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Update: Snapdeal to invest $100 million in Shopo and claims 20k sellers on platform

Snapdeal

Update: It was pointed out to MediaNama that Shopo has about 10,000-50,000 downloads on the Google Play Store (hat tip: Rohit Awasthi). It is unclear whether there are 20,000 sellers on the platform or it is the number of users.

Earlier: Ecommerce player Snapdeal will be investing $100 million in Shopo, its mobile marketplace for small businesses, reports Press Trust of India. Snapdeal CEO Kunal Bahl told the publication that the platform already has 20,000 businesses.

Shopo was launched in July and is a zero commission mobile marketplace targeting small and medium businesses which combines chat and commerce on smartphones. Snapdeal claims that it does not take any fees and allows SMBs to list their products in a single step.

Sellers would be able to chat with their prospective customers and sell them products, taking into consideration the mode of transaction and delivery method. They would also be able to provide information, negotiate a price and arrange for pickup while closing transactions.

Snapdeal said it is fashioning Shopo along the lines of Alibaba Group’s Taobao marketplace which facilitates consumer-to-consumer (C2C) retail by providing a platform for small businesses and individual entrepreneurs to open online stores.

Competition

– Earlier in August, Kartrocket launched an online consumer-to-consumer marketplace for hand crafted products called Kraftly. The app enables any individual, hobby seller or shop owner to create their own branded micro-shop, list products and receive payments. Kraftly manages payments and logistics for each seller and allows the long tail of small and home sellers to go online.

– In the same month, Delhi-based Ecommerce portal ShopClues  launched a new hyperlocal feature called Neighbourhood Market on its mobile app which will allow local merchants to connect with customers. The feature will allow localized sellers to showcase their products to buyers near them across mobile and web platforms.

– Earlier in July, hyperlocal deals marketplace Little raised $50 million from Paytm and existing investors SAIF Partners and Tiger Global Management for establishing an online to offline app-only marketplace.

– JustDial might be considered as competition. The online directory service in January began selling electronics and white goods and started operating as a marketplace. JustDial’s service aggregates neighborhood electronics shops which sell mobile phones, television sets, digital cameras, air conditioners, refrigerators, washing machines, among others.

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    © 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