App/tech business of the week – eKarma

eKarma                    

‘Shop and do good’

What is it?              

eKarma is a social enterprise e-commerce platform enabling buyers not only to secure deals and discounts, but also donate to their favourite charity. eKarma gives away 50 per cent of its commissions to the charity selected by the shopper. eKarma’s mission is to raise funds for charities through ‘conscious consumerism’.

Founders                

Pankaj and Kim Sharma, and Neil Gibson (CTO)

QUOTE

We believe that you don’t need to be a billionaire before you start giving away to charities/causes

-Pankaj Sharma

Where?                   

eKarma.com.au website

$ invested               

Bootstrapped with founder funding so far, investment approximately $15,000 cash (excluding work hours).

Market size            

More than 250+ existing ecommerce platforms/shops have signed up with eKarma. Last year, Australians spent $16.6 billion on online purchases (a figure growing at 9 per cent per annum); this equated to 7 per cent of the total retail market. eKarma aims to create an online conscious consumer market. The company is now seeking angel funding to prepare for a national roll-out, technology upgrade and customer acquisition.

eKarma was launched March 62015 and is ranked #4 in BNiQ Startups List

http://www.businessnews.com.au/Company/eKarma