Instamojo

Instamojo Inc. is a web-based Indian startup founded in 2012 by Aditya Sengupta, Akash Gehani, Harshad Sharma and Sampad Swain. It is based out of Bangalore, India.^[3][4] It primarily provides customers a platform to sell digital goods like ebooks, reports, comic books, music, software, templates, photos, tutorials etc. by listing the item on the website and sharing the web link with others. As per reports the company has over 4,300 sellers.^[5] Swain, co-founder at the startup said he got the idea for Instamojo when he started a newsletter containing video interviews of entrepreneurs.^[6] The company was selected in the fifth batch of 500 Startups in October 2012 ^[7] and has received funding from angel investors like Rajan Anandan and Sunil Kalra.^[8] Instamojo pays the seller 95 percent of every successful transaction for digital goods and 98 percent of every successful transaction for physical goods and products not hosted on their servers.^[9]

Previously been backed by angel investors such as Rajan Anandan, Sunil Kalra, and Dave McClure,^[10] Instamojo secured $500,000 in 3 rounds from 8 investors of which the most recent one was the Series A funding on November 13, 2014.^[11] The amount of which however remained undisclosed.

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