Photo credit: Luke Wroblewski.
Jakarta-based price comparison site Pricebook today announced it has completed its third round of funding from two Japan-based firms. KLab Venture Partners led the round, with participation from Aucfan.
Pricebook provides information on product features, reviews, and prices across online and offline vendors. Its gadgets of choice include mobile phones, cameras, computers, and powerbanks. Meanwhile, merchants receive increased exposure and market data on their items.
The investment will go toward expansion into different product categories and major cities outside of Jakarta – namely, Surabaya and Bandung – with an eye on Southeast Asia as a whole.
The amount of funding was not disclosed, similar to the company’s funding round in March last year. Pricebook received seed funding in December 2013, when it launched in Indonesia. The site is run by Pricebook in Japan, which was founded in September 2013.
Pricebook’s online-to-offline site offers incentives for people to go buy their products from merchants’ offline stores.
Race to compare
Tomonori Tsuji, founder and CEO of Pricebook. Photo credit: Pricebook.
So, what’s changed since last year? According to founder and CEO Tomonori Tsuji, web traffic has gone up by an undisclosed rate. The site doesn’t have a corresponding app, but Tomonori reveals that 70 percent of the web traffic comes from mobile web users.
He says the company’s focus remains online-to-offline – it often gets offline shops to sign on and use the site to update their prices and stock.
The site claims to have over 1,000 offline shop partners in Jakarta, Surabaya, and Bandung, including ITC malls, a chain of electronics malls in the country.
Pricebook competes with similar sites like Priceza, a Bangkok-based site that entered Indonesia in 2013 and raised its series B round yesterday. PriceArea was acquired by South Korea’s Yello Mobile, and Rocket Internet’s PricePanda merged with Australia-headquartered GetPrice in 2015, resulting in NextCommerce.
This post Japanese investors pump money into Indonesian electronics price comparison site appeared first on Tech in Asia.
from Tech in Asia https://www.techinasia.com/pricebook-third-funding-round-indonesia-japan
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