Instamojo, a website which allows users to buy and sell their digital goods, has introduced Instamping which it believes will reduce piracy of PDF files.
With Instamping, the buyer’s information is automatically placed in the footer of every page of a PDF at the time of sale. The company believes that this free service will discourages sharing and posting of copyrighted content, as the person who owns the content can be tracked down if it is redistributed illegally.
We believe it is a much better system than DRMs that are conventionally used to protect piracy of digital media. This way, legitimate buyers are not penalised with restrictions the way most DRMs do.
Founded in late
2010 2012, 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 5% fee on each paid transaction in return. The service is currently similar to International ventures like Gumroad and e-junkie. It opened up an API which allows users to buy and sell their digital goods in July this year. It had also released a messaging system to connect buyers and sellers 3 days ago.
Instamojo has raised close to $500,000 in funding 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.
Update: We’d previously mentioned that Instamojo charges a flat 10% fee on each paid transaction, but it had reduced the transaction charges to flat 5% in July 2013. The article has been updated accordingly.