iPrice, which gathers prices from various e-commerce platforms to help Southeast Asian consumers do price comparisons, is one of the unicorn startups from Malaysia.
According to Merriam-Webster, in terms of business, a unicorn is a start-up that is valued at one billion dollars or more.
As a pioneer in Southeast Asian e-commerce, with offices in Malaysia, Indonesia, Vietnam, Thailand, the Philippines, Singapore, and Hong Kong and lists more than 1,500 merchant partners' products, totalling around US$ 1.5 billion, according to Inventiva.
In 2019, the iPrice platform saw over 20 million monthly visitors and 5 million transactions. The KL-based business is likely to keep expanding swiftly given the optimistic forecast for Southeast Asian e-commerce, which Google and Temasek anticipate could be a US$ 150 billion sector by 2025.
iPrice basically wants to be the top gateway. The goal of the business, according to iPrice Group CEO and founder David Chmelar, is to be the best shopping companion online.
With this expanded service, iPrice has established itself as a reliable resource for finding new products outside price comparison. iPrice offers users expert product evaluations, comprehensive seller profiles, daily deals, and coupons.
iPrice claims they are investing a fresh round of investment in keeping expanding their value proposition to users. In addition to offering the lowest price, iPrice aims to help users with spending time on e-commerce platforms, which host hundreds of merchants and products.
“You will be upset if you purchase an inexpensive item that turns out to be a fraud, isn't authentic, has no warranty, or is damaged,” said Chmelar.
Users need all of these details to make the best decisions. Since then, iPrice has been closely observing a seller's rating and emphasising those without a reputation for being difficult to work with as well as those with a high rating. Expert reviews improve the reviews' content as well. The goal is to help customers in choosing the best decision.
On other occasions, Malaysia Tech Month, which took place in November 2020 despite COVID-19, was a month-long showcase of all the talented individuals advancing their industry 4.0 knowledge, and companies on the path to their global success. Malaysia showcases its strength in the tech ecosystem and the peak of a digital home.
Malaysia, a country of 33 million people, uses a multilingual, well-educated workforce. It may be a developing nation, but Malaysia's future in technology appears to be positive, according to Techcollectivesea.
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