The company, which is incubated under NTUitive, had earlier received its first round of funding from Rebright Partners. While Wilson Ng, Head of Communications, ShopperBoard, declined to disclose the amount, he shared that the funds will be used to boost hiring and marketing efforts.
Founded in October 2013, ShopperBoard was first launched as a web-based platform the very same month. It acts as a one-stop aggregator for shoppers to browse their favourite e-stores and follow fellow style-makers. Furthermore, with a bookmarklet, users can add items from any online store. The mobile app will also support this feature with an in-app browser.
According to an official release, ShopperBoard claims to have achieved a monthly user growth rate of 20 per cent without “active marketing”. Ng further declined to share how many users there are on the platform, but added that most of these users are from Singapore.
Furthermore, shoppers are adding more than 5,000 new product saves every month. At the moment, there are more than 60,000 user-curated products and more than 1,000 store pages on the platform. These stores include ASOS, Lovebonito.com, and Zalora.
“The progress of e-commerce is not necessarily the same here in Southeast Asia as it is in the United States or Japan. People here buy and sell products on blogs, social media and classified media. Those are rapidly shifting e-commerce platforms in recent years and will remain in the market for quite a while,” said Takeshi Ebihara, Founding General Partner, Rebright Partners.
Going forward, ShopperBoard will be working on a personalised recommendation engine, which will combine machine learning and artificial intelligence technology to recommend new styles, stores and shoppers to its users. The firm is also looking to implement an automatic price checking feature.