Reviews42, the online consumer products research portal has collected 5 billion of series B funding from the Tiger Global Management LLC and Nirvana Venture Advisors. The company will utilise these funds for the development and innovation of products, building the team and enhancing the infrastructure. Along with this the company has also rebranded itself as ‘Zooper’. With this new branding the company aims to signify the broad capabilities offered by their platform across comprehensive price comparison, product discovery and user reviews.
Neeraj Jain, co-founder, Zopper, said, “Our online portal and mobile applications use has risen dramatically in last 18 months, and we believe this is just the beginning. We are planning to scale up every aspect of our business and provide a number of new products to enhance our customer are shopping experience. This round of funding would be utilized to build up our products, team and technology to seamlessly integrate offline retailers.”
“Our potential for growth is immense. The total addressable product related retail market is around $100 billion. With increasing smartphone penetration and trends like ROPO (Research online, Purchase Offline) and Showrooming on the rise, we are bullish on further growth. I feel we are at a vantage point of connecting online with offline.This round of funding enables us to get associated with the leading international investor, Tiger Global. The association will help us to get a wider exposure, which will be the biggest value for us. ” said Surjendu Kuila, co-founderZopper.
The company was started in 2011 and since then it has encouraged the users to share their product experiences with the other shoppers and product experts. The company adopted the new name ‘Zooper’ as the term is inspired by ‘shopper’. Commenting on the rebranding, Neeraj Jain, co-founder, Zopper, said, “With the rebranding, Zopper we expect to reach out to new sets of users who are avid shoppers and are in search of different options on the offline an online platforms.”
In the first round of funding the company collected undisclosed amount from Nirvana Venture Advisors, Blume Ventures and others.