Gurgaon-based Snapdeal is planning to invest over $100 Mn (about INR 665 Cr.) in its Mobile only zero commission marketplace Shopo. The company aims to make it one million seller-strong platform.
Snapdeal had launched Shopo in July this year as a mobile-only platform, to bring small and medium businesses (SMBs) that cannot register on bigger ecommerce portals.
The company has already managed to get over 20,000 shops on the platform and aims at getting over a million shops in next one year.
Shopo has been developed by a 14 member team, it lets entrepreneurs list their products without submitting any sort of documents and avoid long verification procedure. Neither they have to pay any kind of commission to the company for the sale.
Shopo is inspired by Alibaba’s Taobao, and will look for revenues by means of advertising.
“Look at the Taobao model, we are just like them. We can look at options like advertising to make money. The idea of Shopo is to bring online as many sellers as possible,” Kunal Bahl said.