On Tuesday, March 23rd, Shopping.com, the online product comparison and shopping search engine, filed for IPO. Shopping.com is the results of the merge between DealTime and Epinions, and allows customers to compare prices on products and merchandise.
According to SiliconValley.com: “New York-based Shopping.com said it will use the net proceeds from the offering for general corporate purposes and working capital requirements. The company said it may also use a portion of the net proceeds to fund acquisitions of businesses, products or technologies.”
The significance of this IPO is when put in the context of the upcoming Google IPO and the recent relaunch of Yahoo! Shopping. While Shopping.com has been one of the original product comparison sites, it had been facing competition from other established names in the search engine industry.
With the continuous growth of US ecommerce, fueled by increasing convenience and improved confidence in the online security, both Yahoo! and Google have developed their own offerings. Yahoo! Shopping charges merchants on pay-per-click basis while Google’s Froogle is free. I implement Froogle datafeed for online merchants. Froogle accepts submissions from US-based online merchants only. If interested feel free to contact me.
Fewer Online Shoppers in the European Union
According to a study by the European Opinion Research Group, as reported by eMarketer, 84% of the Europeans have not become online shoppers. Yet!