Tedooo, a mostly social network promoting the trade earth, has raised $3 million in seed financing led by Stardom Ventures. The system is designed to assist raise and establish worldwide trade communities by utilizing partnerships between sellers and prospective buyers.
Michelle Apelker, CEO and co-founder of Tedooo, collected tens of thousands of enterprise playing cards during her visit to many countries in order to keep an eye on manufacturers and sort partnerships. She decided to create a simple application for herself in order to keep track of the large quantity of models she was producing interactions with. The application was developed to allow her to check with the shops for shots of new items and to order straight from them.
Michelle suggested that individuals begin by requesting her for entry to the app. After receiving feedback on their undertaking, the couple decided to establish a business close to the platform in 150 other countries. Tedooo claims to have hundreds of new natural and organic users every week and intends to expand further by promoting.
Michelle mentioned in a job interview with TechCrunch that we were rapidly growing. One month in a row, we had around 100 people sign up every day. Now, we have all-around 300 to 500 new registers every day. We consider Tedooo a promising platform.
Michelle claims that for the time being, end users will not be able to complete the in-app payment method on Tedooo. It is possible to also see their catalog, price ranges, and new items on their website.
Among Tedooo's key features is its Groups function, which allows consumers to connect with others who share their interests. These groups may be utilized to discuss common pursuits and to also make suggestions for establishing a business in that particular market.
Michelle believes Tedooo is a social community rather than an e-commerce platform. This market is mostly the crafts and DIY marketplace.
Tedooo offers a monthly subscription giving consumers access to numerous features, such as feed posts, chat, store listings, presents, and testimonials. Premium individuals are also quickly promoted in lookup success.
Tedooo's founder and president Tal Shoham stated the $3 million seed funding round for the business was oversubscribed. Stardom Ventures paid $2 million, and angel investors paid $1 million.
Shoham explained that in terms of what we're going to spend on, we're going to concentrate on producing the finest merchandise. We'll also spend on the team alone, HR, marketing, and branding, but the vast majority of the money will be spent on only the solution or the product or service, while another 30% will be spent on promotion.
Michelle and Shoham said Tedooo will look for a way to enhance the system of allowing individuals to do business and to communicate guidelines with other individuals in distinct communities. The enterprise is also contemplating further customizations and functionalities that it can offer in the future.