Woolworths To Launch Online Market Place After Investing In Start-Up Marketplacer

FILE PHOTO: Shoppers walk into a Woolworths supermarket in Sydney, Australia August 22, 2017. REUTERS/Jason Reed
B&T Magazine
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Woolworths has invested in Marketplacer, a Melbourne-based start-up, to launch a new online market platform.

It will be called ‘Everyday Market’, and will include a range of Big W clothing and homewares products.

The multi-million dollar investment was made by W23, the brand’s venture capital arm. Marketplacer, which was founded in 2016, has helped brands such as Surfstitch, Nokia and Myer to launch their own online platforms.

By entering the online marketplace space, Woolies will be competing with industry giants like Amazon and eBay.

According to Insider Retail, Jason Wyatt, Marketplacer’s co-founder, said that “this deeply collaborative partnership will see our team and technology drive a monumental digital transformation moment for the brand.”

The brand also recently increased its stake in data analytics company Quantium.

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