Founders of buywith (PR)
buywith, The start-up company that developed the “Livestream-Shopping” platform, today announces the completion of a $ 9.5 million lime round. The company will use the investment to meet the growing demand from its global customers and to expand its sales, marketing and R&D teams around the world and especially in North America.
The company was founded in 2018 by Adi Ronen Almagor and Eyal Sinai, which has offices in Tel Aviv and the United States and is now recruiting employees in the UK to expand its presence in the European market.
The company allows brands and retailers with e-commerce sites to conduct mass shopping sessions with thousands of attendees who watch a live video of influencers, experts and celebrities, who take viewers on a shopping trip on the site, recommend lifestyle products and guide them on how to use them, while providing tips.
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The growing global trend came from China, where sales through livestream shopping platforms reach hundreds of billions of dollars a year.
As recently published inBusiness Insider And inGlossy Walmart, the world’s largest retailer, is expanding its collaboration with the platform buywith For hundreds of monthly sessions in order to reach new audiences and encourage them to interact with content creators, who host the mass shopping events on the site and recommend products in real time.
buywith Provides live services these days also to Steve Madden, Charlotte Tilbury and other brands worldwide, thanks to a simple integration – a unique screen sharing technology, for which patents have been filed and a fun, interactive and guided shopping experience, which until now was only possible in physical stores.
Platform buywith Provides its customers with an average increase of 8 times in conversions for sale on e-commerce sites, up to about 70% involvement in sessions (percentage of active users live) and an average of 10 times return on investment.
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These days buywith Launches Marketplace, where brands can select the influencers who will lead the sessions, directly from the growing and quality creative community of buywith. Coupled with the company’s technological uniqueness, this is another marketing advantage, which allows brands to easily increase the number of sessions led by influencers.
Buywith (Public Relations)
“As one of the first brands to use the live streaming shopping platform buywithWe are proud to lead the field in our industry, says Alexandra Perry (Alexandra Perry), Former director of retail marketing, marketing in all channels and innovation in the company Estée Lauder Companies Inc In Israel. Our makeup artists and social media influencers have held dozens of live shopping sessions. Through the use of this technology, we have achieved a very high conversion rate for sale. In addition, we made contact with our audience in a unique way. ”
She led the initial fundraising round igniteXL Ventures, A global fund located in Silicon Valley and specifically focuses on investments based on technology in the field of lifestyle and e-commerce. “In light of the tremendous growth of live shopping in Asia, we are expected to experience rapid growth in the field in the West. In contrast to other live shopping methods, buywith “Hosts the sessions directly on the brand’s website, reaches customers on the site where they are located and increases the conversion rate in an unprecedented way in the e-commerce industry,” said Claire Chang (Claire Chang), A founding partner inigniteXL Ventures.
Other notable investors are Fab Co-Creation Studio Ventures Founded by Odile Rosol (Odile Roujol), Former CEO of a company LancomeJohn Kaplan (John Caplan), Former President ofAlibaba.com United States, Kevin Ambrosini (Kevin Ambrosini) CEO Alibaba.com In North America, Iran CVC, Factory54The leading prestigious retail chain in Israel andTrue Global VenturesA UK-based e-commerce and retail fund andRegah Ventures. In addition, the company is proud to be supported by no less than 18 investors from Israel, such as the Investors Club. NEOMEFrom the USA and Europe.
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Live trading is essential for an increase in conversion rates in e-commerce. Around 30% of buyers make a purchase before leaving the physical stores, compared to conversion rates of about 4% in e-commerce worldwide. ” Buywith Intends to close that gap, “said John Kaplan (John Caplan), Former President of the America and Europe Division inAlibaba.comWho participated in the recruitment round.
Livestream shopping is the next step in the development of e-commerce, and it will become the natural way for shoppers to make purchases. This is because they are interested in getting more value, information and a more fascinating and comprehensive shopping experience when purchasing. In 2021, the livestream shopping sector generated revenue from sales of $ 300 billion, and the trend is expected to strengthen with an increase in revenue of $ 35 billion in the US in 2023.
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