovery platforms, influencer marketing, content sourcing, landing pages, exclusive products, venture capital, milestone-based capital raising, DTC brands, personalized storefronts, word-of-mouth marketing, acquisition market, referral programs, creator marketing, Instagram shopping tab, augmented reality

🎞️ Clipfinder: Quotes, Hooks, & Timestamps
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Andy Cloyd 00:05:28 00:05:49

"Empowering Content Creators: We want to enable people to put the content that they're making for a brand on this site and ultimately also drive attribution and rewards for that. We want to bring them into the reward structure of sharing a brand and what it means to drive revenue for these brands and make sure that they're participating in that beyond just making the piece of content or what they're getting paid for by the brand."

Andy Cloyd 00:06:53 00:07:07

"Entrepreneurial Success: 'But he was always the idea guy. And just had come from that background of building companies, starting from scratch, being lean, being scrappy. And ultimately, he came to me and was like, hey, I think we could be great partners on this...And ultimately, that led to a very complementary co founder Dynamic that I think has been super helpful.'"

Andy Cloyd 00:08:38 00:09:08

"Insight from an Investor: For me, it was like, look, in investing, I found something that I love, which is helping founders build their dreams and the products and change markets that they have a unique perspective on. But in seven years of doing that, there was, like, one thing that was always missing, and it was that empathy of being able to look across the table and say, I've been there. I know what that challenge is like, and this is how I handled it. Maybe that's not how you should handle it. But from my personal experience, this is what I would do."

Andy Cloyd 00:10:17 00:10:23

"Embracing Entrepreneurship: Even if everything hits the fan and we fall flat, we'll pick ourselves up and keep going."

Andy Cloyd 00:11:31 00:12:50

"Understanding E-commerce as a Business World: Your world is not like SaaS as a category. Your world is e commerce. But there's still a bunch of categories within that. And I think that's one of the things that Anders and I really have tried to do a good job of building this company is really understanding the context with which we're building the company and getting in the weeds, but also understanding that there are fundamental business building things that need to be done regardless of the category, and being able to make sure that we're on that trajectory that an investor is going to want to see."

Andy Cloyd 00:14:59 00:15:15

"Start-Up Financing Strategy: And we thought about it from the start of saying, hey, let's raise enough to get us off the ground, because we know that in this overall broad affiliate space, even if we're just within the Shopify ecosystem, there's enough market out there for us to build a really nice business. However, let's raise a milestones based fashion where a round is a means to derisking a next milestone or a next phase of the business and raise capital according to our needs at a given moment in time."

Andy Cloyd 00:17:49 00:18:08

"Strategic Fundraising for Startups: 'And I think when it comes to that, it's about keeping that optionality open and making sure that when you raise money, you're giving yourself a path to default alive. And by default, alive, I mean controlling your own destiny and raising enough money to where you feel like you can get the business to a point where you're not reliant on capital.'"

Andy Cloyd 00:18:53 00:19:09

"Efficient Capital Use in Business: It's making sure that you're getting the most out of that next dollar, making a hire that, you know, has a seat to sit in and a job to be done, and not hiring because you have the amount of money in the bank to do it, but being really thoughtful about that."

Andy Cloyd 00:34:47 00:34:57

"Challenges in Ecommerce Traffic Optimization: However, now that traffic is hitting me from ten different places or 100 different places, and it's like, how can I now optimize a commerce experience for all of those sources?"

Andy Cloyd 00:46:55 00:47:10

"Milestone-Based Fundraising Strategy: We raised that initial slug of capital to get a product in market, get feedback, and get us to a point of figuring out, hey, where do we think this is going to go? We've been able to drive that to close, to break even now. And now we're thinking about what's 2023 look like?"

📚 Timestamped overview
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03:40 Engage with merchants, build landing page.

04:13 Landing page builder in our app. Personalized storefronts.

08:36 Founding, investing, empathy - shared experience matters.

11:31 Anders focused on e-commerce, consolidating categories.

14:42 Founders raise money to derisk business.

18:47 Capital efficiency, thoughtful hiring, and investor expectations.

21:54 Pros and cons of venture funding; consider alternatives.

26:34 Word of mouth strategies differ between brands. Explanation: The author discusses the importance of understanding the target audience's psychological motivators in word of mouth strategies. They mention that influencer marketing has changed from being purely brand marketing to a focus on performance. This shift has led brands to consider the incentives and motivations of influencers and creators when designing marketing campaigns.

