Think of Totspot as eBay with a twist, an on line consignment shop that has added a social aspect specific to parents of young children. No, it isn’t reselling children. It does help moms recycle gently-used children’s clothing so they can recoup some of the cost of replacing outgrown clothes.
This free app is impressive. Basically it is a huge database of excellent condition, second hand children’s clothing for sale by owner. Quality images enhance the on-line shopping experience. Totspot makes selection easy by sorting items according to your child’s profile as to size, sex, and style.
Whether buying or selling, Totspot makes the transaction simple. When a sale is made, Totspot emails a prepaid addressed label to the seller to use for sending the purchased item to the buyer. This conveniently eliminates mistakes in addressing the package. Sellers can offer a single item or they can bundle several pieces of clothing together for one price, grouped by size, style, or category. The purchase price is split between seller and Totspot with the original owner earning 80 percent.
The app runs on iOS devices, so you can catch a good deal from your iPhone while on the run. Totspot could be called mom-to-mom mobile retailing, but let’s not forget those single fathers who face the same challenges and could also use an outlet to recycle their rapidly growing children’s clothes.
Sellers simply take a photo of their items, upload them with a short description, then let Totspot do the work of turning the images into a quality-Pinterest-like posting.
You’ll find top brands at Totspot. Today, we found an Abercrombie sweater, Nike sneakers, a Gymboree skirt, a pair of Coach slippers, a boys Baby Gap jacket, a pair of Baby Boden overalls, Dr Martens boots, and a Ralph Lauren rain coat. All this fashion at reduced prices for clothing that hasn’t been manhandled by numerous customers in a second-hand retail store.
This is a brand new company that is already going gangbusters. It was founded by two entrepreneurs, Vijay Ramani who has an MBA from Wharton School of Business and CTO Vikrant Ramteke whose degree is from IIT Bombay in electrical engineering. Their Totspot app caught the eye and the money of several investors.
GGV Capital along with Jerry Yang (AME Cloud Ventures), 500 Startups, and QueensBridge Venture Partners put almost $2 million dollars into the company. That was at least enough to provide jars filled with peppermint cookie mix for all the Pepcom attendees and to get the fledgling company off to a great start. Hans Tung, GGC Capital managing partner, an expert in mobile commerce, joined the company as a Board Observer. The GGC Capital’ portfolio also includes Alibaba, Square, Athenahealth, for electronic medical record management, and Hotel Tonight for those last minute reservations.
Totspot is a social marketplace where members can share bargains, chat about current events that affect their family or get tips from other mothers – or fathers – on childrearing. You can follow a seller and pick up outgrown clothing as it becomes available from a family whose children are just a few sizes ahead of your own growing child.
It is easy to download the app from iTunes. The recent funding will happily help launch an Android version soon. You can start recouping expenses as suggested by Beth Engelman, founder of Mommy on a Shoestring. She estimates that most children wear about 30 percent of the clothing in their closets each year. To reduce the clutter she suggests getting rid of those unworn clothes. How better than by selling them on Totspot.