iPrice Group Receives Investment from LINE's Parent Company

iPrice Group, a product price comparison platform, received fresh funding from Naver Corp, parent company of messaging app LINE for an undisclosed amount. It says this investment comes three months after LINE's VC arm, LINE Ventures, led the round series B funding iPrice.

CEO and Co-Founder iPrice Group David Chmelar said Naver has strategic value for the company, as it not only operates the leading search engine in South Korea, but is also able to build an amazing shopping and price comparison engine in its domestic market.

"Given Naver's wealth of experience and strategic value, we could not miss this opportunity to welcome them as our investors. We are honored to receive the trust of a company as iconic as Naver on iPrice's journey to become the premier portal to online shopping in Southeast Asia," said Chmelar. in an official statement.

Representatives from Naver Corp also responded, represented by Peter Na. Na said, "The incredible achievements iPrice has continued to display throughout their last funding round [iPrice] is a testament to the impressive performance of a strong team and explosive growth in the Southeast Asian e-commerce market."

iPrice's Commitment to Indonesia

Contacted separately by DailySocialiPrice Group CMO Matteo Sutto added that this new funding will also be used by the company for the development of the Indonesian market. Same thing three months ago.

"At the same time, we also continue to develop technology to improve user experience, especially in our two main verticals, fashion and electronics," said Sutto.

Regarding the potential collaboration between iPrice and Naver in the future, Matteo is still reluctant to comment further.

Indonesia, he continued, is iPrice's largest market in Southeast Asia. Of the total traffic in seven countries, 25% of traffic comes from Indonesia. To increase its business penetration, according to him, the company will always focus on providing the best product experience for users.

Whether it's from a more complete and comprehensive product catalog, more accurate price comparison information, a fast and convenient interface for users, and so on. Of course, providing quality traffic performance for e-commerce e-commerce partners with iPrice.

"This strategy has been the key to your success and monetization ability in recent years compared to our competitors," concluded Sutto.