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Online shopping is fun … isn’t it? It is now, as the popularity of interactive shopping platforms soars, and even some of the world’s most famous celebs get in on the act. Today’s startup is taking the US by storm.
Today’s update is 357 words, 1.8 minutes
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Startup of the day
TalkShopLive, California (USA)
What’s the deal: Founded in 2018, TalkShopLive (TSL) is a live streaming e-commerce platform, where sellers showcase their products via live shows, discuss product details, and chat in real-time with customers. Purchases can be made with just one click.
TSL has recently raised $9M in a seed funding round.
Underlying trends: DTC, Consumer goods, Live social-shopping
Why it matters: TSL has attracted a roster of businesses and celebrities — including Oprah Winfrey, Paul McCartney and Alicia Keys — to host their own QVC-style shopping channels.
Initially focused on music and books, TSL has expanded its portfolio to encompass beauty, food, sports, and fashion.
The video content created on the platform can be embedded and shared on other platforms, eliminating the hassle of creating multiple purchase points.
The platform and iOS app offer full services, including shipping and payments.
TSL claims to have grown an incredible 85% month-on-month during 2020.
Our take: The phenomenon of live stream shopping has really taken off, and its popularity is soaring.
The market in the US is expected to reach $25B by 2023. In China, live-streaming shopping skyrocketed from $66B to $150B in just one year.
TSL has certainly made buying more entertaining and interactive.
But, it has stiff competition. Popshop Live has just raised $20M, giving it a valuation of $100M.
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