Online printing startup Gogoprint raises $7.7m to prepare new markets
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Gogoprint, a startup that’s modernizing the printing industry, has raised US$7.7 million in series A funding to fuel its expansion into new markets like Australia, New Zealand, and South Korea in the next 12 months.
Gogoprint is an online service for printing things like business cards, flyers, and leaflets. It uses algorithms that take into account parameters such as paper type, quantity, and delivery, and then aggregates those orders into a “print-run” or a batch of prints.
This enables printers to make the most out of one printing sheet. Because each sheet carries fixed costs, maximizing it helps reduce prices and turnaround time for customers. It also allows printers to take in small orders from budget-conscious firms, instead of only focusing on large volume orders.
Printers that partner with the company are able to tap new customers, helping offset the cost of any unused capacity.
Gogoprint is active in four countries: Thailand, where it started, as well as Singapore, Malaysia, and Indonesia. In Indonesia, it faces competition from another online printing startup, Prinzio.
To date, Gogoprint has experienced a 200 percent year-on-year growth in customer base, attracting more than 45,000 customers with over 250 million products printed. Its clients include Honda, Lazada, Lion Air, Yamaha, Singapore’s Nanyang Technological University, and Booking.com.
Retail News reached out to the company for more financial details, but it declined to disclose figures.
The series A round was led by its existing backer OPG (Online Printing Group), an investor and partner of Brazil-based Printi.
Questions & Answers
Q.What is Gogoprint's primary business model and how does it benefit customers?
What is Gogoprint's primary business model and how does it benefit customers?
Gogoprint is an online service for printing business cards, flyers, and leaflets. It uses algorithms to aggregate orders into print-runs, which helps reduce prices and turnaround times by maximising printing sheet usage.
Q.Which new markets will Gogoprint be expanding into with the recent funding?
Which new markets will Gogoprint be expanding into with the recent funding?
The startup plans to expand into new markets including Australia, New Zealand, and South Korea. This expansion is scheduled to occur within the next 12 months, following the recent Series A funding round.
Q.Who led this Series A funding round for Gogoprint?
Who led this Series A funding round for Gogoprint?
The Series A funding round was led by OPG (Online Printing Group), an existing backer of Gogoprint. OPG is also an investor and partner of Printi, a company based in Brazil.
Q.How many customers does Gogoprint currently serve and what is its growth rate?
How many customers does Gogoprint currently serve and what is its growth rate?
Gogoprint has attracted over 45,000 customers to date, experiencing a 200 percent year-on-year growth in its customer base. It has also printed more than 250 million products.
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