Shangby

Shangby is a unique e-commerce platform offering an exciting live shopping experience connecting Western customers with affordable items from China. Founded in 2006 and headquartered in Austin, Texas, and Shanghai, China, the company introduces users to "shopping events" via live video feeds from Shanghai's jewelry stores. Referred to as the "Shangbuyer," a user leads the shopping guide and video crew, focusing on specific items and negotiating prices, with sessions recorded and available for purchase on the platform. Shangby's appeal lies in substantial cost savings, with items under $1000 in the US being 5 to 10 times cheaper in China and items over $1000 being 2 to 5 times cheaper. The platform partners with reputable merchants, offering non-branded merchandise. The latest funding round of $1.00M Series A investment was secured on 01 June 2007, with participation from G51 and The Draper Richards Kaplan Foundation. Shangby charges a handling fee of 15% per purchase, along with a $30 shipping fee for orders under $400. The company operates in the E-Commerce, Fashion, Internet, Social Media, and Media industries.