Popshop is pretty popular among hipsters as the platform caters to their requests effectively. It is common to witness standard and popular TV services put shopping television shows on the map to attract a sizeable number of users. However, the notion of Livestream commerce received an entirely new dimension in the COVID-19 pandemic.
Retailers and eCommerce shop owners leveraged video entertainment for people to stay away from traditional brick-and-mortar stores. They conducted buying shows online making people shop from them. Recently, a startup and platform named Popshop Live approached the concept of video entertainment with a new passion.
It leveraged the standalone business model that taps into the preferences of millennials. Popshop allows its users to shop from bridge brands and smaller retailers. Popshop announced that it has been able to secure funding to optimize its business operations. With a valuation of $100M, the startup has been able to secure $20M.
Note that the benchmark is led by TUQ Ventures, Access Industries, Mantis VC and AV Angel. The other two members of the benchmark are Abstract Ventures and Pladgate. Popshop has been able to draw a lot of attraction because of the presence of active investors in its funding. The funding is pulling some impressive numbers behind the organization’s direct flow format.
Quite impressively, the sellers at Popshop Live are witnessing an overall product value of $500,000 with more than 80% of users returning to the platform within a month to purchase more items. Popshop is currently not willing to disclose the total number of vendors on its platform. But based on the latest announcements of the company, the total number has increased to 500% in the last two to three months. In other words, Popshop will be able to expand its operations with the help of the funding it received recently