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Two Tap Raises $2.7M Seed Round For Its "Shopping Cart For The Entire Internet"
Two Tap, a Y Combinator-backed startup that aims to become the “shopping cart of the entire Internet,” today announced that it has raised a $2.7 million seed round from the likes of Khosla Ventures, SV Angel, former Visa CEO Joseph Saunders, Ryan Petersen, Reddit co-founder Alexis Ohanian and Posterous co-founder Gary Tan, in addition to We Funder, Transmedia Capital and Digital Garage.
The company launched earlier this year with the aim to fix mobile checkouts. To do this, it has built what it calls the first automated checkout solution that “allows consumers to buy any product from any retailer on any mobile app or website.” It currently has about 215 retailers in its inventory and the company says that it was about to raise this funding round on the back of impressive growth stats.
According to Two Tap’s own data, the company has seen a 50x growth in monthly transactions during the past six months (though its baseline was probably relatively low, so it’s best to take those numbers with a grain of salt). Two Tap also says that its solution helps publishers increase their mobile sales conversions by six to 10x, to the point where they are on par with desktop sales.
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