ShopWiki Gets Cash Infusion, Will Launch Several New Sites
ADOTAS – Business slow this summer? Not for comparison shopping engine ShopWiki. The company has just closed a round of financing, is in the midst of redesigning its site, launching several international sites — and a new luxury vertical shopping portal.
ShopWiki’s search engine utilizes powerful crawling and extraction technology to identify the widest selection of products online. Unlike other shopping comparison sites (like shopping.com and nextag.com) that depend on inbound data feeds to populate inventories, ShopWiki’s technology actively gathers and aggregates the most recent and highest-quality data to find more offers.
While ShopWiki’s CEO, Rory Cumming, wouldn’t reveal the exact size of the round he did say that the company is “on quite solid footing and we feel great about where we are.” The round was led by Generation Partners.
ShopWiki has launched sites in the U.K., France and Australia and will soon launch in Germany and the Netherlands. “We’re the most international comparison shopping site – we crawl an index in every European country and we’re in more countries and have more offers and stores than any other site, in Europe or the U.S.,” Cumming said.
The site boasts 200,000 U.S. stores and 240,000 global stores.
So what’s ShopWiki’s ad model? Cummings said that ShopWiki’s ad model combines elements of CPA and CPC. “We’re not a brand ad location, but people come to ShopWiki to make a specific purchase, so a lot of brands use keyword targeting. We have anywhere from 6,000 to 10,000 companies spending on our site on a performance basis,” he said. “Most of our relationships are through affiliate networks – we work with all of the major affiliate networks worldwide.”
The soon-to-launch (date TBD) luxury vertical shopping portal is under development with sister company 10gen, a platform designed to help developers quickly build complex and scalable Web applications.
ShopWiki was founded in 2005 by former DoubleClick CEO Kevin Ryan, former DoubleClick co-founder and CTO Dwight Merriman and Eliot Horowitz.
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