Tokyo-based Mercari, the startup behind the mobile flea market app of the same name, announced today it has raised 1.45 billion yen (approximately $14.1 million) from Global Brain, Globis Capital Partners, Itochu Technology Ventures, GMO Venture Partners, and other unnamed investors.
Since the service’s launch back in July, the Mercari app has surpassed one million listed items, growing at a pace of 10,000 items every day (as of last December). Their daily submissions recently grew to tens of thousand of items, and total transactions on the platform also reached several million of US dollars. The app has seen 1.5 million downloads to date. ...continue reading ...
The Bridge 3/31/2014 [en]
- Penetration of smartphones is definitely enlarging the C2C commerce market. There are many players in this field from startups like Fril, Listor, or Smaoku to large Internet companies like Yahoo, LINE, and CyberAgent. But it seems Mercari is the top runner in the mobile C2C commerce. It may be able to keep on growing by focusing on only Japan market, but Mercari prepares entering into US market. It is interesting to see how they will compete in even more competitive market.