Online marketplace Snapdeal has picked a stake in Smartprix Web Private Limited, the company behind online product and price comparison site, Smartprix. The deal amount is still undisclosed. Snapdeal had recently acquired Noida-based an online gift recommendation portal, Wishpicker.
“Snapdeal’s VP engineering Amitabh Misra has joined the board of Smartprix as one of the directors,” a source familiar with the deal told to VCCircle.
Smartprix was started in 2011 by IIT Delhi alumni Abhinav Choudhary and Hitesh Khandelwal with an aim to provide the better comparison shopping experience. The portal allows customers to search a product based on features, brand and price band; compares two products based on their features/price, and even buy online – through its affiliate model.
Products listed on the website offer a detailed analysis and comparison with respect to other products. Its product categories include mobile phones, tablets, laptops, camera personal care alliances, accessories, books and also plans to include newer categories. Till date, the firm has tied up with more than 50 online stores and earns commission from the affiliates for every sale.
Another e-commerce marketplace Amazon also runs a price comparison site Junglee.com, which operates in around 26 categories including electronics, computer & accessories, kitchen & home, media & gaming, baby products, and musical instruments among others. The other players also included in this space such as Zopper.com , secured USD 5 million led by Tiger Global Management LLC, PriceBag.com received USD 2 million from angel investors, MySmartPrice raised USD 1 million from Accel and Helion and YouTellMe.com recently closed USD 100,000 from Dutch early-stage fund Bright Ventures, among others.
Earlier last year Snapdeal.com had acquired Doozton.com, a social product discovery technology platform, focused on the fashion and lifestyle categories, which helps consumers discover trending products and designs from online stores across India. It had also bought online handicrafted products marketplace Shopo; sports goods etailer esportsbuy.com; Group Buying site Grabbon.
Image Source: SmartprixCategory Business Investments