The social network says acquiring Gnip will help companies better understand what consumers and other brands are saying across Twitter.
A flash-sale site with a cultural focus raises $2.8 million
Exclusively.In, which sells Indian goods, will use the funds for technology and expansion.
Managing Editor, International Research
Topics: Accel Partners India, Ashish Gupta, Canada, Delhi, Exclusively.In, Facebook, flash-sale site, Gilt Groupe, Google, Helion Venture Partners, India, international shipping, Prashanth Prakash, Rue La La, Sunjay Guleria, United Kingdom
Exclusively.In, a members-only flash-sale site that sells Indian fashion, jewelry and home décor, has raised $2.8 million from Accel Partners India and Helion Venture Partners. Ashish Gupta of Helion Venture Partners and Prashanth Prakash of Accel Partners India will join Exclusively.In’s board of directors.
The retailer, which operates in the United States, says it will use the money to improve its technology platform and expand to Canada, the United Kingdom and India early next year.
“We’re bringing the highest level of Indian design and workmanship to the world, which was previously only accessible to a select few who could visit India,” says Exclusively.In co-founder and CEO Sunjay Guleria. “We’ve created our own 'passage to India', connecting the global fashion consumer with Indian fashion in a simple, fun and intuitive online shopping experience.”
Exclusively.In says it ships orders directly from Delhi to U.S customers in less than a week on average from when the order was placed. The site offers goods from more than 200 vendors and manufacturers.
The company says its customers have been extremely loyal, with more than 65% of its current subscribers making repeat purchases. Exclusively.In won’t release the number of consumers who have signed up for membership, but it has nearly 60,000 Facebook fans.
Accel has invested in such companies as e-commerce analytics vendor MuSigma and mobile ad technology provider AdMob, which was bought by Google Inc. last year for $750 million in stock.
Helion is an India-focused venture fund that invests in technology and Indian consumer services companies. Its portfolio includes online Indian travel company MakeMyTrip.com and enterprise back-up and recovery vendor Zmanda Inc.