ShopShops, an interactive, global livestream shopping platform, has received $15 million in Series B funding, co-led by LightShed Ventures and Acrew Capital.
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The funding will be used to accelerate the expansion of ShopShops in the United States as well as to continue its growth among cross-border shoppers in China.
The finance was supported by existing investors Union Square Ventures, Forerunner Ventures and The Chernin Group (TCG). Dave Lu from Hyphen Capital and Gaingels also participated in the round.
ShopShops’ host sellers, which are content creators, use the ShopShops mobile app to provide shoppers in the United States and China with an interactive live shopping experience.
Liyia Wu, ShopShops founder and global CEO, said, “Since founding ShopShops, the vision has been to allow customers all over the world to shop global, like a local, from the palm of their hand. I’m thrilled to have such amazing investment partners by our side as we embark on this next stage of growth.”
Rich Greenfield, partner at LightShed Ventures, said, “ShopShops sits at the intersection of three of the most exciting trends LightShed is focused on: the explosion of the creator economy, the evolution of online video to live/interactive experiences and the accelerating shift of consumer spending toward e-commerce. We believe ShopShops is uniquely positioned to capitalize on the global adoption of live streaming video shopping, leveraging their front row seat to what is now a $17 billion+ business in China."
