Malaysia: AVG-backed marketplace aggregator iprice signs up 100 merchants in 7 Asian markets

iprice website

Asia Venture Group-backed (AVG) online retail aggregator iprice group announced that it has passed the 100 merchant signup mark, making it Southeast Asia’s largest merchant affiliate network.

iprice is a one-stop product marketplace aggregator that allows consumers to easily find any product online. The products are aggregated from partner e-commerce merchants in the region. The platform is in seven markets now – Malaysia, Indonesia, Singapore, Vietnam, Thailand, Philippines and Hong Kong.

Sales and business development vice president Sandeep Raj said, the group was on track to hitting its year-end target of having 200 merchants signed up. This first milestone is attributed to the group’s continued cooperation with merchants from around the region.

“The iprice merchant ecosystem significantly increases the web traffic and sales potential of e-commerce sites and retailers of all sizes,” Raj said in a statement.

“Crossing this milestone in four months puts us well on track to achieve our goal of growing the network to 200 merchants. iprice has, to date, driven over two million US dollars in sales for its partners, and generates over a million page views every month.”

The site now records 500,000 page sessions per month across the seven markets. In the region, a closest comparison would be Thailand-based price comparison site PricezaSet up in 2010, Priceza has an active user base of 5.2 million, according to its website.

However, iprice marketing manager Jessica Wong told DEALSTREETASIA that it is not directly competing with other price comparison platforms like Priceza, or Berlin-founded PricePanda, as iprice focuses on product discovery. It not only aggregates marketplaces, but also “offers exclusive deals via our coupons page to help consumers save big”.

She added that the metrics used to track growth in iprice differed from the price comparison sites: “We don’t track in terms of active users, as consumers do not purchase products through us. It’s more of reach for us, therefore we have half a million page impressions per month.”

iprice gives customers across the region access to an aggregated inventory of over 8 million products, and processes more than 1000 money-saving coupon redemptions a day. All coupons are 100 per cent verified and are updated on a daily basis, its statement read.

AVG managing director Kai Kux noted the regional opportunities iprice can bank on.

“Partnering with 100 merchants within a very short timeframe of only four months demonstrates the massive potential of e-commerce in Southeast Asia. iprice is perfectly positioned to gain from significant growth and become a cornerstone of the developing ecosystem,” Kux told DEALSTREETASIA.

A merchant signed up with iprice, Hermo, said it has seen traffic grown with the affiliation, as iprice ensures attractive deals on Hermo gets sufficient exposure. Hermo is a Malaysian-based cosmetics and beauty product e-commerce portal which, just last week, received a Series A funding from Gobi Partners.

“Since we have signed up as an iprice partner, we’ve received a high volume of quality traffic. This has made a tremendous impact on our sales figures,” Hermo founder and CEO Ian Chua said in the statement.

iprice, whose chief technology officer is former Microsoft product manager Heinrich Wendel, secured a $550,000 seed funding from Asia Venture Group in May this year.

Also read:

E-commerce biz iprice gets $550k seed funding from Asia Venture Group

Gobi Partners leads $2m Series A in Malaysian cosmetics e-commerce platform Hermo

Jakarta-based online grocery startup HappyFresh raises $12m in Series A led by Vertex, Sinar Mas

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.