Cutouts


Japan's Mercari is an Amazon copycat targeting the US    

written by Julian Littler (2016-11-04). added 9 months ago by @icyflame ARCHIVES

mercari startups japan silicon-valley    

In just three years, the flea market app has raised 12.6 billion yen ($122 million based on Nov. 3 exchange rates) in funding, grown to 35 million downloads and now generates monthly sales of 10 billion yen ($97 million) and became a unicorn. Since becoming a unicorn, downloads of the start-up's app have increased from 30 million to 35 million in Japan. Mercari, which also has offices in the U.S and the U.K., has seen U.S. downloads jump to 20 million, doubling since March. The start-up says it is focusing on the No. 1 economy, where it has been charging 10 percent commissions on sold items since Oct. 19. A Mercari spokesperson said its U.S. earnings have risen sixfold since 2015, though it declined to be more specific.

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