Soldsie exceeds $10M in transactions, showing there’s money in Facebook comments

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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