Egyptian Startup Hoods Secures EGP 5 Million Investment From Shark Tank
Date
1/30/2025 2:05:42 PM
(MENAFN- Daily News Egypt) Egyptian e-commerce startup Hoods has secured a EGP 5 million investment from businessman Ahmed Tarek and entrepreneur Mona Ataya during its appearance on Shark Tank Egypt. The funding includes EGP 3.75 million in exchange for a 15% equity stake and an EGP 1.25 million interest-free loan for six months.
Founded by Mostafa Hanafy, Hoods is pioneering the Live Shopping concept, a rapidly growing e-commerce trend that allows consumers to purchase products instantly while watching live-streamed content. This model combines entertainment and commerce, transforming the way consumers interact with online shopping.
“We are not just building a platform for selling; we are shaping the future of e-commerce,†said Hanafy. “Consumers today want an engaging and interactive shopping experience, and Hoods bridges the gap between content creation and seamless transactions.â€
Hoods enables sellers and content creators to set up their own live shopping channels in just two minutes, offering a hassle-free alternative to social media platforms that lack built-in e-commerce tools. The platform eliminates the need for sellers to manage separate websites, payment gateways, and shipping services.
Since its launch 14 months ago, Hoods has attracted 150,000 users, processed 20,000 successful orders, and generated EGP 30 million in sales, all while keeping marketing costs low.
With ambitious plans for regional expansion, the startup aims to become the largest Live Shopping platform in the Middle East by 2026, introducing AI-driven shopping tools and new monetization models to enhance user experience and revenue generation.
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