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Monday, Oct 2, 2023

CommentSold Buys Popshop Live

Retail technology company CommentSold Technologies Inc., in a move to expand into the direct-to-consumer commerce sector, is acquiring Popshop Live. CommentSold, which supports creators looking to sell retail products while streaming live on social media, is merging its technology with Popshop Live’s live-streaming marketplace to create a platform called Popshoplive Powered by CS. The acquisition was announced last week. Financial terms of the deal were not disclosed.

CommentSold integrates with platforms including Instagram, Meta-owned Facebook, Shopify Inc., PayPal Holdings Inc. and TikTok. 

Its services include shipping support, a point-of-sales system, automated invoicing and webstore designing. With Popshoplive Powered by CS, sellers can stream live, similar to QVC, and sell on the company’s platform rather than on Instagram or TikTok. CommentSold will continue to function as an independent platform with tools for sellers who are not using Popshoplive Powered by CS.

Popshop Live’s employees will be rolled into CommentSold’s team, though they will still operate under the Popshop Live brand. Dan Dan Li, chief executive of Popshop Live, will stay on as chief innovation officer of the new joint entity. 

“Our community-forward marketplace will amplify creators’ platforms, turning their content into an e-commerce business, their following into a community and their fans into customers,” Li said. “Creators could launch their first live shopping show as fast as within one business day.” 

CommentSold Chief Executive Gautam Goswami said that the collaboration will allow CommentSold to introduce a new “monetization platform” on which creators can promote and sell items while tracking metrics and communicating with customers.

“With the revamped version of Popshop Live, creators will have the opportunity to market their products directly to their followers via their own uniquely branded marketplace and website,” Goswami said. 

Sellers can include influencers, small businesses, brands or individuals. Since its founding in 2017, CommentSold has processed more than $3.7 billion in sales, and served 22 million customers. It now has more than 7,000 creators and retailers selling on its platform. Popshop Live’s new platform requires creators to apply before they can begin selling. It’s free to join as a seller or shopper, and the company charges a 6% commission rate to the seller. 

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