Russian-born social commerce player raises millions in U.S.
25 May '20
Ecwid, a leading provider of social commerce solutions for small businesses, secured $42m from Morgan Stanley and PeakSpan Capital, EWDN reported.
Using 54 languages to serve 1.5 million businesses across the world, Ecwid has made a long way since it was born in Ulyanovsk, 720 km east of Moscow, 10 years ago.
Now headquartered in San Diego, California, the company helps businesses sell via Facebook, Instagram, Amazon, eBay, Google, Wix, Square and other platforms. It also supports SEO and marketing campaigns via Google advertising, Facebook advertising, and more.
Since offline merchants can use these solutions to start selling online, Ecwid saw its transaction volume jump by 50% between March and April as the coronavirus stroke the world.
Currently and through the end of 2020, Ecwid offers its premium e-commerce tools for free to support small businesses affected by the pandemic.