2020 saw Bambuser securing a $45 million funding, out of which $34.5 million was raised during the pandemic. However, the company’s path has not always been this straightforward. Initially, the founders had a challenging time creating a great product from a great idea. Finding a way to turn their dreams into a scalable business model seemed more difficult than expected.
So what happened that reshaped the company’s future? Two things: Ghahremani was brought on as CEO two years ago, and live video shopping has exploded in China. There was a definite interest in live video shopping and shoppertainment in the western world as well. Potential clients turned to Bambuser to make this happen. As a result, the company has quickly shifted focus and launched the first live video shopping solution in the fall of 2019.
Live video shopping is more popular than ever, and Bambuser’s success results from the combination of a timely pivot and the pandemic. “We didn’t plan for the pandemic to hit the world,” Ghahremani told TechCrunch. “We started this because we believe that this is going to be the future of retail.”
The pandemic has accelerated the business growth, with customers reporting net sales up 669% year-over-year. These numbers are promising, and we can’t wait to see what 2021 brings!