Piolo Pascual and Raffy Tulfo are Just Some of the Believers of This Local Social Ecommerce Startup
Startups often look to established companies as they work to scale and expand the business. For local social ecommerce platform Resellee, the measure is Chinese giant Pinduoduo.
Five years ago, ecommerce in China was dominated by two players—JD.com and Taobao. Both are owned by Alibaba. Today, however, a third player is nipping at the heels of the two giants. According to TechinAsia, Pinduoduo is worth about $93.4 billion and has an active user base of about 585 million. It is the second-largest ecommerce platform in China. Only Alibaba is bigger.
This kind of success story is what local startup Resellee is hoping to replicate. The company, which was founded in September 2019, recently announced that it has received a $1 million (about P48 million) seed fund to fuel the growth of its local operations and push its expansion plans in the region in 2021.
Participating in the seed round were Mintech Enterprises and Hofan Capital, an investment firm that incubates and funds early stage technologically innovative projects.
DSWD Secretary Rolando Bautista (second from right) with Resellee representatives (from left) Eduardo Madrid and founder and CEO Carlos Miguel (Marc) Concio during the contract signing
“Resellee plans to deploy the proceeds of the fund on capital investments to further enhance Resellee’s product development and innovation with new app features such as group buying, AI, microfinancing, among others,” said Marc Concio, Resellee Founder and CEO. “The new features will make it easier for our resellers and merchants to earn more income. The fund will also enhance its marketing efforts and supply chain innovation, specifically in agriculture as we want to dominate the online agriculture market to help our farmers and resellers as part of our vision.”
What is Resellee
Resellee bills itself as the fastest-growing social ecommerce platform in the Philippines. Combining social media with ecommerce, Resellee allows individuals and businesses to buy and sell goods using the dropshipping model. Dropshipping is essentially a store or business selling a product to customers through a third-party supplier, which means there is no need for a formal business entity to keep said products in stock.
In Resellee’s case, users can buy and sell products to their network on social media without needing to buy the products or inventory themselves. After setting up your profile on the Resellee app, you can start adding products you would like to sell, which you will then post on social media or share to your close network of family and friends. When the product gets sold, you earn a commission.
What can you sell?
Resellee currently has thousands of products and services that users can buy and sell—from fresh produce, fruits, vegetables, prepaid load, fashion, electronics, grocery products and more.
The advantage is that the products it sells are the most affordable or lowest-priced versus other ecommerce sites and supermarkets.
How is this possible?
Resellee says it can keep the price of its merchandise low because it sources them direct from suppliers, eliminating the need for a middleman. For example, for produce like fruits and vegetables, Resellee gets them straight from farmers through partnerships with the Department of Agrarian Reform and the Magsasaka or Farmers Party List represented by Representative Argel Cabatbat.
Resellee also guarantees the highest commissions (or discounts) for Smart, Sun and Talk ‘n Text mobile prepaid load.
Because fruits, vegetables, rice, and mobile prepaid load are considered essentials, Resellee says there’s a higher chance that users will be able to sell products—and, consequently, earn—more frequently.
Who founded Resellee
Resellee traces its beginnings when founder and CEO Marc Concio lost his job while working for a huge local startup that was acquired by a foreign company. Concio had planned to set up his own business to earn income but says he had very little capital at the time, so he started doing research to find a solution.
“I found out that the Philippines had the youngest population globally with an average age of 24.7 years old, spent the most time on social media at more than four hours a day, and had the most friends as well on social media at over 700 compared with all other countries in the world,” Concio said.
It was during this time when Concio stumbled on the story of Pinduoduo and was inspired by how it managed to grow so significantly in only five years.
“Pinduoduo managed to do this by pioneering social ecommerce (vs. the traditional marketplace ecommerce model) in China through its group buy model and focusing on fruits and vegetables, which the incumbents were weak at,” he added.
The executive team of Resellee, with founder and CEO Concio in the middle
The desire to replicate the business model, as well as providing Filipinos the opportunity to use their social media connections to earn money, led to the creation of Resellee.
The platform’s tagline reflects its promise: Zero Puhunan online negosyo. Sipag lang and kailangan.
Partnerships for growth
Just over a year since it was founded, Resellee now has over 100,000 users. It has also forged partnerships with key organizations and institutions to help expand its footprint. Besides the DA, the platform was also chosen by the Department of Social Welfare and Development (DSWD) as its its official ecommerce partner under its Sustainable Livelihood Program. The company provides its platform and trains the beneficiaries of SLP to use the Resellee app and earn with zero capital.
Resellee also recently announced a partnership with Mercato Centrale, a popular food and lifestyle market to support and train vendors in transitioning to online-based food service. The partnership aims to help the food industry move on to the new normal caused by the global pandemic through technology and innovation.
Resellee has also partnered with Bounce Back PH, which currently has one million members and 58,000 merchants to help fast-track economic recovery in the country.
In addition, Resellee has tapped celebrities such as Piolo Pascual, Ara Mina, Daiana Menezes and even Raffy Tulfo, who has about 28 million followers on his social media channels, to promote Ressellee as additional livelihood to their fans and followers. The platform said it has also inked deals with religious organizations like El Shaddai and Jesus is Lord.