BearShop is a price comparison service that allows users to search and compare the lowest and highest price offered for a product from online stores.
Launched in January 2012 in private beta, Bearshop went officially live in October 2012. Founded by Puneet Sharma, Ankur Jai Kumar, and Praveer Bhatt, BearShop is headquartered Navi Mumbai and currently has a team size of 4 employees.
Portal: When we checked, we noticed that the website allows one to search for the best price for any specific product or select any category of their preference, similar to other price comparison services.
We feel the category functionality to be a bit redundant, since we believe there aren’t many products with similar name across different categories and products will anyway appear in search results irrespective of the category. However, we like the ability to click on any category thumbnail on the homepage and search for items in that specific category.
What’s particularly interesting about the service though, is that it allows users track pricing trends for any specific product across various eCommerce shops and find the highest and the lowest price of that product. BearShop.in competitor Pricebaba also offers a similar pricing history but it focuses on offline shops and doesn’t offer dedicated pricing history for each shop.
We noticed that BearShop also provides information on the product availability in these e-commerce shops i.e. it alerts users if the product is currently available for purchase or is out of stock. While we haven’t seen this feature in majority of the price comparison engines, we found that FindYogi offers similar availability information for a specific product. In fact, FindYogi offers more precise information like shipping time.
Besides that, users can sign up for the service and follow any specific item to get price drop alerts. The site also allows users to set their own buying price and alerts users when the product drops to that specific price, similar to stop-loss in stock trading. We tried the feature but it did not work for us at the time of writing this article. Bearshop also offers a wishlist by providing users with an option to add products in their want or have list.
Content & Monetization: Bearshop Co-founder Puneet Sharma told MediaNama that it currently aggregates data from 27 online stores and updates the price change on daily basis. Bearshop is affiliated with stores directly or through affiliate network. The stores it has affiliatedincludes Rediff, Indiatimes, Infibeam, Homeshop18, FutureBazaar, Flipkart, Snapdeal, Saholic, Yebhi, Sulekha, Indiaplaza, Adexmart, Tradus, Croma, Fosila, Zoomin, ShopClues, Landmark, and Seventymm.
Besides that, it also aggregates data from offline retailers like Mobile Store, Univercell, Vijay Sales, Next, Maniac Store, and Cost Prize and are in talks with other retailers like Talash, Airtel Shop, Mirchi Mart, kaunsa.com, Poorvika mobile, buy@brands, Samsung eStore, and Lets Shop. The company currently makes money through affiliates as of now.
BearShop competes with CompareIndia, which Network18 bought a decade ago, the Helion Venture Partners and Accel Partners backed MySmartPrice, FindYogi and iShopper*, CompareRaja, PriceDekho, ShopMania, PriceCheck, Prodsea.
Last week, Price comparison service PriceBaba had also raised an undisclosed seed investment from five investors, led by Pune based angel investor and entrepreneur Karamveer Singh. Other investors include Dinesh Tejwani of Fast Fact Computer Systems (acquired by Thomson Reuters), Aditya Mishra (Founder & CEO, SwitchMe.in), Ashutosh Rathi (Basil Partners) and Ranjeet Walunj of The Service Solutions. However, as stated earlier, Pricebaba focuses on offline shops rather than e-commerce ventures. The company claims to currently have more than 350 verified mobile phone retailers across Mumbai, Pune and Delhi-NCR and hopes to extend the service to 10 cities in 2013.
Disclosure: iShopper is owned by Vivek Pahwa, who is related to Nikhil Pahwa.