Netherlands-based e-commerce platform Social Shop has received an investment from SanomaVentures, the corporate venturing arm of media and learning company Sanoma. The amount was not disclosed.
Social Shop is a social commerce network where users can set up their own online shop, promote products and offer discounts to friends. Each sale earns the shopkeeper a reward, which is then shared with the buyer.
The new funds will enable Social Shop to roll out the concept within in the Netherlands, further develop its product and plan for international expansion.
Social Shop founder Sander Dullaart said: ”Not only were we looking for additional growth capital, we also wanted expertise in the field of online marketing, lead generation and e-commerce. With Sanoma we found that, plus the portfolio of Sanoma and SanomaVentures offers many opportunities for cooperation which can further accelerate our growth”.
Founded in 2012, Social Shop has over 30,000 users.
– Image courtesy Sanomaventures.com