Hi Friends Welcome to MasterjiTips. The boom of social commerce startups in India was nearly inevitable. Given the united states of America’s vast social media user base and its vast appetite for eCommerce, something that blends the to became continually going to be a success. But, now not until final year changed into the thrill round social commerce so loud and all-encompassing.
In 2019, it turned into the quickest-developing phase of India’s online retail enterprise and witnessed snowballing investor hobby.
Homegrown social commerce startups on-boarded over 10 million revellers, and raised hundred million in investment inside the beyond 365 days, consistent with industry estimates.
An aggregate of things has brought about the meteoric upward push of social commerce in India:
a) Increasing phone penetration and declining cellular internet expenses have opened up a marketplace of 400 million users in India’s Tier II and III cities and beyond
b) Proliferation and advancement in payment gateways and e-wallets led utilizing UPI
c) Unhindered increase in social media utilization and the upward push of brief-shape video structures consisting of TikTok, Instagram, and Snapchat, particularly among millennial
d) Availability of vernacular networks like ShareChat, Roposo, and others
Lists of several pinnacle startups within the area.
It won’t be an exaggeration to state that Meesho is to social trade what Flipkart became to eCommerce in overdue-2000s India. One of the earliest startups inside the region, Meesho become based through IIT alumni Vidit Aatrey and Sanjeev Barnwal in 2015.
It has created an alternative distribution channel for homemakers, small marketers, teachers, and college students to sell items on through WhatsApp, Facebook, Instagram, and other social media structures.
Bengaluru-primarily based Meesho is likewise one of the maximum-funded startups within the sector. It counts massive names like Facebook, Sequoia Capital, Shunwei Capital, SAIF Partners, Y Combinator, and others among its buyers.
In August 2019, Meesho raised million in a Series D round from Newspapers. Before that, it had raised $25 million from Facebook, in what changed into the business enterprise’s first-ever investment in an Indian startup.
Founded in 2018 through Vineet Rao and Sourjyendu Medda, DealShare is one of the quickest-developing social trade startups in India. The multi-class social shopping for the platform modelled on China’s freshest social trade startup, Pinduoduo.
The startup, which started in Jaipur after which moved to Bengaluru, claims to be servicing greater than 15,000 orders each day and is growing at 50 per cent month on month. Its app has recorded four hundred,000 installs, and is available in several neighbourhood languages.
In October 2019, DealShare raised $11 million from Matrix Partners and Falcon Edge Capital, with participation from Midyear Network, and DST Global. It plans to utilize the capital in expanding to one hundred more cities and improve its logistics network.
Delhi-based BulBul turned into based by using Sachin Bhatia (who had additionally co-founded MakeMyTrip and TrulyMadly) and Atit Jain in 2018.
It is India’s first multi-language stay-video eCommerce platform that seeks to redefine the manner products offered and bought online.
The startup claims to have processed over four lakh transactions and recorded a GMV of Rs 15 crore. Its short-shape dealer films regarded over 15 million instances.
In October 2019, BulBul raised $14.7 million from Sequoia Capital. Before that, it turned into additionally a part of Surge, Sequoia’s early-degree accelerator programme in India. The startup additionally counts Leo Capital and CDH Investments among its early investors.
GlowRoad became founded in June 2017 through Sonal Verma, Kunal Sinha, Nitesh Pant, Shekhar Sahu, and Nilesh Padariya for live-at-home mothers and micro marketers to promote merchandise in their local networks and earn online.
Resellers, who reach clients via WhatsApp and Facebook, get right of entry to hundreds of thousands of merchandise along with side shipping centres and payments.
In April 2019, GlowRoad raised $10 million in a Series B round from CDH Investments, a Chinese funding company. The round also noticed participation from early backer Accel Partners, which had installed $2 million in a Series A round in 2017.
In May, the startup also raised $eleven.5 million in a Series B+ round from Korea Investment Partners and Singapore-based Vertex Ventures. It plans to utilize the capital in increasing its seller network and crossing one hundred,000 transactions according to today.
Founded in 2018 by way of Nitin Raj Gupta and Shubham Paramhans Mall91 blends stay video-primarily based social purchasing in vernacular language catalogues that may be browsed with the help of voice instructions, and WhatsApp primarily based checkouts on a single platform.
In October 2019, Mall91 raised $7.Five million in a Series A round led employing Go-Ventures (the investment arm of Indonesia’s Gojek). The round also noticed participation from its early backers Beenext, Kalaari Capital and Angel List India.
Mall91 plans to use the budget to make more significant its business across higher regions, every home and worldwide, ramp up its deliver chain and product, and also add more exceptional nearby language abilities.
Simsim is much less than a year old, however, is already making waves in the social commerce zone. Founded by using Amit Bagaria, Kunal Suri, and Saurabh Vashishtha in July 2019, it has already notched up more significant than one million customers on its platform.
The Gurugram-primarily based startup claims to be running with 1,200+ Community Opinion Leaders (or social influences) to create content around products and sell them to consumers. Nearly three-fourths of Simsim’s users come from India’s Tier II and III towns.
Within 12 months of its release, the startup has pocketed $16 million in 3 funding rounds from Accel Partners, Shunwei Capital, and Good Capital. Simsim plans to utilize the capital in including more languages to its app and signing up 10 million customers through the end of this year.
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