What is Fakespot?
Fakespot is a technology company dedicated to improving the online shopping experience by providing tools that identify fake reviews and counterfeit products. Through browser extensions and a mobile application, Fakespot empowers over one million users to make more informed purchasing decisions on major e-commerce platforms like Amazon, eBay, and Walmart. The company's core mission is to protect consumers from fraudulent sellers and misleading product feedback, thereby fostering a more secure and transparent digital marketplace. Despite its operational cessation planned for July 1, 2025, Fakespot has built a significant user base by consistently helping shoppers avoid scams and discover better value.
How much funding has Fakespot raised?
Fakespot has raised a total of $4M across 1 funding round:
Series A
$4M
Series A (2020): $4M with participation from Graph Ventures, Ty Shay, Faith Capital Holdings, Bullpen Capital, and 500.com
Key Investors in Fakespot
Graph Ventures
Graph Ventures is an early-stage investment fund founded by entrepreneurs for entrepreneurs, focusing on supporting startups from their inception. Since 2011, they have invested in over 300 teams, with a commitment to diversity, as 70% of their portfolio includes at least one woman or BIPOC founder. The firm offers extensive support in fundraising, growth strategies, and product development, leveraging their experience in scaling companies internationally.
Bullpen Capital
Bullpen Capital is a venture capital fund that specializes in investing post-seed capital into early-stage companies. Over the past decade, the firm has funded more than 100 companies that have identified a special product-market fit but are often overlooked. Bullpen focuses on helping these businesses grow and thrive, aiming to build the next generation of successful enterprises.
500.com
500.com Limited (NYSE: WBAI) is a leading online sports lottery service provider in China. The Company offers a comprehensive and integrated suite of online lottery services, information, user tools and virtual community venues to its users. 500.com was among the first companies to provide online lottery services in China, and is one of two entities that have been approved by the Ministry of Finance to provide online lottery sales services on behalf of the China Sports Lottery Administration Center.
What's next for Fakespot?
The recent major strategic investment in Fakespot suggests a focus on scaling its operations and potentially expanding its technological capabilities to further combat sophisticated online deception tactics. Given the company's stated operational end date, this capital infusion may be directed towards a final phase of development, user transition, or a strategic acquisition. The enterprise-level funding indicates a mature stage for the company, likely aimed at maximizing its impact and legacy in the fight against e-commerce fraud before its planned cessation.
See full Fakespot company page
