Pricebook Announced Funding from Global Brain Corporation, IMJ Investment Partners, and Hiro Mashita
Pricebook price comparison service has just sealed an undisclosed funding from three investors, namely Japan-based Global Brain Corporation, Singapore-based IMJ Investment Partners, and Singapore-based m&s’ Founder and Director Hiro Mashita. The funding is aimed to accelerate Pricebook’s business growth on becoming top price comparison service in Indonesia.
The funding would be Pricebook’s second after the funding from Incubate Fund which was nabbed as it's founded in Indonesia. The main target of this Tomonori Tsuji-founded service is indeed to be the best price comparison platform in Indonesia.
Further, the investment will be allocated to the acceleration of marketing strategy to enable the service being a price comparison platform for both stores (online/offline) and customers. Unlike other price comparison platforms which start expanding to various segments, Pricebook stands still on consumer electronics segment.
The team is also planned to get expanded in order to accelerate partner acquisition. Pricebook will be available in mobile app version in the near future to make it more accessible for Indonesians. Three months ago, Pricebook claimed that its conversion rate through mobile devices went 300% higher after its mobile-optimized website was launched. This strengthened the fact that people access content easier through mobile devices.
Tomonori Tsuji stated in his press release, “We also provide product specification, product reviews, and price from both online and offline stores to ensure our Indonesian consumers’ satisfaction.”
Of course the goal is not piece of cake. According to Nusaresearch’s survey on the popularity of price comparison platforms in Indonesia, Pricebook was ranked eighth out of 10 services being researched. The service has to admit the superiority of PriceArea, Telunjuk, or Rocket Internet’s PricePanda which has just consolidated with GetPrice.