India\\\'s first fashion focused social network, Roposo.com has announced that they have raised bridge funding through their existing investors bringing the size of the total investment close to $1 million. The initial funding was raised from India Quotient, 5 ideas Start up Fuel and Binny Bansal, Co-founder, Flipkar.com as an angel investor.
India's first fashion focused social network, Roposo.com has announced that they have raised bridge funding through their existing investors bringing the size of the total investment close to $1 million. The initial funding was raised from India Quotient, 5 ideas Start up Fuel and Binny Bansal, Co-founder, Flipkar.com as an angel investor.
Conceived as a destination for fashion addicts, Roposo.com, now has over 2 lakh products across 5,000 brands from more than 150 vendors. All of these products are curated and recommended to each user as per her individual taste. The strength of Roposo.com's recommendation engine reflects in the 5-8 per cent effective conversion rate of traffic over three months.
Binny Bansal said, “These are a bunch of hungry innovators from my alma mater, IIT Delhi. Not only do they have a great idea, they have the skills to make it happen. A networking destination built around fashion where women can hang out and exchange thoughts & ideas, leading them to buying fashion-products is a ground-breaking business idea.”
Roposo.com has crossed 100,000 unique monthly visitors and already has significant social activity - such as users creating lists, following other users, liking products, commenting, sharing on Facebook etc. The most common activity is adding products to lists. In the month of May, more than 300,000 SKUs (non-unique) were saved in lists by active users.
Mayank Bhangadia said, “Everyone has witnessed how e-commerce has revolutionized the availability of products for shopping. But it has created another problem or need – how to discover these products in such a cluttered online space. Today the kinds of tools available are simply not designed keeping in mind how the user goes about shopping. Roposo.com is solving this problem through data.”
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