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Rocket Internet Backed PricePanda Launches India Operations – StartupCentral

sc-largeIndian price comparison sites PriceBaba and MySmartPrice just got themselves some formidable competition. Rocket Internet backed PricePanda, which raised $3 million from Tengelmann Group, Rocket Internet and AB Kinnevik in January, is announcing its entry into the Indian market. The local version of the price comparison engine, which currently offers prices for mobile phones, computers and cameras, is now live.

“In 2012 the number of Indian retailers opening an online shop rocketed from 100 up to 600 and is tremendously growing since. Now it is our task to guide our users through the different offers to the deal that best suits their needs. At the same time, our platform empowers ecommerce businesses with helping them to convert their offerings into sales. We are really optimistic about this launch because ecommerce in India is currently booming similar to how it was in Malaysia where we first operated in 2012,” PricePanda co-founder Christian Schiller said in a statement.

The India launch follows PricePanda’s rapid expansion in eight countries in South East Asia and Latin America throug 2012 and 2013. The site will offers users products from several categories including computers, software, health and beauty, home appliances, music and games. Customers can compare different deals for the requested products in order to make informed purchasing decisions. Clicking on a deal will redirect the user to the merchant’s online shop where the product can be ordered.

Founded in 2012 by by Christian Schiller and Louis Iskandar, PricePanda enables shoppers to find and compare more than 70,000 products from over 100 categories such as computers, software, health and beauty, home appliances, gaming, music and movies. Apart from India, the other eight countries include Argentina, Colombia, India, Indonesia, Malaysia, Mexico , Singapore, Thailand and the Philippines.

Meanwhile, Mumbai based PriceBaba, which launched operations in August 2011, is also in rapid expansion mode. In January, co-founder Annkur Agarwal told us that company was in the market to raise $3 million for its Series A round. The company has so far raised $100,000 over one angel round and two seed rounds from 500 Startups. It plans grow to three million users per month, four product categories and a presence in 20 cities by the end of 2014.

Over in Hyderabad, MySmartPrice raised Rs 6 crore (under $1 million) in its Series A round from existing investors Helion Venture Partners and Accel Partners. The company was founded in 2010 by Sitakanta Ray and Sulakshan Kumar and is deploying the fresh round of funding to expand into more categories and develop its mobile platform.

The original post was published here

(c) StartupCentral

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