Bliss, an Israeli social selling platform, has secured $1 million in pre-seed financing led by Global Founders Capital (GFC). The round should wrap up in the next few weeks.
Founded a few months ago by Tal Adler (CEO) and Ori Magen (CRO), the Tel Aviv startup is cashing in on the social e-commerce trend, wherein individuals and small businesses can generate income on social media by promoting and selling products from other brands.
Bliss wants to connect these middlemen with brands and manufacturers, and also with a base of buyers. To that end, the company is creating sales and promotion tools, specifically making it easier to resell via mobile chat apps such as Facebook Messenger and WhatsApp. The business model combines a SaaS subscription and a small commission for each closed deal.
“By 2020, global social commerce sales are expected to surpass $720 billion, representing 17 percent of global e-commerce sales,” said GFC partner David Citron. “Similar to the 2008 financial crisis, which served as a catalyst for the proliferation of the sharing economy and the future of work models with tech giants such as Shopify, Uber, and Airbnb, we believe that the current unfortunate crisis will further accelerate this trend.”