Price comparison and product review site Reviews42 has raised $5 million in an investment led by Tiger Global with participation from existing investors Nirvana Venture Advisors and Blume Ventures, reports Livemint.
The company had previously raised an undisclosed amount of investment from investors like Nirvana Ventures Advisors, Blume Ventures, Canaan India MD Rahul Khanna and Flipkart co-founders Sachin and Binny Bansal in April last year. It had also raised investment from Blume Ventures and VentureEast in June 2012.
Reviews42 plans to use the investment raised to expand its presence to Bangalore, Hyderabad, Chennai and Mumbai, improve its product and build its team.
The company is currently live in Delhi-NCR region and claims to have nearly 1,000 retailers on board. Bangalore is expected to go live next month followed by Hyderabad and Chennai.
Rebranding to Zopper
Reviews42 co-founders Neeraj Jain and Surjendu Kulia told the publication that they are also rebranding the company as Zopper as it plans to expand beyond product reviews. At the time of writing this article, we noticed that the company is already redirecting users to Zopper.com, although it is still branded as Reviews42. This will possibly change when the site is officially launched later this month.
Founded in 2011, Reviews42 provides aggregates user and expert reviews for products across various categories like mobile phones, computers, health & beauty products, home & kitchen appliances, books, apparel, electronics, footwear and lifestyle products among others. It also provides price comparison for these products from both online stores like Flipkart, Amazon, Snapdeal, HomeShop18, Myntra and Jabong among others and offline stores in Delhi-NCR region.
This service is available on the web and on mobile apps across iOS, Android, Windows Phone 8 and BlackBerry. The company claims that 60% of its traffic comes from mobile phones.
Other players in this space include Helion Venture Partners & Accel Partners backed MySmartPrice, FindYogi, Network18’s CompareIndia, Buyt.in, CompareRaja, PriceDekho, Scandid, BuyingIQ and Rocket Internet-backed PricePanda among others.
There is also 500 Startups-backed Pricebaba which provides price comparison for mobile handsets from offline retailers in nine cities. That being said, price comparison site BearShop had shut shop earlier in February this year, after two years of operations.