Pricetector Appoints Dr. Michael Burry Chairman of the Board Following $2m Seed Funding Round

LOS GATOS, Calif., Oct. 10, 2011 /PRNewswire/ -- Pricetector, the creators of a new social loyalty platform for retailers, today revealed that the company has received $2 million in seed funding from Dr. Michael Burry, founder of the Scion Capital LLC hedge fund, which he ran from 2000 until 2008. Dr. Burry was also appointed chairman of the Pricetector board. Pricetector recently unveiled its social loyalty platform to retailers at Shop.org in Boston.

"I get approached by numerous companies each year, and Pricetector stands out because it attacks a huge market inefficiency in the retail space," said Dr. Burry. "Pricetector's idea and approach has no foreseeable 'top,' and is a win-/win for both retailers and shoppers of all kinds."

Pricetector's social loyalty platform combines a highly scalable, cloud-based retailer platform with a consumer-facing mobile app that helps shoppers get the best prices before and after they buy, using just their smartphone.

Pricetector also announced the addition of two new advisory board members: David Allen, most recently chief technology officer (CTO) for i365, and formerly Visa's first CTO; and Itamar Simonson, the Sebastian S. Kresge Professor of Marketing at the Graduate School of Business, Stanford University.  Simonson has published more than 60 articles primarily in the areas of buyer decision-making, consumer choice and marketing management.

Founded by Rob Levy, former CTO of BEA Systems, Pricetector combines a highly scalable, cloud-based platform with a consumer-facing mobile app to help retailers engage with their customers and build long-lasting, personalized relationships. Pricetector is the only company to offer a loyalty platform that helps shoppers get the best prices before and after they buy, using just their smartphone.

"We are using this round of funding to scale our team and build out our platform," said Rob Levy, founder and CEO, Pricetector. "Since launching our social loyalty to retailers at Shop.org, we've had a strong response from national, brand-name retailers eager to find ways to deepen their relationships with shoppers who are ever more price conscious. We are really pleased to have access to David and Itamar's expertise as we position for growth," said Levy.

For more information about Pricetector please visit www.pricetector.com.

About Pricetector:

Pricetector was founded to help retailers use the latest technology innovations to engage with their customers and build long-lasting, personalized relationships. Pricetector's social loyalty platform combines a highly scalable, cloud-based retailer platform with a consumer-facing mobile app that helps shoppers get the best prices before and after they buy, using just their smartphone. Pricetector is based in Los Gatos, CA. For more information visit www.pricetector.com.

For more information:
Alice Chan
Bird PR
(415) 740 8174
[email protected]

SOURCE Pricetector