Hypd Store has raised pre-seed funding from ScoopWhoop. Hypd plans to leverage the huge fan base of ScoopWhoop for the growth of Hypd, which is a unique content-driven e-commerce platform.
Future of Hypd and Content-Based E-com Platforms
Time is gone when social media platforms were limited to friends and family purposes. This sector has evolved a lot with business-oriented features. E-commerce businesses have hijacked these platforms for advertisements and selling purposes.
These platforms are no more attractive. They force their ideas on the users through nagging follow up. Users’ experience has changed over these platforms.
Here comes the Saviour – HYPD Store, a content-based commerce platform. It believes in content first methodology. Through a unique idea of edutainment, it provides product discovery. For brands and buyers both, it’s a wholesome experience.
Interaction between buyers and sellers seem natural over it. HYPD store believes in organic reach for buyers and sellers both. This store is also a good place for creators/influencers to grow and earn money.
Creators can develop edutainment contents to woo the users. For brands, it’s an immense opportunity to leverage their reach and fame – a win-win for all involved, making sales in enormous numbers.
The timing of this investment is also perfect. India is emerging more mobile-savvy. Currently, India has 500+ million mobile users. In India, Ecomerce grew with a rate of 38.6% in the last 4 years. Content-based commerce platforms will help in approximately 20% sales in the next 5 years.
Cofounders Background and Statements about the Future of Hypd
HYPD Store began its journey in November 2020 with a beta launch. Total downloads of 20000+ and an average user review of 4.7 tell the story of initial success. 50+ brands joined the platform within a short period of time.
Ashwarya Garg, Co-Founder, HYPD is overwhelmed with the strategic investment of scoop whoop. He said that generally, companies are either content or tech-oriented. Hypd is an amalgamation of both. As human beings, we like to buy but we don’t want to be sold. Hypd unique approach makes the conversion rate 80%.
Akshay Bhatnagar, Co-Founder, Hypd says,
“While we are helping brands by maximizing returns on their content investments, we are also actively rooting for the creator economy by mapping every sale to a content inspiration and thus a creator’s cut!”
When asked about the current investment in Hypd, Sattvik Mishra, Co-founder & CEO at ScoopWhoop Media said that the future belongs to content-based shopping. Hypd is a unique store that is bridging the gap between discovery and transaction. It focuses on creators. Since Scoop whoop is a content-based tech platform. We have observed a huge untapped market for content-based shopping platforms. A seamless experience would involve a modern content platform and a discovery engine which is complemented by the option of transacting on the same platform. ScoopWhoop and Hypd are well-positioned to provide this today.
The founders of Hypd are known entrepreneurs with rich experience. They cofounded Innov8 Coworking, which was later acquired by OYO. Previously, they worked on Zostel/ZoRooms project, which raised funding from Tiger Global and Orios.
When asked about the future plans of investing the current funds, Hypd informed that the company wants to make the product better. Other than that, Hypd wants to hire enthusiast team members. They also want to accelerate the marketing activities with the current funding.