Instamojo, a website which allows users to buy and sell their digital goods, has introduced Instamojo API. The new APIs will allow developers to create new offers, edit existing offers, query their offers, and archive offers. This could be beneficial for merchants such as photographers, artists, etc who want to upload/edit multiple offers.
The company states that the APIs are based on REST principles allowing one to test applications using standard conventions. To get access to the API, developers have to send an email to email@example.com asking for a their App-id. The company has also released an example implementation of the client in Python programming language.
Just last week Instamojo had increased the frequency of payout from once a month to twice a month. Earlier, the company only sent out payments to merchants on 26th/27th of every month. Starting this month, it will send out payments on every second and fourth Friday of the month. It has also introduced custom redirection, integration with Google Analytics, and custom note in last couple of weeks.
In February 2013, we had reported that Blume Ventures, 500 Startups, Google India MD Rajan Anandan and Indian Angel Network’s Sunil Kalra had committed a funding of $250,000. Speaking with Medianama, Instamojo Co-founder Sampad Swain informed us that Instamojo has raised close to $500,000 in funding overall from Rajan Anandan, Sunil Kalra, 500 Startups, Blume Ventures, Dave McClure, Rob de Heus, Thijs Gitmans, Pankaj Jain, Shailesh Rao, Bharathram Thothadri, and Avlesh Singh. Instamojo had previously raised funding from angel investors Rajan Anandan and Sunil Kalra in July 2012 and from DaveMcClure’s 500 Startups in October 2012. The company was also incubated into 500 Startups’ Fall 2012 batch of its accelerator program.
Founded in late 2010, Instamojo allows users to sell a digital file for a specific price and claims to offer a 1-click checkout system for buyers & sellers by managing the hosting, security, payment processing and delivery of the digital goods and charging a flat 10% fee on each paid transaction in return. The service is currently similar to International ventures like Gumroad and e-junkie. It is also currently experimenting with donations on the site.