30:39 Interested in your review; integrations and scalability vital for landing pages; feedback loop between customers and creators.

31:40 Ecommerce evolves, traffic comes through creators.

38:12 Cultural barriers hinder success of social commerce.

41:55 Merchants rely on agencies or in-house teams.

45:02 Merchant builds basic landing page with content.

46:48 Fundraising achieved, now aiming to grow and scale.

50:00 Excited to see your continued growth!

❇️ Key topics and bullets
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1. Raising Capital and Fundraising - The impact of competitors raising funds - The importance of thoughtful fundraising - Risks of raising too much capital - The concept of capital efficiency - Considerations when choosing investors - Pros and cons of bootstrap and VC-backed businesses 2. Super Affiliate Company Goals - Expanding the organization - Implementing marketing strategies - Forming partnerships - Aiming to be known for mobile video first storefronts 3. Changes in the E-Commerce Ecosystem - Influences of TikTok and Instagram - Differences in social commerce between China and the United States - Insights on the success of TikTok - Issues with replicating China's success in the US due to cultural barriers 4. Super Affiliate's Business Model - Description of their ideal customer - Importance of long-term influencer partnerships - Responsibilities of merchants creating landing pages - Exclusivity and quality content as keys to success 5. Andy Cloyd's Career Transition - Experience in venture capital - Start of Super Affiliate and continuing VC work at Revolution's rise of the rest fund - Taking a milestone-based approach to raising capital 6. Founding and Running Super Affiliate - Anders Bill's and Andy Cloyd's backgrounds - The start of their professional relationship - Overviews of Super Affiliate's services - Benefits of their partnership 7. Views on the Future of Social Commerce - Evaluating potential acquirers - Concepts of word-of-mouth marketing strategies - Potential of referral, loyalty, and influencer programs - Importance of integrations - The role of commerce evolution - Fusion of commerce and entertainment experiences - Future implications of Instagram's commerce strategy - Predictions on augmented reality

🎬 Reel script
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"From discussing the balance of thoughtful fundraising for growth and capital efficiency with Anders Bill and Andy Cloyd, to exploring the cultural barriers in replicating the wild success of social commerce in China, today's episode was a venture packed with insight. We dived deep into the pros and cons of bootstrap versus VC-backed businesses, and how influencers can be considered long-term collaboriators instead of mere promotional tools. Pioneers in their field, our guests brought on the table compelling discussions about innovating the mobile video storefronts market and how social commerce players like TikTok and Instagram continue to have a seismic influence on the ecommerce landscape. Stay tuned to DTC POD as we keep an eager eye on Super Affiliate's exciting journey ahead!"

✏️ Custom Newsletter
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Subject Line: New Episode Alert: Demystifying Custom Storefronts for Creators on DTC POD Hey there! Hope this email finds you well on this beautiful day! We are back with yet another fascinating episode on DTC POD! This time, we had a chance to sit down with Anders Bill & Andy Cloyd, the dynamic duo behind Super Affiliate, who gave us a masterclass on custom storefronts for creators and their nuanced approach to fundraising. Episode #255 - "Anders Bill & Andy Cloyd, Super Affiliate: Custom Storefronts for Creators" dives deep into the nitty-gritty of e-commerce, social commerce, and the power of capital efficiency. Not to mention, we get a glimpse behind the scenes of their entrepreneurial journey. Here's a sneak peek at the five key insights you'll walk away with: 1. How capital efficiency and strategic fundraising can influence the longevity of a company. 2. The power of personalized storefronts in enhancing brand-customer relationships. 3. The impact of social media platforms like TikTok and Instagram on commerce. 4. An understanding of the contrasting ecosystems of social commerce in the U.S. and China. 5. Tips and tricks for successful influencer and creator collaborations. Here's a buzz-worthy fun fact from the episode: Andy Cloyd ended up partnering with Anders Bill to start Super Affiliate after they moved into a house together with some strangers. Talk about serendipity! As we wrap up this episode, remember: the world of e-commerce is constantly evolving. It’s up to creators like you to ride the tide, adapt, and create lasting rapport with customers through personalized and engaging experiences. So, head over to our website or wherever you get your podcasts to listen to the full episode. You're not going to want to miss this one! Trust us, it's packed with tons of learning and fun-filled conversations. Lastly, don't forget to connect with us on social media to continue these discussions. We value your insights, suggestions, and questions! Until next time, keep amplifying your brand! Best, Blaine Bolus & Ramon Berrios Your Hosts at DTC POD

