Stardom Ventures led the $3 million seed funding round for Tel Aviv-based social network Tedooo, which targets the business community. Through relationships between vendors and buyers, the site aims to promote and build global trade networks. The DIY and handcrafted goods sectors in English-speaking nations are Tedooo’s current primary emphasis.
When CEO and co-founder Michelle Apelker traveled to numerous nations in 2020 to keep track of brands and establish partnerships, she amassed thousands of business cards. In order to keep track of the enormous number of businesses she was developing connections with, she made a simple app for herself.
The software was created to enable her to request images of new products from businesses and make direct purchases from them. She collaborated on the app’s development alongside her brother, Mor Apelker, co-founder and CTO of Tedooo, who has ten years of programming expertise.
People began asking Michelle for access to the app, despite the fact that it wasn’t publicly available on the app store, according to Michelle. The two decided to create a business around the platform after getting feedback on their experiment. More than 100,000 people in more than 150 countries are currently registered on Tedooo.
The business claims that it gains thousands of new organic users each week and intends to employ marketing to expand growth.
In an interview, Michelle stated, “We are developing quickly. We had about 100 individuals join up per day a month ago. We now add between 300 and 500 new registrants every day. Given how quickly things are evolving, we think this organic traction demonstrates Tedooo’s potential as a platform.
You may search for and follow interested craftsmen when visiting Tedooo. You may message them directly to make a purchase after viewing their catalogue, pricing, and new products. Some Tedooo vendors allow direct purchases by linking their Tedooo profile to their website and Etsy store.
There is a specific location where sellers may manage orders and bids from buyers. According to Michelle, customers cannot now use Tedooo to finish the payment process, but the business intends to develop a system that accepts in-app purchases.
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