- Popshop Live — a livestreaming shopping app at the intersection of social, e-commerce, and entertainment — announced that it has raised $3 million in funding
Popshop Live — a livestreaming shopping app at the intersection of social, e-commerce, and entertainment — announced that it has raised $3 million in funding. Including this round of funding, the company has raised a total of $4.5 million.
This round of funding will go toward hiring, launching new features, developing live content, and onboarding new sellers in preparation for the company’s upcoming public launch. And the round was led by Floodgate and Abstract Ventures with participation from Long Journey Ventures, Cyan Banister and Scott Banister, Shrug Capital, Backend Capital, and Halogen Ventures.
Launched by Danielle Li, Popshop Live’s mission is to empower and inspire users to expand their identity, experience, and community reach with all the tools needed to plan and execute a live show. And with Popshop Live, sellers can create and host their own shopping channel on the platform and sell products of all kinds from traditional products such as skincare and fitness products to more niche items like vintage clothing, crystals, collectibles, slime and much more, directly to a national audience in real-time. Ranging from independently owned small businesses to large multi-brand retailers and influencers, Popshop Live helps businesses of all sizes grow their revenue and reach.
Due to COVID-19, the current retail landscape has been forced to evolve quickly and create new ways to inspire and connect with shoppers. And unlike existing platforms, Popshop Live curates interactive shows that engage shoppers, creating a true community while generating sales.
Popshop Live is paving the way for a new retail format built to grow in a pandemic and post-pandemic world. And the company is helping sellers stay connected with their communities and continue selling while their brick and mortar locations remain closed or slowly open back up to the public.
Unlike other livestreaming platforms that have lengthy manual setup processes and little to no quantifiable metrics, Popshop Live is easy to use and helps sellers quickly scale their businesses. Sellers on the platform are equipped with a first-of-its-kind playbook to help them grow organically and sustainably and ensure they have tools they need for success. Tools include real-time inventory management, gamified features and engaging show templates, real-time performance stats, detailed metrics reports, real-time analytical insights and support to help navigate the new world of livestreaming retail.
Key Quotes:
“The best brands today provide multi-touch shopping experiences and most have a media component with a tribe-like following. The brands that will stand out in the future will offer their customers experiences beyond products and content, mainly emotional connections and a sense of community. Our vision is to empower the next generation of sellers with the tools needed to provide this to their followers. Shopping will soon be the outcome and physical manifestation of the experience.”
– Danielle Li, founder and CEO of Popshop Live
“Like everyone else, we had to close our store due to COVID-19, and Popshop Live has helped us stay connected with new and longtime customers in ways we didn’t know were possible. What I love most about our Popshop Live shows is that, with the live videos and interactive features, I’m able to respond to customers’ requests in real-time, such as adding any products that the audience sees in the show on the fly. I also love that I’m able to bring the same energy as helping customers in person, but to hundreds of people at once. During my first show, I had intended to go live for an hour but ended up doing a five hour show because of the fantastic feedback from my community. That day, we generated more sales than my existing online and offline channels combined on a typical busy Saturday pre-COVID and we have grown significantly on the platform in just a few months. I’ve seen the power of livestream shopping first hand and expect the future of my business to rely heavily on Popshop Live shows. We’re even thinking about setting up a dedicated space for our Popshop Live show productions.”
– Jamie Rivadeneira, Owner of Japan LA
“Consumers have evolved beyond scroll and click online product feeds and are hungry for more experiential online shopping and Popshop Live is the first product that fully delivers. Danielle and the Popshop Live team have created the best consumer shopping experience at a time when community and virtual connectedness are needed more than ever.”
– Ann Miura-Ko, co-founding partner at Floodgate (a seed-stage venture capital firm that has backed companies like Lyft, Twitch and Twitter)
“Popshop Live is ridiculously fun. I was hooked the first time I tried it as a shopper and couldn’t wait to start my own show. In five shows I generated $5K for charities by selling things from my personal collections. I know this is the future of retail and the team behind Popshop Live is incredible. They genuinely care about businesses and their customers.”
-Cyan Banister, partner at Long Journey Ventures
