Pricebaba describes itself as a mobile phone shopping intelligence startup and has been operational since May 2012. Pricebaba aims at helping offline shoppers to get their research right before buying things. According to a recent Indian survey by Google, 70% of the offline shoppers compare products and their prices on the web before going ahead and buying it. Even though e-commerce has grown quite a bit, we do have to agree that a vast majority of Indians still shop in the traditional way despite checking for prices and comparing products online. Going after this sizable audience seems to be like sensible thing to do even though it seems to be somewhat of an operational challenge with respect to forging offline partnerships, vendor verification processes and scale.
Banking on the potential of this demographic, Pricebaba has managed to raise an undisclosed amount of seed funding from multiple investors. The round was lead by angel and entrepreneur Karamveer Singh with Dinesh Tejwani (Fast Fact Computer Systems), Aditya Mishra (Founder of SwitchMe.in) and Ranjeet Walunj of TSS Service solutions.
Annkur P Agarwal, co-founder at PriceBaba spoke about the funding.
“We love the fact that all our investors are entrepreneurs and the support we receive in every aspect of our business is invaluable. Karamveer is simply the best we could have asked for product and marketing advice, while Tejwaniji is a veteran entrepreneur who brings an ocean of experience when working with retail partners. We intend to use the funds for strengthening the team and further developing the product.”
They are currently focusing on mobile purely because of the fact that this online search+offline buying behavior is dominated by mobile phone shoppers. Pricebaba currently operates in Mumbai, Pune & Delhi NCR and has 350 verified mobile phone retailers on the platform. The stores are carefully verified with an online verification process in addition to personal visit by the Pricebaba team. The seed money will be used to fund their expansion to 10 cities by the end of this year.
On a side note, the startup is also campaigning to get the next version of Android named after the Indian sweet dish Kaju Katli. They have even sent a package of sweets to Larry Page and Sergey Brin. I think they make a compelling case! You can read more about their effort here.
Website | Pricebaba