Another day, and another social ecommerce solution is in the news. Digital marketing and advertising service provider Atrinsic has acquired Shopit, an ecommerce platform that enables buyers and sellers to complete transactions on social network sites like Facebook and MySpace.
Earlier versions of the application have been downloaded nearly 800,000 times, demonstrating both the application's ability to engage audiences and what seems to be an overall need in the social media environment for such solutions.
"This acquisition fits perfectly with Atrinsic's continuing transformation into a cross-platform digital content and marketing services network," said Burton Katz, CEO of Atrinsic. "Our ability to cost-effectively drive a larger audience conducting commerce within the ShopIt social media application, employ a toolbar product providing constant presence on the user's desktop, and develop a ShopIt mobile application to be introduced during the second half of the year aims to catapult us into both the social and mobile commerce markets with blazing speed."
ShopIt will be releasing a new version of the application that according to the company will make it easier for sellers to establish storefronts and provide tools for storefront management, merchandising, payments and shipping, as well as tools that enable sellers to import existing listings from ecommerce sites like eBay and Yahoo Stores. The new application will also be accessible through mobile devices.