Snapdeal to invest $100 million in Shopo
- 9 years ago
E-commerce major Snapdeal will invest $100 million in Shopo as it looks to build up the recently launched venture into a one million seller-strong platform.
Launched in July, Shopo is a mobile-only platform, which aims to bring small and medium businesses that cannot register on bigger e-commerce portals.
The product, developed by a 14-member team, allowed entrepreneurs to list their products without submitting any documents and avoid long verification procedures.
Shopo, which has a chat-based model to allow sellers to connect with buyers, is also looking at offering SMBs help with logistics and payment gateways.
Part of the Alibaba Group, which is also an investor in Snapdeal, Taobao's marketplace facilitates consumer- to-consumer retail by providing a platform for small businesses and individual entrepreneurs to open online stores.
Launched in July, Shopo is a mobile-only platform, which aims to bring small and medium businesses that cannot register on bigger e-commerce portals.
The product, developed by a 14-member team, allowed entrepreneurs to list their products without submitting any documents and avoid long verification procedures.
Shopo, which has a chat-based model to allow sellers to connect with buyers, is also looking at offering SMBs help with logistics and payment gateways.
Part of the Alibaba Group, which is also an investor in Snapdeal, Taobao's marketplace facilitates consumer- to-consumer retail by providing a platform for small businesses and individual entrepreneurs to open online stores.