Social Life Network Inc (OTCQB:WDLF) announced Monday a major upgrade to its e-commerce social platform for the HuntPost.com hunting and fishing community on January 1.
In competition with retailers like Cabela's and Bass Pro Shop, HuntPost.com empowers the millions of small merchants that depend on industry trade shows to sell their goods, with an e-commerce driven social network to compete with big-box retailers who won't carry their products because they're too small to scale.
"The same way Etsy.com enabled artisans to create value from their trade, HuntPost will empower sportsmen to sell via their goods and services on our upgraded platform," said Ken Tapp, CEO of Social Life Network, in a statement.
READ: Social Life Network is the Facebook for niche industries, drawing 3 million users to its platforms
"Etsy, who trades on NASDAQ, has a market cap of $5.2 billion, and services a much smaller audience of vendors and merchants than our hunting and fishing industry. This is why we've spent all of 2019 working on major upgrades for the platform in order to support HuntPost's efforts in rapidly growing their online retail audience in 2020."
Tapp noted that HuntPost is planning a Regulation A Tier 2 offering to raise up to $50 million in 2020 to support their retailers, and to focus on trade show M&A.
"As a major licensee of our platform, they will continue to have our full support," he said.
According to Statista market research, retail e-commerce sales worldwide amounted to $3.53 trillion in 2019 and e-retail revenues are projected to grow to $6.54 trillion in 2022.
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