Instagram Live, that is, companies are very eager to broadcast live on Instagram and one by one they are opening stores for live broadcasting. This trend first started in China and then spread all over the world. In particular, such live broadcast sales are very popular on live broadcast platforms such as TikTok and Instagram. To sell a product, it is a very impressive method to talk about that product live.
Upmesh startup launched live streaming shopping app for stores looking to sell products in e-commerce. With this step, the venture received an investment of approximately 7.5 million dollars from the A series. Singapore-based startup Upmesh has raised the total amount raised so far to $10.5 million. Upmesh will use this investment to expand its regional presence in Southeast Asia.
The company will first improve the Instagram live sales application and develop automations such as logistics automation, after the sale; wants to develop all the automation features behind and develop live e-commerce products. Upmesh has grown 30% monthly since the initial period. In October, Upmesh was used by stores looking to sell products in approximately 350 live broadcasts in Singapore, Malaysia and the Philippines.
The tool developed by the Upmesh initiative, by reading the analytical data; helping sellers to sell their products. The company manages all sales during the live broadcast and automatically manages all necessary processes such as the payment link. The company can also broadcast live on many social media platforms. Vendors are going live on other social media platforms like Facebook Live and Instagram Live.
In the coming years, the number of applications, startups and companies selling live broadcasts is increasing. Upmesh’s competitors are platforms such as Shopee, Lazada, Shopline, TikTok, Instagram, YouTube, and the company has to compete with all these platforms. In addition, e-commerce platforms such as Shopify and Amazon are also developing business models in this area.
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