🐦 Business Lesson Tweet Thread
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1/ Think you've got a ground-breaking idea? You better have a solid plan for fundraising too. It's not just about raking in as much investor cash as possible. There's more to it. A thread. 👇 2/ Capital-efficient businesses are the sweet spot. Spend wisely, squeeze every penny to its full potential. 3/ Raising too much capital? That's a thing. Aim for what you NEED to control your destiny and reach your milestones. 4/ In life, timing is everything. So it is with fundraising. Market conditions & timing can make or break your efforts. 5/ The bootstrap vs VC-funded debate? There's no one-size-fits-all. What works best for your business at a certain time matters. 6/ The traditional way isn't the only way. Cash advances, alternate funding - explore your options. Balancing perspectives is key. 7/ Here's something interesting - go talk to your potential acquirers when raising funds. You'll thank us later. 8/ Planning to expand? Hire experts. Raise money to scale growth. The world deserves to know about your mobile-first storefronts. 9/ Cultures & infrastructures differ. Social commerce in China & the States? Apples & oranges. Adapt, revise, succeed. 10/ Influencer partnerships = long-haul flights. Aim for long-term collaborations, not stopgap promotions. 11/ Join Andy & Anders' journey, two veterans charting new terrains. Venture capital background, software expertise, co-living serendipity. 12/ Super Affiliate is proof that sometimes all a brand needs are user-friendly landing pages, personalized storefronts, able creators, & a share-worthy product. 13/ The verdict? Understand your market. Take a balanced approach to fundraising. Invest in long-term collaborations. Keep an eye on global trends. Let your business flourish. The world is waiting to see what you've got to offer. 💡 I rest my thread.

🎓 Lessons Learned
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1. "Raising Capital: Timing Matters" - Thoughtful fundraising leads to more capital efficient ventures, the timing of which should align with the business's growth roadmap. 2. "Capital Efficiency Conundrum" - It's essential to keep the business capital efficient; making the most of every dollar ensures longevity. 3. "Strategic Acquirers During Fundraising" - Engage potential strategic acquirers when raising funds to create opportunities for partnerships and potential exits. 4. "Bootstrap vs VC-backed Businesses" - Comparison of the pros and cons between bootstrap and venture capital-backed businesses, each with distinct challenges and opportunities. 5. "Rise to Break-even" - Charting a company's journey to the break-even point provides insight into business decisions and stages of development. 6. "Custom Storefronts Revolution" - Understanding the needs of marketers and brands to create user-friendly design experiences and effective marketing strategies. 7. "Social Commerce Challenge" - Exploring cultural barriers in social commerce, comparing the explosion of live shopping in China to the slower growth in the US. 8. "Influencer Long-term Partnerships" - Discussing how influencing marketing can drive growth when viewed as a long-term collaboration rather than one-time promotion. 9. "VC to Founder Transition" - Andy Cloyd's personal experience of moving from venture capital to a founder role, revealing lessons learned and challenges faced. 10. "Balancing Commerce and Entertainment" - The challenge of blending commerce and entertainment experiences in the emerging field of social commerce is examined.

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1. Don't just fall into the capital-raising chase. Stay focused on what truly helps your business grow and achieve its milestones. 2. Capital efficiency is key: squeeze the most out of each dollar, every dollar matters. 3. Investor expectations vary by stage and funding. Understand these differences to manage investor relationships effectively. 4. The greatest detour may be your best path forward. Consider alternate ways for fundraising such as cash advances or crowdfunding. 5. Have a diverse range of perspectives on fundraising. It allows for a more balanced and adaptable approach. 6. Timing isn’t everything, but it still matters a lot. Fundraising decisions should also be influenced by market conditions. 7. Focus on creating a user-friendly experience for your customers and be attentive to changes in the business ecosystem. 8. Communication is vital. Explore different communication channels to connect with your audience and stakeholders. 9. Don't underestimate the power of culture. Businesses need to understand cultural elements when trying to replicate successful practices from one country to another. 10. When working with influencers, think long-term collaborations, not one-off promotions. 11. Create memorable experiences for your customers. It's the key to success in social commerce. 12. Don't just focus on what your business can gain from investors. Understand what they expect in return and whether it aligns with your company's vision. 13. When starting a business, focus on providing a solution to a problem. It often acts as the best foundation for a successful venture. 14. Let your customers contribute to your company's growth by incorporating a rewards system. 15. Embrace the element of surprise. Exclusive offerings and high-quality content can delight customers and increase their loyalty. 16. Build your business with an eye on exit potential and potential buyers. Don't just focus on now, plan for the future. 17. Influencer and creator marketing should be viewed from a performance basis, not just brand marketing. It’s about collaboration. 18. Understand your audience. Knowing what suits different communities is instrumental for a successful word-of-mouth strategy. 19. The future of commerce is likely to be driven by micro-commerce experiences, personalized to each creator's traffic source. 20. The ability to blend commerce and entertainment is the future of social commerce. 21. Be prepared for shifts in technology and business landscapes. They will inevitably impact your business strategies.

