When the players in e-commerce rise in any country, an easy prediction in the near future is the increase in number of price comparison sites. The trend has been proven over and over again and SEA is no exception. Most of the price comparison sites operate in the local markets but there are some big players spanning across the key countries like Indonesia, Philippines, Thailand etc too like ricePrice and Rocket Internet’s PricePanda
Every country has its local players and in Thailand it is Priceza that is leading the pack. Started in late 2009 by three computer engineers, Thanawat Malabuppha, Wirod Supadul and Vachara Nivataphand, Priceza claims to have around 2.5 million active unique visitors per month.
Thanawat joined his family’s garment manufacturing business after completing his Bachelor degree in Computer Engineering. He helped his parents manage the business for a year but his heart was never in it. He never felt satisfied doing it and was always interested in starting an internet business. He started looking out for ideas to start his venture and noticed that e-commerce in Thailand was growing in 2009. Many SMEs started opening online stores. It was becoming easier than ever before to start an ecommerce website.
More and more online shops opened daily. He saw that ease of purchasing also came with the paradox of choice. Consumers were floating in a sea of similar products from Thailand’s e-commerce sites and had nowhere to go for getting the best deal. Thanawat started Priceza with Wirod and Vachara to provide useful information to help them make more informed online & offline shopping decisions.
The big challenge for Priceza is to “make potential customer pay money. We proved to our merchants that Priceza can help them sell more and more and when merchants realize the benefits of Priceza to their businesses, our job is done. Merchants pay us to list their products in Priceza in order to drive more quality sale traffic to their websites,” says Thanawat.
Currently they are a team of 17 people based out of Bangkok and have recently launched Priceza in Indonesia, in May this year, where they already have competitors like Telunkjuk and PriceArea in the market.
Priceza is currently bootstrapped and is looking for strategic investors to help them grow faster. “We want to be No.1 Price Comparison Shopping Search Engine in South-East Asia. Our market is as big as the market of Search Marketing in SEA. Our business need to be profitable. It's not that easy to raise funds without a solid business model,” shares Thanawat.
Checkout Priceza here.