iPrice

About iPrice

In 2014, as Southeast Asia's e-commerce landscape was rapidly expanding, it was also becoming incredibly fragmented. Shoppers had to jump between countless websites to find what they wanted at the best price. Three founders, David Chmelar, Tim Marbach, and Heinrich M Wendel, saw this chaos as an opportunity. They launched iPrice, a Kuala Lumpur-based e-commerce aggregator, to bring all the products from various online stores into one place. The business model was straightforward: create a massive online catalog where users could compare products and prices, then earn a referral fee when they click through to a merchant's site and make a purchase. Beyond just price comparison, iPrice expanded to offer coupons and product discovery, positioning itself as a comprehensive shopping companion. This approach helped them grow quickly, attracting millions of monthly users across seven countries in the region. A series of successful funding rounds, including a significant $10 million Series B investment, fueled their expansion. This capital allowed iPrice to deepen its technology, partner with super-apps like LINE, and even expand into new verticals like comparing consumer loans for purchases. The playbook was working, and the company was solidifying its role as a key gateway to online shopping in Southeast Asia. The journey culminated in April 2023 when iPrice was acquired by Bukalapak, a major Indonesian e-commerce company. This move validated iPrice's business model and provided it with the resources of a larger player, allowing it to continue operating as the go-to price comparison platform while also expanding into new markets like Australia.