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A social media app named Depop aiming millennial and Genz shoppers have bagged $62M also passes 13M users



A social media app named Depop aiming millennial and Genz shoppers have bagged $62M also passes 13M users

The omnichannel is getting famous very rapidly. They are selling things to the customers wherever they feel like. The customer is spending their time on different things. Different plots were given to different peoples who want to start their business. One of the rapidly growing these is declaring an excellent round of funds which will be helping to stay on trends.

Depop is a London based startup company which has already started an application for different people, which will be announced to sell different things to different third party people.  Series C which was of $62M was led by an organization named General Atlantic. There were also a few investors who took part in this. Those investors were Creandum, Balderton Capital, Octopus Ventures, TempoCap and CEO and founder of Swedish payment organization named Klarna.

They have planned to use fundings in different areas. At first, they will work on building on startup technology. The image detection technology will be on the top priority.

After that, they will use the funding to expand the business in all over the U.S. The CEO of Depop has said that they are going to increase the market from 5 million to 15 million.

There is a very tough competition among those organizations. There were different peer to peer selling platforms, which is increasing commerce.

Rising of bedroom entrepreneur

If you are focusing on the growth of your business, then you can gather your funding in a very proper way.

Depop is primarily aiming at the millennial with the help of GenZ consumers. The organization has already had 90% of active consumers. The active members are all at the age of 26. If you see the Home market, which is the U.K then you will see that the one-third of the consumer is of the age between 16 to 24.

Raga has already said that:

 “Our mission is to redefine the fashion industry in the same way that Spotify did with music, or Airbnb did with travel accommodation.” And she also added that  fashion world hasn’t really taken notice “of how things have evolved at the consumer end, she continued, citing concerns with sustainability (and specifically the waste in the fashion industry), how trends are set today (no longer dictated by brands but by individuals) and how anything can be sold by anyone, from anywhere, not just from a store in the mall, or by way of a well-known brand name website. “You can now start a fashion business from your bedroom.”

But if you do a little research, then you will see that social media is not a cup of tea for the bedroom entrepreneur.