19 Feb '13, 1am

.ShopSpotApp rejigs its approach en route to USD 628K investment from Jungle Ventures, @SingTelInnov8

.ShopSpotApp rejigs its approach en route to USD 628K investment from Jungle Ventures, @SingTelInnov8

ShopSpot rejigs approach en route to USD 628K investment from Jungle Ventures, SingTel Innov8 February 19, 2013 by Terence LEE ShopSpot had a rough 2012 when, after a hot start, its peer-to-peer mobile marketplace struggled to take off. Now, with a SGD 779K OUSD 628K) cash injection from Jungle Ventures and SingTel Innov8 , the Thailand and Singapore based startup is giving it a second go. While the app (available on iOS ) received 10,000 downloads in just over a month when it launched in April last year, CEO and co-founder Natsakon Kiatsuranon found 60 days in that the Craigslist model does not seem to work well in Asia. That was not the only challenge. “It was so much harder than we thought to built a two-sided marketplace,” said Nat, echoing another startup that faced similar challenges and had to pivot. “The first marketplace to reach liquidity wins and it will not hap...

Full article: http://sgentrepreneurs.com/2013/02/19/shopspot-rejigs-its...

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