Zlio secures $4 million in Series A funding
Mangrove Capital Partners backs the world’s most innovative online commerce network
Paris, July 8 2007:
Zlio, which allows every Internet user to become a shopkeeper, has today announced it has raised $4 million in funding from Mangrove Capital Partners, the first institutional investor in Skype, and that it has reached an important milestone: it has now launched 100.000 shops and attracts 2.5 millions unique visitors per month.
Zlio gives every Internet user the opportunity to create and run their own hassle-free internet shop – users simply build their store from a growing list of 3 million products and earn commissions on every item bought from their ZlioShop (or on every user they successfully forward to a supplier). “In essence, we are creating the world’s largest mall and giving Internet users the power to create businesses which reflect their personality” said Jeremie Berrebi, Founder and CEO of Zlio.
Prior to Zlio, there was little opportunity for people to engage in hassle-free trade on the web; the burden was on the user to advertise their shops and handle goods and their distribution. Zlio is revolutionising the market by creating a framework in which the technical legwork of internet trading is a thing of the past. Zlio is transforming what was previously an occupation reserved for a select few into a fun, fast, easy and risk-free way to make handsome profits online.
Jeremie Berrebi, Founder and CEO of Zlio, commented: “The funding is a vote of confidence for our vision. We are committed to helping the widest possible audience discover the joys of becoming an online shopkeeper”.
“The company already has shopkeepers earning $750 per month. What Zlio is doing is reminiscent of the Tupperware phenomenon. By engaging with the individual, Zlio is bringing a social component to e-commerce, which I believe will help create the most important online sales force ever seen” said Mark Tluszcz, Managing Partner of Mangrove Capital Partners.
About Zlio
Zlio is the world’s most innovative start-up dedicated to social ecommerce. The company allows internet users to set up their own online store and populate it with products from a growing database of several million items. The company was launched in September 2006 by Jeremie Berrebi, ex founder of Net2one (sold in April 2004), David Levy & Jean Guetta. Zlio has transformed what was previously an occupation reserved for a select few into a fun, fast, easy and risk-free way to make handsome profits online. www.zlio.com
About Mangrove Capital Partners
Mangrove Capital Partners “Mangrove” provides venture capital with a punch to entrepreneurs looking to build world class companies. Our mission is to help turn visions into realities by providing financing, thoughtful advice, relevant experience and deep industry relationships to our portfolio companies. Mangrove has invested in, among others, the following companies: Skype (www.skype.com), Securewave ( www.securewave.com), Dialcom Networks ( www.dialcom.com), Nimbuzz (www.nimbuzz.com), Properazzi ( www.properazzi.com), Quintura (www.quintura.com ), and Piczo (www.piczo.com).
To find out more about Mangrove Capital Partners, please visit www. mangrove-vc.com.
July 10th, 2007 à 6:51 pm
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