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Summary:

Want to leave a comment on Facebook and turn that into a purchase? Soldsie lets you buy through comments and announced Tuesday that it’s now processed $10 million in transactions so far.

Soldsie screenshot Facebook comment purchases

Soldsie, one of the several companies that is trying to figure out how to process payments on top of social media platforms, is announcing Wednesday that it has processed more than $10 million in transactions through its service that lets you buy things in Facebook comments. Additionally, the company is announcing that it will be adding several foreign currencies to its offerings to expand its markets.

Soldsie screenshot Facebook comment purchasesThere are several companies now that do a variation on the same concept: They allow you to purchase items on Facebook by leaving a comment, or on Twitter by sending a tweet. The companies attempt to capture a buyer’s attention when they’re in the moment on social media, and they typically involve an off-site sign-up process to get started.

Soldsie in particular targets Facebook comments, but there are other similar companies including Chirpify, which is on even more platforms, and Ribbon, the company that was shut down after improperly trying to use Twitter cards for the same idea.

Soldsie was launched in September 2012, and raised a seed round of about $1 million in March.

The company will be adding new currencies including the Australian Dollar, the Canadian Dollar, the Brazilian Real, the Euro, the Taiwanese New Dollar, and the British Pound.

It’s an interesting time to be in the payments world, with a number of startups trying to challenge the traditional credit card payments that dominated online commerce for so long. You have Stripe optimizing payments for services like Airbnb or Lyft, and Square re-imagining the cash register for small businesses and working with giants like Starbucks.

CEO and co-founder Chris Bennett told me that they’ve seen huge adoption, particularly among women buying and selling clothes and accesories, and particularly in Texas, of all places. But they’ve also seen singificant international adoption, and adding the new currencies will help them expand there.

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  1. Big correction for this story. Soldsie requires MUCH MORE than just a comment to enable a payment. You have to leave Facebook, check your email, then find a receipt, then go to Soldsie to provide a payment type. And I see nothing contradicting that you have to do this every time you make a purchase. I wanted to try it out and here’s the email I got from them explaining how they work:

    How shopping works:
    1. Comment “Sold” on items you’d like to purchase from our Facebook page
    2. Receive an invoice by email to pay for the item
    3. Check out when you’re ready, and we’ll ship the order to your door!

    To view all of your current and previous orders, just visit the shopping tab on our Facebook page. Thanks!

    – Soldsie

  2. Sandra Miller Thursday, July 18, 2013

    Actually that isn’t always the case Queenanneman. I operate a Soldsie store and from my experience, most of the sellers have a tab on their Facebook page where you can “register and pay”. The customer/commenter” does not need to leave the sellers page even to pay the invoice, as long as they have pre registered with Soldsie (a one time action).

    If the seller has opted for auto generation of Invoices at the moment of sale, there is no waiting for your invoice to appear at that tab. Just click and pay.

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