0Startup Companies in E-commerce
With a plethora of internet users, it is safe to say that the social startup industry is thriving. The majority of the world's major retailers now have an online presence, and new online retailers emerge every day. E-commerce and social media platforms are used by billions of people every year, and these stages are growing at an unprecedented rate.
The term "social e-commerce startup" refers to the use of social media to promote an online shop. E-commerce businesses use social media platforms to increase brand awareness and generate more leads. These platforms are also used for promoting products and startups.
Future of E-commerce
Low-cost internet packages and affordable devices have generated huge traffic on the internet. Today, most of us spend the majority of our time on our phones and scrolling through our social media feeds. We come through various promotion posts while scrolling, and the pandemic has only served to increase our reliance on social media. According to an estimate, people have started trusting and accepting E-commerce platforms in the country.
According to estimates, India's social e-commerce startup market would be worth US$ 220 billion by 2025, and social trade could grow to be worth US$ 100 billion. With a growing user base, lower overhead costs, and increased investor interest, a social e-commerce startup is poised to become the next king of the Indian online shopping industry. In addition, an increasing number of startups are capitalizing on India's hugely unorganized market of providers and producers in tier II, III, and IV cities. According to a study, about 120 social e-commerce startups are operating in India right now, with the top three companies employing 22 million people.
Startups in Social E-Commerce
Many who believe that India's e-commerce industry is currently a high-stakes two-horse race between Amazon and Flipkart may have overlooked other players emerging from the shadows. A steady stream of funding from some of India's most savvy investment firms like Sequoia, Accel, Matrix, and Kalaari, has depicted that social e-commerce startups, a term that links social media platforms and e-commerce, are now changing how people shop.
You may not be aware of names like GlowRoad, Meesho, Shop101, BulBul, and Mall91 if you live in one of India's five metros. These are, however, aphorisms for online shopping in India's over 50 mid-tier cities and 5000 towns. They've become a well-known social e-commerce startup for shopping for new clothes, appliances, accessories, and household goods and earning money. Let's take a look at some of them.
1. GlowRoad
The startup was co-founded by Sonal Verma, Kunal Sinha, Nitesh Pant, Shekhar Sahu, and Nilesh Padariya. They Kickstarted this venture in 2017. This social e-commerce startup uses online networking outlets like WhatsApp and Facebook to connect resellers with raw material providers. It also promotes exchange for individual dealers and small businesses with customers.
Mission & Vision
The company aims to provide an all-in-all platform for resellers. They aim to improvise the processing of reselling for users and help them earn some money. The vision of the company is to become the largest platform for reselling.
The startup is supported by many international investors like Accel, CDH investments, KP partners, RB investments, and Vertex Ventures. The company has gained recognition by featuring in leading media houses. It has featured in many publications like live mint, INC42, VC Circle, YourStory, Tech Circle, The Economic Times, TechCrunch, and Entrepreneur India.
The company has gained the trust of users by delivering qualitative services. It offers its services for more than 2000 cities and has more than 18,000,000 buyers. The company ensures complete security and transparency in its process. It has acquired more than 20,000 suppliers.
The platform is highly rated by its customers. It is active on all social media platforms and provides useful information on its website using blogs. The entire process of reselling on the platform is simple and secure.
Services
The company offers a platform to start your social selling with zero investment. Social selling is done through various platforms like Facebook, Instagram, Whatsapp, and other social media platforms. The users are allowed to set margins on their product and earn accordingly.
Users are notified of every order, and the platform provides refund and cancellation policies for every user. The platform is also useful for different suppliers, and the users are allowed to share products, collections, and shops.
2. Meesho
Vidit Autrey and Sanjeev Barnwal, both IIT Delhi alumni, created the Meesho application in December 2015. Meesho is a Japanese word that means "my store" or "meri shop." Meesho, a Bengaluru-based social e-commerce startup, aims to create a platform where everyone can start a company with no money down.
Mission & Vision
The startup hopes to create about 20 million micro-entrepreneurs by 2020. On the Meesho, there are over 2,000,000 resellers and over 20,000 producers from over 500 towns who receive the distribution.
Meesho, a South African e-commerce startup, has raised $125 million with the support of Facebook and current investors Sequoia Capital, Venture Highway, Shunwei Capital, RPS, and SAIF Partners. It has gained countrywide recognition by featuring in publications like live mint and INC42.
