WeShop, a New York-based start-up that enables consumers to receive better pricing and terms from retailers and brands, and share information about the and services they buy, has completed a $4.25m Series A round of funding.
The funding was provided by a syndicate of investors including:
– Jonathan Miller, Chairman and CEO, Digital Media Group of News Corporation and former America Online CEO;
– Frank Kenny of Delta Partners;
– Martin White, and Carlos Sala, respectively the former Founder/CEO, and CFO, of Abacus Direct.
The WeShop platform also allows merchants and brands on a CPA basis to precisely target consumers with fully permissioned offers.
Currently operating in invitation-only mode, WeShop already has more than 100,000 members registered on its free platform.
Members can share information on a fully anonymous basis about what they are buying, where from, and how much they are paying. They can also join specialized “shopping networks” where they can anonymously share information about products they buy with other consumers with similar interests.
WeShop plans to create thousands of similar networks over the next several months.