🌟 3 Fun Facts
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1. Andy Cloyd and Anders Bill decided to co-found Super Affiliate after living together in a house with other people, proving that great business partnerships can be sparked in the most informal environments. 2. Andy Cloyd made a significant career change from venture capital to becoming a founder. His years in venture capital allowed him to bring a unique perspective to his entrepreneurial journey. 3. Anders Bill is highly optimistic about a shift to augmented reality in the next three to five years and sees it as a game changer in the world of social commerce.

📓 Blog Post
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Title: Navigating the New Age of Commerce: Custom Storefronts, Influencer Marketing, and More Subheader: Succeeding in Social Commerce: Insights from Super Affiliate’s Co-Founders SECTION 1: Understanding the Evolution of Social Commerce In episode #255 of DTC POD, Blaine Bolus and Ramon Berrios took a deep dive into the rapidly evolving world of social commerce with Anders Bill and Andy Cloyd, the co-founders of Super Affiliate. This innovative platform automates the creation of personalized storefronts for customers and creators, equipping them with the tools to promote and share products effectively. SECTION 2: Maximizing Entrepreneurial Success Andy Cloyd, who left a successful career in venture capital to pave his own entrepreneurial journey, emphasized the importance of understanding market context and building a VC-scale business that can generate substantial capital. He advised entrepreneurs to use milestones as guideposts, making the most of every dollar and taking fundraising decisions based on the inseparable tandem of timing and market conditions. SECTION 3: Building and Influencing Brands The duo also suggested for brands to shift away from simply viewing influencer marketing as promotional tools. Instead, they encourage brands to embrace partnerships with influencers as long-term collaborations. By creating and investing in surprise and delight experiences with exclusive products and high-quality content, brands can see significant success in the realm of social commerce. SECTION 4: Reimagining Commerce with Influencer-Driven Experiences Anders Bill envisions a new trajectory for commerce evolution— one where different ways for consumers to make purchase decisions exist. He acknowledged a future where commerce formats are driven by creators and influencers. His vision is supported by his belief that brands that effectively create a feedback loop that connects customers, creators, content, and their front-end experiences will be prosperous in the coming years. SECTION 5: Navigating Social Media Platforms Given Instagram’s recent decision to de-prioritize its shopping tab, our guests discussed the importance of aligning the commerce experience to multiple sources of traffic, including creators who endorse products. Over and above, brands need to optimize for multiple traffic sources, creating a direct link between the influencer-driven commerce format and the brand's website. SECTION 6: Gearing Up for Augmented Reality Anders Bill's perspective also included foresight about the future of social commerce. He expressed a promising outlook on a forthcoming shift to augmented reality in the next three to five years and highlighted the potential changes this shift may bring. As social commerce experiences continue to evolve and adapt, businesses must similarly position themselves to capitalize on these ever-emerging opportunities. Engaging podcast episode #255 of DTC POD definitely shed light on a variety of important strategies in e-commerce, influencer marketing, social commerce, and the imminent transformation in the world of commerce altogether. Drawing from the valuable insights and experiences of Anders Bill and Andy Cloyd, businesses now have a widened perspective to keep pace in the constantly changing landscape of social commerce. The future will be mighty interesting for e-commerce – a future driven by a blend of creative entrepreneurs, innovative technologies, and consumers who continuously redefine the market with their ever-evolving preferences. The game isn't about mere survival anymore. It's about evolving faster, and being smarter, than ever before.

🎤 Voiceover Script
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"In this intriguing episode, we dove into the challenges and nuances of fundraising in various business stages, explored alternative funding options, and learned about Super Affiliate's innovative approach to personalized storefronts. We also discussed social commerce across the globe and explored the exciting evolution of commerce through creators and brands. Lastly, our guests shared their vast experience and key lessons from transitioning from past ventures to creating this impactful platform."

