Livestream shopping platform Popshop Live bags Series A funding

Livestream shopping startup, Popshop Live, has closed a Series A funding round at a valuation of $100 million.

The venture did not disclose the exact amount raised, but a source close to the deal said it was around $20 million.

The round was led by Benchmark, with participation from TQ Ventures, Mantis VC, Access Industries and SV Angel as well as return investors Floodgate, Abstract Ventures and Long Journey Ventures.

Individual investors included Sophia Amoruso, Baron Davis, Jim Lanzone, Kevin Mayer, Vivi Nevo, Michael Ovitz, Hailey Bieber and Kendall Jenner.

The funding will accelerate Popshop Live’s product and regional expansion efforts.

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— Popshop Live (@popshop_live) July 7, 2021

The company has also announced the appointment of former Head of Growth at Instagram and Vice President of Product at Instacart, Bangaly Kaba, to lead platform growth, whilst former Head of Uber Eats Jason Droege will spearhead Popshop’s expansion.

“It’s rare to be able to join a company that stands to create and define its category,” says Kaba.

“The combination of community, culture and commerce that Popshop has unlocked is like lightning in a bottle. I witnessed it first as an advisor and knew I wanted to be all in on scaling this platform.”

“Livestream commerce is not just a trend in China and through the pandemic, it is an emerging multi-billion-dollar phenomenon whose growth is accelerating every day,” comments Popshop Live board member Matt Cohler of Benchmark.

“Founder Dan Dan has created something fundamentally new, unbounded, and powerful. Her tenacity and commitment to her vision of creating a marketplace for culture is singular.”