Legacy TV services like HSN and QVC may put live shopping shows on the map for consumers, but the Livestream trade has found a whole new lease of life in the epidemic, with retailers and e-commerce leviathan tackling a perfect storm of frenzy for video entertainment, a tendency to stay away from stores (or even municipal rules in some cases), and the encouragement of e-commerce activities to bring more shopping “shows” online. Now, a startup and app called Popshop Live, which came to this idea with a new twist – a unique business that taps into millennial tastes for shopping from smaller and more bridge brands and individuals as big as the merchants – announced some funding today. Doing so has found a lot of sellers, buyers, and the media world.
The startup is almost. Closed at a series of about $20 million at a valuation of $100 million (startup is not disclosing the exact amount but a source very close to the deal confirmed this number), at a valuation of about $100 million.
Benchmark is led by TUQ Ventures (Andrew Marks, Schuster Tanger, and Scooter Brown), Mantis VC (Visit the Chancemakers VC), Access Industries and SV Angel, and former back Pladgate, Abstract Ventures. Long Journey Ventures in the seed round of pop shop in July 2020. Its personal investors in this latest series include Sophia Amoroso, Baron Davis, Jim Lanzon, Kevin Mayer, VV Nevo, Michael Ovitz, Haley Bieber, and Kendall Jenner. Yeah Al that sounds pretty crap to me, Looks like BT ain’t for me either.
But wait there’s more! It feels good to say late night shopping adventurous. The fund is pulling in some impressive numbers behind the company’s direct flow format. Sellers at PopShop Live are seeing an overall product value of $500,000 and more, with 80% of customers returning in 30 days to buy more. PopShop is not disclosing how many vendors it has on its platform right now but says the number has increased by 500% in the last three months.
