The company mentions that the funds will primarily be used for PriceBag’s product development and marketing. It will also be used to expand its recently launched automobile site 99Cars and matrimonial site SecondShaadi.com.
Pricebag currently focuses only on the Electronics category that includes mobiles, tablets, laptops and cameras and plans to add other e-commerce categories by the end of this year.
Along with new categories, it also plans to focus more on user reviews and social profiles. Its worth noting that the site already features a News & Features section, in which it covers news, latest launches, product reviews, buying guides, product comparisons, op-ed pieces, how-to articles and tips, rumors, mobile app suggestions and reviews related to the electronics category.
-Rocket Internet-backed price comparison site PricePanda launched its India operations in April 2014. The company had raised $3 million from Tengelmann Group, earlier this year in January, and currently features product prices in mobile and electronics, and shoes, clothing and accessories categories.
-Axel Springer owned e-commerce company Visual Meta GmbH launched its fashion and lifestyle comparison shopping site ShopAlike in India, in March this year. The site is quite similar to Amazon’s price comparison site Junglee, except that it focuses only on fashion and lifestyle products, while Junglee offers comparison for other products as well.
-Incidentally, Junglee introduced the option to directly purchase from its site, earlier this year in May. It has also tied-up with Quikr to allow users to view and compare prices of second hand products listed on Quikr. The site recently added e-commerce platforms like Jabong, Myntra, Lenskart and others as sellers.
-Price comparison service MySmartPrice had raised Rs 6 crore from existing investors Accel and Helion in December 2013. Mumbai-based PriceBaba had also raised an undisclosed amount from 500 Startups’ India-focused fund 500 StartupWallah in January 2014. PriceBaba differs in one aspect from other players in this segment, as it provides users with price comparison for mobile handsets from offline retailers.
-JustDial’s Search Plus service, which went live in December 2013, also offers product discovery and price comparison service from offline vendors.
-Interestingly, Times Internet’s e-commerce venture Indiatimes Shopping also introduced a price comparison feature on its website, earlier this month.
*Disclosure: Accentium Web has been founded by Vivek Pahwa, who is MediaNama Editor Nikhil Pahwa’s cousin.