Online marketplace All By Mama announced on Thursday it has decided to extend its equity crowdfunding campaign on Crowdcube. The campaign was launched last month, seeking £75,000 and so far it has attracted more than £72,000 from nearly 175 investors.
As previously reported, All By Mama launched 2014 by Gemma Whates and has featured more than 2,000 products on its platform and currently has over 200 sellers. The company stated it spent the past two years testing its concept and building its seller/consumer base. It has also built an engage social audience and database of 30,000 people. It was revealed:
“There are currently c.300,000 Mumpreneurs in the UK alone, who are currently contributing £7.4bn to the economy each year. We believe we are the first marketplace to champion parent-run businesses and are passionate about supporting mums who run their business flexibly around family life.”
All By Mama has also been featured in various publications, including The Evening Standard and Cosmopolitan magazine. It has also received awards such as Pantene’s #SHINESTRONG Business Award judged by Baroness Karren Brady, and Jacqueline Gold’s #WOW Award. The All By Mama team stated it received inquiries from Australian, American, and South African sellers and customers for international expansion.
During a recent update, the All About Mama team stated they extended the campaign for another week. If the funding target is met, the company plans to use the funds for marketing, along with growing its seller and customer base. The company went on to add:
“We are looking to introduce two additional revenue streams: one in the short term – a bespoke product upload service for those parents who need support to upload their products, and one a little further in the future – a start-up service for parents that are at idea generation stage and need help to get their business established and selling on our marketplace platform.”
The campaign is set to close on December 30th.
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