BANGKOK, Sept. 27, 2016 /PRNewswire/ -- One of the fastest growing shopping search engines in Southeast Asia, Priceza enters a long-term partnership with media company from Germany, Hubert Burda Media (HBM).
Priceza operates in 6 countries with a rapidly growing presence in Indonesia. The company recently lands a series B funding, for Burda Principal Investments (BPI) in SE Asia; whereby HBM holds a 24.9% share in the company. The partnership focuses on accelerating Priceza's growth to becoming the number one shopping search engine in Southeast Asia.
Priceza Group, established a few years back in 2010 by three computer engineers, has grown to become a team of over 60 tech and digital professionals, and today serves over 14 million shoppers every month. Thanawat Malabuppha, Priceza's Co-founder and CEO, shares, "E-commerce shopping accounts for a mere 1-2% of total retail sales in SEA, while we see 16% in Korea, 9% in U.S. and 8% global average. With the growing ecosystem, and global player HBM backing us, Priceza is set for rapid growth." (Src: BofaMerill Lynch's eCommerce Report May 2015)
Hubert Burda Media, headquartered in Munich, is an international technology and media company with over 540 brands and products that are oriented to the needs of consumers. Burda has 175 million users and approximately 60 million paying consumers. Its commercial success is driven by over 10,000 employees around the world: Burda is active in 19 markets.
Fredrich von Scanzoni, CEO at Burda Asia, explains, "We have been investing in e-commerce companies for the past 20 years and understand the price comparison space very well. With Priceza joining our portfolio, they will bring deep insights into the region."
Peter Kennedy, Executive Chairman of Burda Asia, echoes this support, "We have been impressed by the growth of Priceza within and beyond Thailand. The strategy behind the Series B investment is to enable Priceza to expand and develop even further and solidify their market dominance."
Priceza and HBM shares a vision to make retail ecosystem in SEA as transparent as possible and realize a market of perfect competition, benefiting both buyers and sellers.
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