Snapdeal invests USD 100 mln in its mobile-designed marketplace Shopo

Tuesday 8 September 2015 10:39 CET | News

Snapdeal, an Indian e-tailer, is planning to invest USD 100 million into its mobile-designed marketplace Shopo to enhance technology and expand business operations.

Shopo was launched in July, 2015 and has been developed by a 14-member team. It is a mobile-only marketplace that works on on a zero commission model for vendors, reports. It aims to bring small and medium businesses (SMBs) online, and already have 20,000 shops on the platform.

Its agenda is to have one million such shops onboard Shopo by the end of 2016. Its app, which is available for Android and iOS users, allows entrepreneurs and small shops to go online without submitting any documents and avoids long verification procedures.

Shopo has a chat-based model that allows sellers to connect with buyers, and individual sellers can click a photo of their products and list on Shopo. Also, it is looking at offering support fot SMBs with logistics and payment gateways. Shopo is the second Alibaba funded ecommerce firm that is going into a zero commission marketplace model.

In April, 2015, Paytm launched a zero commission mobile marketplace app for small and mid-sized firms. Also, in the same month, Snapdeal acquired m-commerce payments firm FreeCharge for USD 450 million in cash and stock, to compete with Paytm. Freecharge and Paytm earlier had the same business model of facilitating mobile payments for mobile number recharges, bill payments until Paytm expanded into an ecommerce marketplace model.

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Keywords: India, Snapdeal, invetment, mobile platform, marketplace, Shopo, online sales, smartphone, users, customers
Categories: Payments & Commerce | Online Payments
Countries: World
This article is part of category

Payments & Commerce