Ephemeral messaging app Snapchat is making an investment in shopping app, Spring. However, the amount and other details of the investment haven’t been disclosed yet.
New York based Spring was launched last year for both iOS and Android users. The app recommends menswear and womenswear and enables its users to follow the brands they love as well as purchase new arrivals, exclusives, and one-of-a-kind products, as per a report by Recode.
The startups’ parent company Jello Labs raised a funding of $25 million in April 2015 from Thrive Capital, Google Ventures, Groupe Arnault and others.
In November 2014, Snapchat partnered with mobile payment company Square to launch its payment service Snapcash. The service allows Snapchat users to link their debit cards to their account and send money to a contact by starting a chat on smartphone, typing the dollar sign, entering an amount, and hitting the green button.
The messaging app after starting its own payment service is now also entering the eCommerce shopping space, slowly and steadily spreading its wings!Category Ecommerce Investments