LimeRoad, India’s online social discovery platform for women, announced that it has raised a Series B round of USD 15 Million led by Tiger Global, with participation from existing investors Lightspeed Venture Partners and Matrix Partners India.
The investment will help LimeRoadaccelerate towards its mission of becoming the most delightful lifestyle discovery platform for women in the country, and comes on the back of LimeRoad’s launch of its ‘one-of-a-kind’ Android mobile app.
Suchi Mukherjee, Founder and CEO, LimeRoad,said,“We are revolutionizing the way lifestyle products are discovered and ultimately bought online in India, and are delighted to work with investor partners who share our hunger for winning and are supporters of our disruptive model to get there. India accounts for 20 per cent of the world’s manufacturing of lifestyle products and we are convinced that conquering the discoverability of that wide array, needs new thinking and a fresh socially-architected approach. 90 per cent+ of our 1,50,000+ products and looks are unique and user generated, and this is growing 30-40 per cent per month. On average the community of LimeRoad users generate 3x more actions and page views per session on our platform versus any other alternative available to them in this market.”
“Our mobile traffic, most of which is organic, is growing at 45 per cent month on month. With that as backdrop, we are today launching our Android Mobile App. We architected this App to be simple, addictive, with style updates every 30 seconds, and have made it the lightest app in its segment to address the hardware constraints of Indian users,” added Prashant Malik, co-founder & CTO.
Bejul Somaia, Managing Director, Lightspeed Advisory Services India said, “We continue to invest behind what we believe is a truly exceptional team that consistently refuses to take short-cuts and instead focuses on finding scalable, long-term solutions to difficult problems. The LimeRoad team has already disproved many accepted notions in the world of Indian online commerce-for example that it is not possible to grow without offering heavy discounts or that Indian users aren’t savvy enough to embrace deep social activities like scrapbooking, curating collections or sharing.”
Avnish Bajaj, Managing Director of Matrix India said, “LimeRoad is leading the social commerce revolution in India with a focus on winning the two biggest drivers of future online commerce marketplaces-women and mobile. The community of scrapbookers on LimeRoad is zealously passionate about the platform and reminds one of similar communities in scaled marketplaces like eBay. Suchi and Prashant have an exciting vision for the future for this platform and we are privileged to be partners in this journey. ”
Our typical marketing budget is usually 10 per cent of the topline spend
There are some forces impacting the way our business works. The IT/ITeS sector has changed tremendously. Platforms like Twitter have made everyone journalists. Smartphones have made everyone a photographer. The trend that we are seeing is one of hyperdigitalization, which is causing the lines between product and services to blur. For example, <a href=http://www.exchange4media.com/company/news/amaz...
The OOH sector is among the fastest growing, globally. Brands and marketers have realized its potential and impact and begun to craft medium-specific adverts. Self-regulation is not only necessary but also essential to growth of the sector. The industry needs to exercise a certain level of this self-restraint to prove its commitment to maintaining the best standards in advertising.
<b>Clients are looking for experiential solutions beyond radio or print: Abraham Thomas, Radio City 91.1 FM</b><br><br> From entering new markets to launching large format events, Radio City 91.1FM has been on a roll. The radio channel recently announced the launch of India’s biggest singing talent hunt-Radio City Super Singer Season 8. Earlier this year, the channel set up its own creative-cum...
The interesting animated rap music video encapsulates Droom’s ecosystem tools and their role in facilitating second-hand automobile transactions
Perfumes are invisible and these new ads from Skinn create a story out of this
New campaign aims at first-time users by providing ‘first-night free’ – a first-ever offering by the brand on online hotels booking