Social Commerce Provider Shopit Gets $2.5 Million Second Round
This story was written by Tameka Kee.
Peer-to-peer social commerce company Shopit has secured $2.5 million in the first tranche of a second round of financing. New investor Emerson Ventures joined the roundwhich Shopit hopes will ultimately close at $7 millionalong with previous investor Propulsion Ventures. The LA-based company develops apps that let users buy and sell products across social networks and established online sales channels like eBay (NSDQ: EBAY). It plans to use the funds to help build out its own ad network and grow its sales team. The size of Shopit's first funding round wasn't disclosed.
By Tameka Kee