WinBuyer, the leader in the growing market for Onsite Comparative Pricing (OCP) applications announced today the completion of a $6.9 Million first round investment led by Pitango Venture Capital alongside Giza Venture Capital. WinBuyer\'s OCP solution accelerates consumer purchasing behavior and maximizes income for online retailers by enabling price comparisons at the point of sale: merchants\' product pages.
With the investment, Isaac Hillel, Pitango Managing Partner and Ori Israely, Giza Managing Director, join WinBuyer\'s Board of Directors. Additionally, Dan Clarke has been appointed to the role of CEO. Mr. Clarke has previously held positions as Senior Director at Intel US, and CEO of Vcommerce, an ecommerce platform used by leading online retailers.
WinBuyer was founded in 2005 by Miki Balin and Alon Weinberg, with offices in Tel Aviv, Israel, Scottsdale, Arizona and London, England. To date, WinBuyer\'s unique technology has been implemented by more than 200 online merchants in the US and UK.
WinBuyer recently announced that Overstock.com, an ecommerce market leader, will begin offering OCP in time for the holiday season, giving their consumers the ability to make more informed buying decisions by comparing other merchant\'s product prices, prior to making a purchase, without leaving the Overstock.com site. Other marquee WinBuyer clients include: Ritz Interactive, GameQuest and Hayneedle.
\"We are very happy to have Pitango and Giza as new investors in the company,\" said Dan Clarke. \"The investment allows WinBuyer to expand its market presence within the U.S. and further into international markets, exponentially growing the solution\'s availability to online retailers.\"
\"WinBuyer\'s unique solution hits on a new dimension of the consumer\'s purchasing experience and provides added value to online merchants,\" remarked Isaac Hillel. \"We see high potential in both concept and product. We are delighted by the opportunity to work with such an experienced management team and to assist them in achieving their goals and targets.\"
Ori Israely concludes, \"We are pleased to join a group of founders with such a high level of expertise in ecommerce. We have been following the Internet sector since its beginning and have seen a growing need in the ecommerce market for more sophisticated price comparison solutions. WinBuyer has a unique technology that provides an answer to this need. We are extremely excited to be involved in this opportunity.\"
|