- Receives second round of funding worth 5 million from Tiger Global Management LLC and Nirvana Venture Advisors
- Funds to be utilized in building product, team and infrastructure
- The new name Zopper inspired by term “shopper”
Online consumer products research platform Reviews42 has raised 5 million of Series B funding from Tiger Global Management LLC and Nirvana Venture Advisors. The funds will help the company in further development and innovation in products, building the team and enhancing infrastructure. Apart from raising their second round of funding, the company has rebranded itself to ‘Zopper’, signifying the broad capabilities offered by their platform across comprehensive price comparison, product discovery and user reviews.
The company raised an undisclosed amount in the previous round of funding from Nirvana Venture Advisors, Blume Ventures &others in April last year.
Speaking on the funding 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 fundingwould 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 SurjenduKuila, co-founderZopper
Since its inception in 2011, Zopper has encouraged users to share their product experiences with the community, which consists of shoppers and product experts.
Keeping its direction of operations unchanged,the new name – Zopperis inspired by the term “shopper” and purposefully holds no meaning. Thereby, not restricting the company’ image of performing a defined operation as it is engaged in multiple benefits such as price comparison, reviews and providing every information related to shopping.
Speaking about the decision to rebrand, Mr.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.”
“The rebranding was doneas the new name represents multiple benefits provided by the company to the users and is not restricted to only reviews.” addedMr.SurjenduKuila, co-founder, Zopper.