With more Internet users purchasing online every year, it’s protected to state that the social e-commerce startup industry thrives. Most of the significant retailers worldwide presently have an online presence, and new online retailers appear to launch each day. Billions of individuals utilize e-commerce and social media, and these stages are developing exponentially every year. When we consider India, it has encountered the successful blend of the two. Social e-commerce startup, e-business fueled by social media, utilizes suggestions, social interaction, customer ratings, and shared pick lists to promote sales.
Social e-commerce startup is defined as utilizing social media to market an online store. E-commerce stores can utilize social media to assemble brand awareness, draw in online followers, and create online sales. Organizations can likewise utilize social media to get their brand, profile, and items shared on the internet.
Future of Social E-Commerce Startup By 2025
The increase in mobile use and low-cost internet has bought a large number of Indian online in the last two years. Most of us spend the most time using our cell phones and scrolling on the social media news feed today. While doing this, we will undoubtedly go over promotions for different products. The pandemic has just additionally prodded our utilization of social media. Because of the hike in time spent inside, we make the maximum number of buys through online stages.
It is assessed that by 2025, India’s social e-commerce startup market will arrive at US$ 220 billion, while social trade can conceivably develop to turn into a US$ 100 billion market. With an extending user base, bringing down overhead costs, and expanding enthusiasm from investors, social e-commerce startup is ready to be the next king in the Indian online shopping industry. Additionally, an expanding number of startups are taking advantage of India’s tremendous disorderly market of providers and producers in tier II, III, and IV cities. According to research, around 120 social e-commerce startups are working in India right now, with the top 3 organizations having 22 million dealers out of absolute 35 million vendors over the nation.
List of Social E-Commerce Startups
The individuals who feel that e-commerce organization in India is currently a high-stake two-horse race among Amazon and Flipkart may have missed another player coming up quickly from the shadows. An ongoing grasp of investment from a portion of India’s wiliest investment firms, such as Sequoia, Accel, Matrix, and Kalaari, has demonstrated that social e-commerce startup, a concept that connects social media platform and e-business, is now changing how individual shop.
If you live in one of India’s five metros, you may not have known about names like GlowRoad, Meesho, Shop101, BulBul, DealShare, and Mall91. However, these are aphorisms for online shopping in India’s more than 50 mid-tier cities and around 5000 towns. Not just have they become well-known social e-commerce startup for shopping the latest garments, gadgets, accessories, and household items, yet besides, a chance to earn money. Let’s have a look at them.
GlowRoad was established by Sonal Verma, Kunal Sinha, Nitesh Pant, Shekhar Sahu, and Nilesh Padariya in 2017. This social e-commerce startup connects resellers directly with raw material providers utilizing online media platforms, such as WhatsApp and Facebook. It additionally encourages trade for individual dealers and small companies with clients. The organization presently guarantees over 100,000 resellers, 20,000 providers, and 300,000 purchasers.
In a Series B funding round drove by China’s CDH Investment, social e-commerce startup GlowRoad has raised $10 million, said a top organization executive. Accel, a current investor in the startup, also shows interest in the round.
The Meesho application was developed in December 2015 by Vidit Aatrey and Sanjeev Barnwal, the two alumni from IIT Delhi. The name Meesho is short for ‘meri shop’ or ‘my shop.’ Bengaluru based social e-commerce startup Meesho intends to establish a platform where anybody can begin their business with zero investment. By 2020, the startup targets to make around 20 million micro-entrepreneurs. More than 2,000,000 resellers on the Meesho and over 20,000 producers from about 500 towns get distribution through Meesho.
E-commerce startup Meesho has raised $125 million, driven by South African media and Naspers, with cooperation from Facebook and existing investors Sequoia Capital, Venture Highway, Shunwei Capital, RPS, and SAIF Partners.
Shop101 was established by Abhinav Jain and Aditya Gupta in 2015 and was officially launched in mid-2016. This social e-commerce startup empowers entrepreneurs to sell online just as on WhatsApp, Facebook, and Instagram with zero investment by providing an online store under two minutes. The organization declares to have 25-30% month-on-month growth throughout the recent years and has enabled over 3 lakh entrepreneurs over India.
Social e-commerce startup Shop101 is raising Rs 28.69 crore (around $3.9 million) in new capital from its existing financial investors as a part of another funding round. The startup had brought Rs 80 crore up in its Series B round of financing in December 2018.
Mall91 is Noida based social e-commerce startup, which won the government’s ongoing Aatmanirbhar Bharat App Innovation Challenge in the Business category. Established in 2018 by Nitin Raj Gupta and Shubham Paramhans, Mall91 tries to satisfy rural India’s online shopping wish. Mall91’s social e-commerce startup consolidates different functions into one stage, including gaming, chat, video, and social shopping facilities. It focuses on the next 400 million customers who speak other vernacular languages across Tier 2,3 and 4 cities in India.
Social e-commerce startup Mall91 stated it had raised $7.5 million in a Series A round, reflecting massive investor enthusiasm in the space. The investment was driven by Go-Ventures, the venture arm of ride-hailing firm GoJek, one of Southeast Asia’s most esteemed startups. Different investors incorporated its current sponsor — funding firms Beenext, Kalaari Capital, and AngelList India.
Started in December 2018 by TrulyMadly fellow benefactor Sachin Bhatia, Gigstart co-founder Atit Jain, and Hawa co-founder Sichen (Sianna) Liu, social e-commerce startup Bulbul focused on assisting users with finding new product through a live and interactive e-commerce stage. It likewise includes influencers who explain the item features and communicate with users to resolve their inquiries, helping them settle on a choice during a live broadcast. It plans to make online shopping engaging and social while offering customers the chance to find new items.
This social e-commerce startup has raised $8.7 Mn in a financing round led by internet company Info Edge. While Info Edge has contributed $6.33 Mn through its IE Venture Fund I, the total sum has been raised from existing investors, including Sequoia and Leo Capital.