Another day, and another social e-commerce solution is in the news. Digital marketing and advertising service provider Atrinsic has acquired Shopit, an e-commerce platform that enables buyers and sellers to complete transactions on social network sites like Facebook and MySpace.
Earlier versions of the application have been downloaded nearly 800,000 times, demonstrating both the application’s ability to engage audiences and what seems to be an overall need in the social media environment for such solutions.
“This acquisition fits perfectly with Atrinsic’s continuing
transformation into a cross-platform digital content and marketing
services network,” said Burton Katz, CEO of Atrinsic. “Our ability to
cost-effectively drive a larger audience conducting commerce within the
ShopIt social media application, employ a toolbar product providing
constant presence on the user’s desktop, and develop a ShopIt mobile
application to be introduced during the second half of the year aims to
catapult us into both the social and mobile commerce markets with
ShopIt will be releasing a new version of the application that according to the company will make it easier for sellers to establish storefronts and provide tools for storefront management, merchandising, payments and shipping, as well as tools that enable sellers to import existing listings from e-commerce sites like eBay and Yahoo Stores. The new application will also be accessible through mobile devices.