Mdada, a social commerce start-up, did their first Facebook Livestream to sell products. A year on, they can boast 500,000 Singapore dollars ($371,087) in weekly revenue, and they hit total revenue of 3.9 million Singapore dollars in just August and September of this year.The secret, according to one of its co-founders: “entertainment.”Together with co-founders Michelle Chia and Addy Lee, CEO Pornsak launched the company’s physical live streaming hub in Singapore in August 2021, the first of its kind in Southeast Asia. It boasts 11 live streaming studios and its own warehouse in the same compound.
The most expensive product Mdada has sold through a Livestream was a Rolex Daytona Green Dial worth $120,000. To date, Mdada has garnered more than 5 million Livestream views, with more than 28,000 followers. The company has grown to almost 30 employees.
Fiona Lau, co-founder of Shopline, which helps small merchants set up online commerce said that its merchant signup numbers increased 46% during the pandemic — with many of them adopting live streaming in an attempt to replicate human-to-human interaction. Citing the example of Alibaba’s Taobao Live session on Singles’ Day in 2020, which drew in more than $7 billion in transactions in its first 30 minutes, Pornsak said “this is where the future lies.