Livestream shopping platform Talkshoplive raises $3M

Brief:

• Talkshoplive, a livestream commerce platform, on Tuesday announced that it raised $3 million in seed funding from Spero Ventures and other investors. The capital will allow the company to build out its product management and technical teams, manage the increasing demand from merchants and consumers and expand its global reach.
• The platform, which facilitates transactions within videos, currently has more than 3,000 small businesses that are actively using the feature to sell to customers. The company assists sellers in creating live shows, processing orders, shipping and payouts, according to a company press release.
• The platform also allows sellers to chat with consumers in real time and tag items for sale purchased via a one-click “buy” button during live videos.

Insight:

As COVID-19 pushed retailers to reach shoppers sheltering at home, other companies like Facebook and QVC have been experimenting with livestream commerce and testing new platforms.

Though livestreaming has been critical for QVC and HSN long before the COVID-19 pandemic, the company has been adjusting its livestreams and operations to keep its staffers and guests safe, adapt to the streaming era and transition into the post-COVID era.

Among Talkshoplive’s noteworthy corporate partners are Fred Segal, Best Buy, Harper Collins, Penguin Random House and Universal Music Group, according to the release. The company said it has also connected consumers with celebrities like Alicia Keys, Dolly Parton, Catherine Zeta-Jones, Kristin Cavallari and Jenna Dewan.

The company noted influencers have tapped into its platform to sell music, books, cosmetics and other products. Spero Ventures founding partner Shripriya Mahesh was impressed by Talkshoplive’s focus on small businesses and the way its platform lets customers and sellers engage with one another, according to Tuesday’s announcement.

“Spero’s commerce marketplace, data, and technology experience is strategic to talkshoplive’s network and community expansion,” Talkshoplive CEO Bryan Moore said in a statement. “We are looking forward to growing faster together with the Spero team.”

Source: Retail Dive