Poptron, a lifestyle social commerce platform announced a US$ 1 million funding from a NASDAQ listed company.
This strategic investment will allow Poptron to scale up its activities and technologies to become a key regional forum for social commerce.
Poptron is preparing to raise the remaining USD375,000 on pitchIN-a crowdfunding equity platform in Q1 2021.
These investments will be used to develop the platform’s version 2.0, expected to be up in January 2021 as well as expand the team and begin operations in Singapore by Q1 2021.
Poptron’s Founder, Brian Johnson Lowe said, “Before the Movement Control Order (MCO), I used to frequent local arts bazaars and discovered a lot of interesting, high-quality products from small brands and businesses.
Due to the pandemic, bazaars came to a halt, so these brands are depending on online sales, usually gathered from various social media platforms like Facebook & Instagram. Online demand generation became a critical area of focus, and it became quite evident that securing new customers online isn’t as easy as it seems.”
In 2020, there were approximately 2.2 million microbrands worldwide, with a total available market of USD7.6 billion. Out of this, Poptron’s Serviceable Available Market is worth US$ 3.8 billion, which is 1.5 million out of the 3.79 million estimated global market for microbrands in 2025.
Poptron aims to capture US$ 1.6 billion of the market share with 600,000 microbrands generating Poptron’s global revenue in 2025.
“With Poptron, we hope to gather all these brands in one place for consumers to discover, our idea is to prove the value of this unique platform and increase the business returns of our merchants first.
Being able to make the strides that we have during the course of this year is a testament to the drive and passion of the team.
We are also greatly appreciative of the support we have received from our investor and our legal advisers, Shin Associates,” he expressed.
