$302M Pours into Social Commerce Ventures

$

Interesting Reuters press release on the VC rush to social commerce – e-commerce with social media – citing 10 recent examples that together have landed $302M in recent investment.

  • BeachMint, which sells apparel, jewelry, shoes and other accessories through Facebook, has raised about $70 million from investors including Accel Partners, Goldman Sachs, New World Ventures and Millennium Technology Value Partners.
  • Buddy Media, which helps brands manage their Facebook presence, raised $54 million in August from GGV Capital, Institutional Venture Partners, Bay Partners and Insight Venture Partners.
  • Fab.com, a seller of designer goods that is built around Facebook and other social networks, has raised more than $50 million from venture capital firms including Andreessen Horowitz, Menlo Ventures and First Round Capital.
  • OpenSky, a shopping website that lets consumers get recommendations from celebrities through social networks including Facebook, raised $30 million in October from Providence Equity Partners, Highland Capital Partners, Canaan Partners and The Raine Group.
  • Oodle, which runs a classifieds marketplace on Facebook with more than 3 million unique monthly users, has raised more than $20 million from venture capital firms including Greylock Partners and Redpoint Ventures.
  • Yardsellr, which links buyers and sellers through Facebook, raised $5 million in late 2010 from Accel Partners and Harrison Metal Capital, which had previously seeded the business with $750,000.
  • Lockerz, a social shopping network, has raised more than $50 million from investors including venture capital giant Kleiner Perkins Caufield & Byers.
  • Payvment, which runs thousands of Facebook stores for small merchants, has raised $8 million from investors including Sierra Ventures and BlueRun Ventures.
  • Wrapp, a social gifting service, has raised more than $10 million from investors including Greylock Partners and Atomico, a venture capital firm run by Skype co-founder Niklas Zennström.
  • Minted, a social commerce startup focused on stationery, invitations and greeting cards, raised $5.5 million in November from Benchmark Capital, IDG Ventures and Menlo Ventures. Marissa Mayer of Google and Jeremy Stoppelman of Yelp also invested.

About the author

Paul Marsden

Chartered psychologist specialising in consumer behaviour and technology. Certified CX professional experienced in Design Thinking. A researcher, writer and speaker, Paul is head of Digital Insight at SYZYGY.

2 comments

By Paul Marsden

Digital Intelligence Today

Consumer psychology insights and news for digital professionals brought to you by WPP agency SYZYGY and Dr Paul Marsden (@marsattacks)

Follow

Subscribe

Enter your Email:
Preview | Powered by FeedBlitz

Paul Marsden

Chartered psychologist specialising in consumer behaviour and technology. Certified CX professional experienced in Design Thinking. A researcher, writer and speaker, Paul is head of Digital Insight at SYZYGY.