Yotpo has been a pioneer company when it comes to social reviews for ecommerce websites. The company had launched a funding round to raise enough capital to take a step forth and has been able to secure $1.5 million.
Yotpo has attracted acclaim all around the web for launching the unique idea of social reviews. The web, as we know it, is currently plagued with a huge amount of fake reviews which are meant to give a false impression of a given product or service.
Yotpo pioneered the idea of providing peer-based reviews, in an environment much like Facebook, which enables people to verify the authenticity of such reviews and trust them. Over time, the company hopes, social reviews will be ‘the’ way to gauge a product’s pros and cons.
A significant number of ecommerce websites are already making use of Yotpo’s social review solutions. And in light of that, it doesn’t come as a surprise that it was able to raise $1.5 million with ease at the recent round of funding.
According to the company’s CEO and co-founder Tomer Tagrin, “With our plug and play integration with Magento, Bcommerce, Shopify, Volusion and 3dCart, we are on the path of becoming the de facto social review solution for every SMB e-commerce site. We are taking the lead for making it possible for every website owner to generate social reviews.”
Tagrin hopes that by the year 2013, Yotpo would be instrumental in weeding out the problem of fake reviews by making social reviews the chief source of user feedback.