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Business Economy


Migme expands e-commerce platform with launch of migshop

New Delhi, Jun 22 (UNI) Looking forward to the integration to the platform of recently acquired social news site Hipwee,Global digital media company migme Limited “migme” today expanded its e-commerce offering with the launch of migshop store. By creating its own social e-commerce offering, migme will enable its key influencers, partners and users to buy and sell through migme’s own platform, which will increase user engagement and revenue,said the statement. The formation of migshop is an important part of the company’s social e-commerce strategy and follows the integration of recent e-commerce acquisitions Sold.sg (pay-to- bid business) in 2015 and Shopdeca (business-to- consumer e-commerce retailer) in April 2016. Users will be able to access migshop via the web and mobile web channels,company added. Social e-commerce combines online shopping with the power of social networking and recommendations. It is a highly a common business model in the Asian region that is attracting a high level of investment from global institutions. Currently the migshop store offers a curated selection of products from leading South East Asian e-commerce merchant Lazada and online marketplace Snapdeal. More merchants are expected to be added in the coming months. The store will initially be accessible to migme users in the Indonesian and Indian markets, with the Philippines and others to follow,stated the company. Migme,CEO , Steven Goh said, “Building our social e-commerce and integration strategy is about creating the right platform and experience for our users in South East Asia, which attracts users, increases their engagement with the platform and creates additional revenue generation opportunities.” “The social key influencers framework plays a leading role in driving online shopping and purchasing behaviour and this has contributed to the rise of this business model in other Asian markets. Companies such as Mogujie and Meilishuo in China, which have a combined value of three billion dollar, have had great success in this area,'added Mr Goh. Prior partner integrations include those launched last month with a new Android mobile client - match-3 puzzle game Gone Goose, Meitu’s beauty apps BeautyPlus and MakeUpPlus, and couples sharing app. To expand the platform’s reach into key markets, migme is partnering with a growing list of artists, entertainers and key influencers via alive not dead. UNI RN CJ RJ 1431

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