Companies

Local brand platform Little Black Book raises $5 million in Series A funding

Sangeetha Chengappa Bengaluru | Updated on April 03, 2019 Published on April 03, 2019

Suchita Salwan, Co-founder, LBB

Little Black Book (LBB), a platform to find and shop from local brands and businesses, has raised $5 million in Series A led by Inventus India and IAN Fund. Japanese investors Dream Incubator and Akatsuki Entertainment Technology (AET) Fund and existing investors Blume Ventures and Chiratae Ventures also participated in the round.

The funds will be used to expand the tech and product team with a focus on machine learning for discovery and integration of content.

A web and app based platform, LBB started off as a content and discovery platform for places, services, restaurants, events, weekend getaways, fashion and activities.

Recently, commerce was launched on the platform, which reaches over three million users a month; users are connected to 60,000 local brands and businesses across eight markets including Delhi, NCR, Mumbai, Bengaluru, Pune, Kolkata, Hyderabad and Chennai. The LBB app has seen 6,00,000 downloads.

“We are seeing a 30 per cent month-on-month growth in products sold through LBB, since we launched commerce four months ago. Ninety-five per cent of the local merchants on LBB do not sell on other marketplaces like Amazon, or Flipkart... 60 per cent of the active users log 30 sessions per user per month,” Suchita Salwan, co-founder of LBB told BusinessLine.

Nearly 70 per cent of the content, information and reviews on LBB is generated by its users. Of the 700-900 posts created, only half that are curated by LBB are retained on the platform. Co-founded by Suchita Salwan and Dhruv Mathur, LBB has raised $7.5 million till date.

Rutvik Doshi, Managing Director, Inventus India, said, “What attracted us most to LBB is how they’ve made community a continued narrative in their promise to make local brands and businesses more accessible. They have demonstrated their ability in building a platform that consumers love, while also building a robust monetisation model that’s powered their growth.”

Published on April 03, 2019

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.