Popshop Live, a Los Angeles, CA-based livestream shopping community, raised a Series A funding valued at $100M.
The round was led by Benchmark with participation from TQ Ventures (Andrew Marks, Schuster Tanger, and Scooter Braun), Mantis VC (The Chainsmokers), Access Industries and SV Angel as well as return investors Floodgate, Abstract Ventures and Long Journey Ventures. Individual investors in the round include Sophia Amoruso, Baron Davis, Jim Lanzone, Kevin Mayer, Vivi Nevo, Michael Ovitz, Hailey Bieber and Kendall Jenner. Benchmark’s Matt Cohler will also join the board.
The company intends to use the funds to accelerate its product and regional expansion efforts, to grow its livestreaming shopping experience, bringing authentic connection and community back to e-commerce.
Founded by Dan Dan Li, Popshop Live is a livestreaming shopping app at the intersection of social, e-commerce and entertainment. Sellers are equipped with the tools needed to tell their stories and build a dedicated customer base, while providing an engaging and entertaining shopping experience. Popshop Live curates interactive shows that engage shoppers, creating a true community and generating sales.
The platform has increased sellers by more than 500% over the last three months as it expands to new verticals including vintage fashion, furniture, collectibles and food products from sellers including 3D Retro, JapanLA, Earthing.VIP, Kettle & Fire and Mall of America.
The company also announced the appointment of two tech industry veterans. Former Head of Growth at Instagram and Vice President of Product at Instacart Bangaly Kaba has joined to lead platform growth and former Head of Uber Eats Jason Droege will spearhead Popshop’s expansion.