World’s leading livestream commerce and shoppable video platform to build upon current success with investment
Firework, the short-form video platform designed to bring a shoppable, livestream video experience to any website, today announced it received an investment from Amex Ventures. This investment comes in the wake of Firework’s partnerships in the retail space, including an exclusive partnership with Albertsons Companies, one the world’s largest food and drug retailers and parent company to over 20 well-known chains including Albertsons, Safeway, and Jewel-Osco.
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“This investment from Amex Ventures is about much more than just the dollar amount,” said Jason Holland, President of Global Business at Firework. “It’s also an affirmation of Firework’s mission to deliver enterprise-level customer engagement solutions to the small business sector. With this investment, Firework will double down on its commitment to democratizing the world of ecommerce, putting control back in the hands of businesses.”
In the APAC market, shoppertainment has already experienced widespread adoption, especially in China, where the total market value of livestream ecommerce is projected to reach $409 billion by the close of 2022. While the American market still trails behind countries like China, it is steadily gaining ground. According to a recent report from Coresight Research, the U.S. livestreaming market is expected to reach $11 billion by the end of 2021, and then skyrocket to $25 billion by 2023. With over 600 brands, retailers, and small businesses already embracing their livestream ecommerce and shoppable video technology, Firework is the clear leader in this rapidly expanding space.
“Amex Ventures invests in ideas that are transforming the everyday for consumers and businesses globally,” said Harshul Sanghi, Global Head of Amex Ventures. “Firework is building the infrastructure to power next generation digital shopping and e-commerce experiences. We believe Firework is positioned at the cutting-edge of ecommerce, enabling companies to interact with their customers in new and exciting ways.”