Checkbox: How a social commerce platform creates opportunities for micro-entrepreneurs
Summary
"The startups value proposition is that an entrepreneur with very limited resources can start their own business at home just by focusing on marketing and reselling that also drives its growth and branding," said Mashfik. More than 300,000 Bangladeshi stores use Facebook, according to the Industrial Development Leasing Company of Bangladesh Limiteds monthly business assessment (2019). There is a possibility of reaching this number before 2026 if Checkbox and other similar platforms work as a catalyst or enabler," exclaimed Mashfik.Globally, the retail sector is undergoing a transformation owing to technologies and innovation. Online shopping and informational resources are increasingly being used by thousands of individuals, making them a vital component of contemporary trends. Around 1,600 online business owners belonged to e-Cab.Indonesias Evermos, Indias Shopsy, Meesho, and Glow Road, Vietnams Mio, and Colombias Elenas are some examples of reselling platforms around the world.Vision and fundraising: Being a part of this growing market in Bangladesh, Checkbox received its first pre-seed funding which is Tk 6.5 million (65 lakh), through angel investors in August 2022.