London-based ecommerce solutions business Shopa has ceased trading just six months after raising $11m (£7m) in funding.
The social media site allowed users to ‘like’ and follow brands including Paul Smith, Marni and Stella McCartney and specific product categories, which were then compiled into a personalised, shoppable feed.
Shopa was founded in 2012 as a business-to-business platform, which retailers could add to their ecommerce site. In February 2015, it raised $11m (£7m) in a Series A funding round from Octopus Investments and Notion Capital, allowing it to launch a consumer-facing platform.
However, today (August 26), the firm sent an email to brands and customers saying it had “closed its doors” for good.
The statement read: “We are unable to continue to operate and it is with much regret and personal sadness that we have now closed our doors. Any purchases that you are still waiting for will be sent to you directly from the brand and you can still return any unwanted purchases as normal.”
Shopa, based on London’s Farringdon Road, had 32 staff members. Chief executive Peter Janes has reportedly already left the business.