The company claims to be India's best reselling platform. It is trusted by thousands of customers, and the platform has more than one crore retailers. The platform has covered more than 5000 towns and will gradually expand its services.
Services
The company claims to offer a comprehensive platform for reselling its products. It offers sellers from all over the country to start their selling with zero investment. The company offers sales on various social media platforms like Whatsapp and Facebook. It offers people to start their home-based business with ease.
The company offers the biggest collection of affordable products in almost every category. The categories are Women’s wear, Men’s fashion, accessories, kids’ clothing, and home essentials. The platform ensures an earning of up to 25,000Rs every year.
3. Shop101
Abhinav Jain and Aditya Gupta co-founded Shop101 in 2015, and it was officially launched in mid-2016. This social e-commerce startup enables entrepreneurs to sell online for free, just as they do on WhatsApp, Facebook, and Instagram, by creating an online store within two minutes.
Mission & Vision
The goal of the company is to provide Indians who want to work from home with a mobile reselling app that supports their personal and professional development. The vision of the company is to grow its platform as the biggest reselling platform in the country.
The organization claims to have grown at a rate of 25-30 percent per month in recent years, enabling over 3 lakh entrepreneurs across India. The company has empowered more than 90 lakh resellers and their families. Products worth more than Rs 1000 crores have been sold through the platform.
Shop101, a social e-commerce startup, is raising Rs 28.69 crore (roughly $3.9 million) in a new funding round from its current financial investors. Unilever, Kalaari, and Stellaris are among the investors. The company has gained recognition by featuring in various publications like live mint, economic times, INC42, and YourStory.
Services
The company offers users to start earning by selling products. The users can select their margins, and the profit is directly delivered to users. This platform allows the user to earn money from home and can use different social media platforms.
The entire payment gateway and the delivery system are provided by the company. Both the processes are entirely secured and are reliable for many users.
4. Mall91
Mall91 is a Noida-based social e-commerce startup that recently won the Business category of the government's ongoing Atma Nirbhar Bharat App Innovation Challenge. Mall91, established in 2018 by Nitin Raj Gupta and Shubham Paramhans.
Mission & Vision
It aims to meet the online shopping needs of rural India. Mall91's social e-commerce startup combines various gaming, talk, video, and social shopping functions into a single level. It focuses on the next 400 million customers in India's Tier 2, 3, and 4 cities who speak other vernacular languages.
Mall91, a social e-commerce company, announced that it had raised $7.5 million in a Series A round, indicating a lot of investor interest in the market. Kalaari Capital, Go-Venture, and BEENEXT are among our investors. The company has featured in reputed publications like live mint, The Economic Times, INC42, YourStory, tech crunch, and Crunchbase.
The platform is positively rated by its users as the services are available in different regional languages. Thousands of users have started using this platform and have benefited from it. The entire process of the platform is entirely safe and secure.
Services
The company offers an all-in-all platform for reselling your products and kick-starting a business using the platform. It offers products in different categories like electronics, garments, watches, home decoration, accessories, and groceries. Amazing offers are provided to users on the platform.
5. BulBul
Bulbul, a social e-commerce startup founded by TrulyMadly, fellow benefactor Sachin Bhatia, Gigstart co-founder Atit Jain, and Hawa co-founder Sichen (Sianna) Liu in December 2018 to help users find new products via a live and interactive e-commerce stage. Influencers also describe product functionality and engage with consumers to answer their questions, assisting them in deciding a live broadcast.
Mission & Vision
The company intends to make online shopping more enjoyable and interactive while also providing consumers with the opportunity to discover new things. It aims to make the best platform for a real-time shopping experience for the users. The company has the vision to spread its service throughout the country.
The company has gained countrywide recognition with its unique and extraordinary services. It has been featured in many famous publications like live mint, The Economic Times, YourStory, INC42, BW Disrupt, and many more. It is trusted by thousands of users, and the platform is profitable for many users.
Services
The company offers live product demos for users and offers high-quality products. The app supports easy payment and instant refunds. It offers exciting discounts to the users and provides a real-time shopping experience for users.
They offer different products in various categories like clothing garments, electronics, accessories, footwear, watches, home decoration, and groceries.
