Itugo
Itugo, a social shopping platform.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor | €0.0 | round |
| N/A | N/A | - | |
| Total Funding | 000k | ||
| USD | 2021 | 2022 |
|---|---|---|
| Revenues | 0000 | 0000 |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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Itugo, known in Chinese as 爱图购, was a venture-backed startup that operated within China's burgeoning social commerce landscape. Founded in 2012 and based in Hangzhou, the company positioned itself as an online social shopping platform with a specific focus on fashion products for women.
The core of Itugo's business model was to function as a brand-oriented guide for shoppers. It aggregated fashion-related images and content from across the internet and connected them with purchasing links, allowing users to discover and buy items they found appealing. This approach sought to merge content discovery with e-commerce, a model that saw significant traction in China. The platform not only facilitated purchases but also built a community layer where users could share their shopping experiences and fashion finds, adding a social validation component to the retail process. In addition to its primary website, the company developed a mobile application called "IN," a picture-based social product where users could add brand and location tags to their photos, further integrating social interaction with brand discovery.
The company successfully attracted institutional capital to fuel its growth. Itugo completed three funding rounds, securing a total of $11.6 million. A pivotal moment in its history was the Series A financing round on August 27, 2014, when it raised $10 million from prominent investors including Matrix Partners China and Yingdong Capital. This investment was intended to enhance the "IN" mobile application and improve the user experience and social features. Despite this significant backing and a user base that reportedly reached 15 million, Itugo eventually ceased operations and is now considered a deadpooled company, facing stiff competition in a crowded market from players like Xiaohongshu and Meilishuo.
Keywords: Itugo, 爱图购, social commerce, fashion e-commerce, Hangzhou startup, online shopping platform, brand discovery, social shopping, Matrix Partners China, Yingdong Capital, IN mobile app, deadpooled, Chinese e-commerce, fashion discovery, visual commerce, community shopping, content commerce, female consumers, startup failure, e-commerce China