Social Commerce: Shopit Founder on the Plans for 2009

Shopit founder Matt Hill, who recently put together $2.5 million in a second financing round, described in a current interview the sales strategy of Shopit and the plans for 2009.

"Today, Shop It is a highly targeted e-commerce ad network that allows people for example from MySpace to sell to people on Facebook. We don’t charge any listing and transaction fees so it’s been quite appealing and we’ve grown quite a bit in the past 6 months.

We have probably about 600,000 stores in the network right now with between 5,000 and 10,000 new stores being created a day. Most of the stuff is apparel and pretty much the same goods you would find on eBay.

What are your goals for the service heading into 2009?

We’ve been a very seller centric business so far. We’ve appealed mostly to sellers, people that want to sell things and want to list their services or products. Our next phase of our development is going to be very shopping centric.

We’re releasing a new web portal, so there will be a new site coming out. We like to look at it like LinkedIn meets Yahoo stores. We’re also launching a mobile portal which will allow you to communicate with people who are shopping in your store via mobile, make offers and also perform transactions, all via the cell phone."

The complete interview at Social Networking Watch.

Related posts:

• Venture Capital: $32 Million for Like.com, $2.5 Million for Shopit.com
• In Facebook: Social Commerce is the New Black

Originally posted in German by Jochen Krisch, translated by Jason Soo.