🔘 Best Practices Guide
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When building a business, consider capital efficiency - make the most with every dollar and avoid raising too much, too soon to prevent a potential acquisition or fold. Engage potential strategic acquirers in fundraising conversations and be aware of investor expectations at different funding stages. Bootstraps and VC-backing have unique benefits, base your choice on what's best for the business. Explore alternative fundraising options like cash advances. In fundraising, gather diverse perspectives for a balanced approach, and consider timing and market conditions. When focusing on social commerce, aim for long-term collaborations with influencers instead of short-term promotions. Ensure your product encourages sharing and has high-quality content. For companies like Super Affiliate, automate and personalize wherever possible, and support the sharing and promotion of products. Encourage word-of-mouth marketing and consider the exit potential of your company.

🎆 Social Carousel: Do's/Don'ts
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Slide 1: "10 Crucial Tips Every Venture Capitalist Needs To Know" Slide 2: "Raising Funds" Don't: Raise excessive early capital at high valuations. Do: Thoughtfully raise enough funds to control your destiny and reach the next milestone. Slide 3: "Investor Expectations" Don't: Ignore investor expectations. Do: Understand different expectations based on funding stages can greatly impact outcomes. Slide 4: "Bootstrap vs VC" Don't: Stick rigidly to one business model. Do: Recognize both bootstrapped and VC-backed businesses have pros and cons – pick what suits best. Slide 5: "Fundraising Alternatives" Don't: Limit your company to traditional fundraising only. Do: Explore alternatives like cash advances or alternate funding for flexibility. Slide 6: "Timing is Key" Don't: Disregard the importance of timing and market conditions. Do: Keep these crucial factors in mind when making fundraising decisions. Slide 7: "Influencer Relationships" Don't: View influencer partnerships as just one-off promotions. Do: Build long-term collaborations, which are often more beneficial. Slide 8: "Customer Engagement" Don't: Forget about your loyal customers. Do: Drive engagement through referral, loyalty, and affiliate programs. Slide 9: "Social Commerce" Don't: Ignore the growing need for personalized micro-commerce experiences. Do: Tie these experiences to each creators' traffic source. Slide 10: "Content and Commerce" Don't: Keep commerce and entertainment experiences separate. Do: Blend these experiences to optimize the commerce journey for your consumers.

🎠 Social Carousel
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Slide 1: Title - "10 Funding Strategies Every Founder Needs to Know" Slide 2: Title - "Capital Efficiency" Explanation - Maximize the value of every dollar spent. Slide 3: Title - "Fundraising Timing" Explanation - Market conditions and business stage influence when to raise capital. Slide 4: Title - "Balanced Perspectives" Explanation - Mix expertise for a well-rounded approach to fundraising. Slide 5: Title - "Funding Alternatives" Explanation - Explore non-traditional fundraising methods, such as cash advances. Slide 6: Title -"Exit Potential" Explanation - Identify potential acquirers and assess exit opportunities early. Slide 7: Title - "Seizing Opportunities" Explanation - Leverage your professional network when starting a business. Slide 8: Title - "Drive Attribution" Explanation - Reward creators for content contributions. Slide 9: Title - "Performance-based Marketing" Explanation - Engage influencers for performance-driven marketing, not just brand exposure. Slide 10: Title - "Feedback Loops" Explanation - Establish loops between customers, creators, and front-end experiences for success. Last Slide CTA: “Stay Tuned for More Insights on DTC POD”

One Off Tweets
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1. As creators, sometimes we need to turn the tables. Don't beat yourself up raising too much capital at high valuations – thoughtful fundraising leads to capital-efficient businesses. Remember, it's all about the journey. 2. Capital efficiency isn't about stinginess or fear. It's about creating more with less. Turn every dollar into an empire. 3. All investor expectations are not created equal. Remember, what was once a blessing can quickly become a burden. 4. Place your business first. There's no one-size-fits-all approach; the focus should be on what suits your business at that particular time. 5. Break the norm with your fundraising approach. Consider alternatives to traditional fundraising like cash advances – unusual strategies often lead to extraordinary results. 6. Timing is everything in fundraising. You are the sailor, market conditions are the sea – know when to set sail and when to stay anchored. 7. We often look far and wide for inspiration when it's right next door. China's approach to social commerce has lessons we can learn from despite the barriers. 8. No success story is built overnight. Embrace long-term collaborations with influencers, not just promotions. 9. Stand tall amidst change. The next wave could be your wave. Stay ahead and embrace upcoming e-commerce trends. 10. Augmented reality can be a game-changer for social commerce. Don't wait for the shift, be the shift. Revolutionize the way the world shops!

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