Mobile app marketplace Shopo has recorded 1 million product listings. Shopo, which was launched in July by online marketplace Snapdeal has made the cut in the short period of three months. There have been close to 2,00,000 app downloads as well. The Snapdeal backed mobile marketplace is a boon for sellers. It has no registration charges, a direct chat interface, and a smooth product listing that has endeared it to small businesses.
Made for the small entrepreneurs
Shopo is built to encourage small and micro businesses and home entrepreneurs to come online and get started.
According to Kunal Bahl, CEO and co-founder, Snapdeal, “Our vision is to create life changing experiences for 1 million small businesses by 2017. Shopo is a key pillar of the digital commerce ecosystem that we are building to achieve this vision. The platform enables sellers to set up their online shop at zero cost and access markets like never before. The rapid adoption by micro and small sellers in a short span of three months is a great validation of the Shopo model.”
Snapdeal raises capital for FreeCharge
In the meanwhile, Snapdeal is reported to be raising funds for FreeCharge, the mobile recharge company. The online marketplace had purchased FreeCharge in April this year, for a sum of nearly $ 450 million. Snapdeal is looking to raise $ 300 million to strengthen the mobile recharge facility and to push Snapdeal in different direction.
FreeCharge will have to contend with rival PayTM, which recently got a capital influx of $ 680 million, courtesy Alibaba. Snapdeal and FreeCharge have things going well, with a combined GMV of $ 4 billion, and 8.2 million (combined) unique visitors on a daily basis. Kunal Bahl is said to have ambitiously stated that the company will overtake Flipkart by March 2016.
All is well for online sellers with money pouring in to marketplaces. With opportunities knocking on the door, online sellers, particularly the small entrepreneurs should look closely at marketplaces that offer simplified facilities.
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