PRESS RELEASE

Malaysia
Singapore
Indonesia
Philippines
Thailand
VietnamHongKong

EMBARGO, HOLD UNTIL 21st of MAY
Southeast Asia’s “One Stop Shopping Destination”

iprice group received seed funding worth $ 550K from Asia Venture GroupKUALA LUMPUR, 21 MAY 2015 – iprice group, a Malaysia-based company has received
US$550,000 in funding from Asia Venture Group (AVG) to create the largest online shopping
community in South East Asia. As the young Internet population in the region is growing
by more than 50% within the next 3 years - according to a report by UBS - it will drive
e-commerce volume at least fivefold by 2020. Tapping into this potential, the website alreadyoffers more than 3 million products from over 10,000 local and international brands, sourced
through trusted online stores.
Founded in October 2014, Co-founder Heinrich Wendel said that the idea of the website
was to create the most delightful online shopping experience by giving shoppers an intuitiveand visual way to discover products. “Whereas other sites in the space are all aboutcomparing prices, we focus on narrowing down the vast amount of products to yourpersonal preference. No matter whether you are looking for a blue and black dress,
3 inch high heels, a solid bag pack, or a classic Chesterfield sofa, we will show you
where you can get the best offer.”
Shoppers browse through the millions of products by categories, brands, models
and colours, amongst other attributes, to get inspiration. All products are automaticallylinked to special promotions and coupons that are offered by the respective e-commercestores. In the future, the company will double down on it’s machine learning algorithms
to further improve the “smart search” and provide individual recommendations according
to the user’s browsing behaviour.
Operating from their headquarters in Kuala Lumpur, the company employs talentfrom all over Southeast Asia, enabling them to address the needs of each local market
individually. The service is already live in Singapore (iprice.sg), Malaysia (iprice.my),Philippines (iprice.ph), Hong Kong (iprice.hk), Thailand (ipricethailand.com), Indonesia(iprice.co.id) and Vietnam (iprice.vn) - with traffic more than doubling every month.
For e-commerce stores iprice provides invaluable expertise in online marketing,helping them to expand their reach to new markets and grow their customer base.
Tito Costa, Managing Director for Zalora Group, Asia’s leading online fashion destination,
recognizes iprice as a strong affiliate partner. “iprice helps online shoppers to findwhat they have been looking for and to discover new products. They send highconverting traffic to Zalora across the Southeast Asia region anddrive our revenue significantly”, he said.

About iprice group
iprice group is the one stop shopping destination that allows consumers to easilyfind any product online, in an intuitive and visual fashion. Since October 2014,
the platform has established itself as leader in the segment across seven markets:
Malaysia, Singapore, Indonesia, Philippines, Hong Kong, Thailand and Vietnam.
iprice mission is to create the most delightful online shopping experience andaims to provide the widest selection of products across all categories.
About Asia Venture Group
Asia Venture Group (AVG) is a hands-on, private Internet Holding Company
that focuses on long-term value creation in South East Asian online markets.
Targeting the sweet spots of SE Asian Internet space in chosen verticals
by combining: state of the art international know-how and expertise,
rigorous execution excellence, the best local partners and international
management talent. AVG focuses on digital distribution models andis extremely selective in terms of the companies it supports,
which allows strong engagement in day-to-day operations.
For further information, please contact:
Heinrich Wendel
Co-founderPhone Number: +603 2201 0233
Email: press@ipricegroup.com