New Delhi: Firework, the largest short-form video platform used mostly in e-commerce, on Thursday announced that they have received an investment from Amex Ventures.
The company recently, created partnerships in the retail space including the world’s largest food and drug retailers Albertsons Companies and parent company to over 20 well-known chains including Albertsons, Safeway, and Jewel-Osco.
“With this investment, Firework will double down on its commitment to democratizing the world of e-commerce, putting control back in the hands of businesses,” said Jason Holland, President of Global Business at Firework.
According to their press release, the pandemic-accelerated, Firework has experienced 10x year-over-year growth, bringing TikTok-like interactive video experiences to a website or app. Firework provides a digital platform to businesses using short-form videos including live streaming which can be shown on websites.
According to Harshul Sanghi, Global Head of Amex Ventures said that the company invests in ideas that transform ‘the every day’ for consumers and businesses. Adding, “Firework is building the infrastructure to power next-generation digital shopping and e-commerce experiences.”
According to media reports, since the pandemic people have been looking for alternatives to find immersive experiences and information that they could enjoy before being locked up in their homes, this is where ‘Shoppertainment’ comes in. It is meant to combine e-commerce, entertainment, and consumers’ everyday lifestyle to drive engagement with interactive online events and experiences that are every bit as immersive and informational as in-person.