Game-like commerce experience becomes a hit with consumers as startup bids its way to an annual sales run-rate of $40M

PALO ALTO, Calif. – Oct. 17, 2013 – Tophatter, the rapidly-growing instant auction platform, today announces a major update to its entertaining auction marketplace with the addition of three new auction categories and a dramatically improved set of app tools and features.  Also, with a focus on a previously untapped market – international – Tophatter is poised to become “the QVC for the mobile and social era,” with an impressive $40M annual sales run-rate in its second year.

Tophatter also introduces new seller tools to make the selling process as fast and mobile as the buying process. Previously, sellers didn’t have the same freedom and mobility of putting items on the auction block, but now anyone can download the app, register, create an item listing, and schedule into a live auction all on the fly. Instead of keeping sellers confined to their PCs, push notifications tell them when their item is about to be sold so they can interact with interested buyers and answer questions in real-time.

As the company rapidly expands to serve the growing tastes of the 90-second buyer, Tophatter is now launching three new auction categories to complement its existing areas of Jewelry, Home Décor, Accessories, and Fashion.

Offering a range of products, the new Electronics Room features tech gadgets and accessories from brands like Kindle, Beats by Dre, and iHome. The Beauty Room boasts mid to high-end cosmetics and skincare products showcasing brands like MAC, Clinique, Lancôme, and Urban Decay. The third new category, the Edibles Room, sells banana bread granola from NatureBox, as well as artisanal goods like huckleberry jam, red velvet caramels, and peanut butter fudge.

“We’re blown away by the traction and loyalty we’ve seen from our users,” says co-founder and CTO Chris Estreich. “I think Tophatter hits squarely at the intersection of two really exciting spaces – mobile shopping and gaming – and we’re happy to offer more categories for our buyers and sellers.”

Over the past 12 months, Tophatter has seen exponential growth with the company’s expansion from desktop to mobile, which saw sales numbers increase from approximately $200,000 per month to more than $100,000 per day. The company credits this growth to its strong, highly social community, complemented by the addictive game-like nature of the 90-second win-or-lose auction format. Users can set alerts for items of interest, and push notifications are sent across Apple devices so buyers never miss out on an auction. 

Along with new categories and tools, the company announces the launch of international support and currency exchange in Canada, which hints at the company’s global vision and potential for further growth.

To learn more about Tophatter, their latest tools, features, and categories, or to sign up for the app, visit www.tophatter.com. 

About Tophatter

Tophatter is the world’s most entertaining live marketplace. Tophatter conducts live online auctions every day, where buyers and sellers can interact, chat and transact in a wide variety of categories. Tophatter is based in Palo Alto, CA and backed by leading venture capital firms.

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