The retail live shopping marketplace raises first institutional round, led by Origin Ventures
ShopThing, a leading live shopping marketplace headquartered in Toronto and New York, announces today it has closed a $10million USD Series A round led by Origin Ventures, with participation from Pritzker Group and Interplay.
Founded in 2018, ShopThing’s technology allows its network of shoppers to walk into stores and create a shoppable product with the click of a button, live streaming to audiences of hundreds of thousands and providing seamless purchase and delivery. ShopThing has experienced explosive YoY growth across active users, GMV and top-tier retail partnerships in the luxury category. The team has been at the forefront of the live shopping phenomenon locally, amassing a North American following unlike any other in the retail space among consumers and creators. Hailed as the next evolution in e-commerce by industry analysts, ShopThing’s approach in the live shopping space is unique and first-of-a-kind, focusing on short video content in lieu of traditional hours-long live streams.
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“Since day one, our approach in this market has been tailored specifically for the North American audience. Live shopping is absolutely what’s next for e-commerce, but we fundamentally believe that it will look different in the West,” said Maggie Adhami-Boynton, Co-Founder & CEO of ShopThing. “The results speak for themselves and we are thrilled to have the support of the world-class team at Origin Ventures, who bring a wealth of experience across retail, marketplaces and the creator economy, as our Series A lead investor. Together, we have an exciting opportunity to pave the way for live shopping in North America.”
“ShopThing sits at the crossroads of the rapidly expanding live shopping market and the evolving creator economy,” said Origin Ventures investor Jacquie Marshall Siegmund. “ShopThing allows Digital Natives – Millennials and Gen Z consumers who shop differently than previous generations – to experience and buy from luxury brands on mobile in seconds. Retailers and brands are excited to have live audiences of thousands visiting their brick and mortar locations via ShopThing’s shopper network. Origin Ventures is pleased to partner with ShopThing’s world-class team and co-investors Pritzker Group and Interplay.”
With its first round of institutional funding, ShopThing is gearing up for rapid scale across new categories, markets and product development while continuing to fuel its growth in user adoption, retail partnerships and with the content creator economy.
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