Duitang: Chinese Social Shopping Initiative Focusing on Items Sharing and Discovering

Social Shopping Attracting Attention and Money

Social commerce startups attract over US$ 1.93 billion in funding in the first trimester of 2011(Jan-April), to mention a few, Shopsocial(social shopping/rewards, US$ 1.2m by Metamorphic Ventures, Jan 14), Virtue(facebook commerce, $17m by Scale Venture Partners and Advent Venture Partners, Feb 18), Lockerz(social shopping/rewards, $30m, Apr 12) and StylistPick(social shopping/rewards, $8m by Accel Partners and Index Ventures, Apr 12).

Social shopping initiatives seem on a roll beginning early this year, which explains the reason why more and more entrepreneurs are plunging into the waterfront around the world, and China is of no exception.

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