LimeRoad is a kind of fun and exciting way to find gorgeous products, share and shop. It has extensive collection of brands and exclusive products which create our personal scrapbook which include look and ideas. We can also share our experiences with friends and family while shopping. LimeRoad also made a company to bring users products that they will love, it also give users a chance to create their own space, and show hidden talents and make personal looks and collections which help to share creations with friends to get that second opinion, to inspire or be inspired; and also help users shop in a way that they want.
Its headquarter is located at Gurgaon. In July 2014, 18 months since full-launch, LimeRoad became India’s leading discovery platform for lifestyle products with vendors and users posting 200,000+ products and show per month, 80% of which is completely unique to the platform. It has in-session engagement rates that are 3 times of other Indian websites/portals and old-school lifestyle e-commerce sites, and conversion rates, orders and revenues have doubled in the last 4 months whilst holding marketing relatively flat.
ABOUT THE FOUNDER(S)
To overcome the product discovery problem, which was a fiasco in online shopping, Suchi Mukherjee along with Prashant Malik, Manish Saxena and Ankush Mehra came up with a simplified and user friendly platform that serves the purpose efficiently.
It was an idea that turned the table and lead to a success story. Suchi Mukherjee had first met Ankush Mehra who helped her to understand the problems faced while developing and launching a startup. They were later joined by Prashant Malik and Manish Saxena.
The 45 year old Indian Businesswoman, Suchi Mukherjee holds the bachelors degree in economics and has completed her masters in Economics and Finance from London School of Economics. Her first employer was Lehman Brothers Inc in 1998. She later switched to Virgin Media, eBay, Skype, Gumtree and finally came up with the idea of Limeroad when she was on her maternity leave.
LimeRoad is a social discovery platform for women that was started by Suchi Mukherjee, Prashant Malik and Ankush Mehra. These businesses focused on simple and powerful consumer products, which has been the dream, and this has come to both at Skype, Gumtree and now most recently at LimeRoad.
LimeRoad is a digital-age equivalent of the 16th Century Grand Trunk Road, a highway that changed the face of trade in the Indian subcontinent. It is also an e-commerce portal. It show over 750 big & small brands and 25,00,000+ user generated fashion looks. At present, 20% of the world’s lifestyle products are manufactured in India, and Limeroad is on a mission to conquer this market by making its discovery easy by a socially-build approach.
The company has announced a series C fund raised by $30 million. Tiger Global Management, an existing investor, leads the new round with participation from existing investors alongside Lightspeed Venture Partners and Matrix Partners of India. Previously, Limeroad raised a $15 million series B round in May, 2014. The series C round of funding takes the total amount to over $50 million. “Over the last year, LimeRoad has been steadily nurturing a unique hyperactive community that takes products from thousands of sellers from across the country and shows users how to change, even the most basic white t-shirt into a style statement,” says a statement from the company. Limeroad also claims that the community posted more than 1.5 million style statements as “scrapbooks” last month alone, with per day postings reaching 100,000+. LimeRoad’s machine algorithms rank order and display the highest quality scrapbooks for users to find products and styles.
For Limeroad, the investors are bullish about the engagement. Lee Fixel Partner, Tiger Global said, “The uniqueness of LimeRoad lies in the passionate user base and the mission of providing an engaging platform for smaller brands to thrive”. LimeRoad is an online shopping site for women which expand its operations to the US and UK by June-July. It also plans to expand its operations in 23 countries in the coming months. It will first expand their operations in the developed markets of the US and the UK as the markets there offer very promising opportunities to them.
On investment, Mukherjee said, “We are on the look-out for funds, but are not in a hurry. We are weighing our options and will seek such offers based on these issues.”
Suchi Mukherjee, Founder & CEO said “We are revolutionizing the way lifestyle products are discovered and ultimately bought in India. Smaller unique sellers from across the country are getting discovered, women from across the country are using scrapbooks as a medium of style expression, and millions of users are getting access to highly affordable and unique style.” Commenting on the numbers, then she adds, “We grew GMV 600% in the last 12 months, thanks to our passionate users who visited our app on average more than 38 times in the last six months. As a result 80-85% of our orders come from organic traffic”. The company has not revealed any numbers when it comes to transactions since the focus seems to be on building up the community and engagement. Alexa puts Limeroad in the top 500 sites in India.
I think this is one of the best online platform to finding gorgeous products with collection of different brand products which create our personal scrapbook which include looks and ideas which we can easily share with our friends and family.