Womanstalk, “Korea’s first video commerce platform” comes aboard as the first CSP (Commerce Service Provider) of SPIN Protocol
Hi Spinners!
Today we are going to introduce the first strategic CSP (Commerce Service Provider) of SPIN Protocol, “Womanstalk” :-) Womanstalk was launched in 2015, proudly named as the Korea’s first video commerce. Womanstalk is a video commerce platform on which influencers introduce and promote products and gain a share of sales revenue.
On Womanstalk, Suppliers are provided with video contents produced by influencers — and in turn, suppliers list their products at the lowest price.
Such business model benefits all three parties involved in the process — Suppliers, Influencers, and Customers. Suppliers conveniently acquire marketing resources, Influencers earn profit, and last but not least- Customers purchase products at the lowest price.
Starting from the beauty category, Womanstalk has been actively expanding its business area to fashion, lifestyle, and food.
Womanstalk’s revenue size has been growing by 200% every year, and this year’s revenue is projected to be 50 billion KRW (4.3 million USD). MAU(monthly average user) has increased from 900K in May 2017 — to 1.55million in April 2018, which is a 1.6-fold increase in a year. Especially, the rate of returning users has been increasing, creating a healthy ecosystem of increasing LTV(Lifetime Value).
The number of products listed is crucial for a commerce platform. As of August 2018, 1,695 brands are registered on Womanstalk and about 210,000 products are currently being displayed. Since the first quarter of 2017, Womanstalk has executed aggressive business development and has been increasing the number of suppliers by 115% to 160% every quarter. Currently, major K-Beauty brands with a massive global customer base — such as LG Household & Healthcare, Nature Republic, Etude House, The Faceshop, Tonymoly -are listed on Womanstalk along with global beauty brands.
There are about 100 active influencers on Womanstalk and they have been promoting and selling products by uploading product-related contents on their SNS. The contents shared by the influencers receive as few as 100K views and as many as 1M views.
Womanstalk has secured total of 130 billion KRW in 3 rounds of investment, proving the growth potential. Major VCs are: Korea Investment Partners, Intervest, IMM, KDB Capital, Capstone Partners, Seoul Investment Partners, The Nest&Company, Nvestor, UTC investment, The Wells Investment, and CyberAgent Ventures.
The team members of Womanstalk have years of experience in e-commerce and IT Industry, and previously worked in companies such as Naver (Korea’s leading IT Company), Ebay, Ticket Monster, CJ Oshopping, Qoo10, and Bithumb. Team members from diverse backgrounds are creating a synergy in Womanstalk’s open, creative, and fun environment.
Womanstalk, the first strategic business partner and CSP of SPIN Protocol, will launch a beta version of the renewed service early next year.
Team SPIN Protocol is looking forward to the journey we will be on with Womanstalk.
Hope you join us on this wonderful journey :)
About SPIN Protocol
SPIN Protocol is a decentralized commerce ecosystem for social influencers. We empower suppliers to reach target influencers directly without any intermediary parties to sell their products worldwide. Anyone could be an influencer of their interest, and monetize their fame by selling relevant products of their choice.
Official Telegram Group: https://t.me/spinprotocol
