January 7, 2019
Jakarta – Pricebook Co., Ltd., which runs Indonesia’s leading O2O Tech & Gadget Shopping Discovery Platform Pricebook(https://www.pricebook.co.id), announces the completion of its fourth round of fund raising. The investment is led by Mirai Creation Fund II (two), a fund invested by Toyota Motor Corporation, Sumitomo Mitsui Banking Corporation and SPARX, followed by existing investor KLab Venture Partners Co., Ltd. The amount raised is not disclosed.
Pricebook Co., Ltd. is a company with a mission to fill information gaps in Southeast Asia among consumers and businesses. For its service, Pricebook collects product information and availability in both online and offline stores through their uniquely developed channels, which information they share through the website and social media, helping the shopping decisions of millions each month.
Backed by the 5-year market experience, Pricebook also offers manufacturing brands and financial companies various marketing solutions online and offline to its vast reach of potential customers. The two-way business development has helped Pricebook acquire the highest brand recognition as a tech & gadget shopping discovery platform in Indonesia.(*1)
With the new fund, Pricebook will further accelerate the O2O integration with its 1000+ offline sellers through the website and social media such as YouTube and Instagram, together with the expansion of online seller coverage. Pricebook will also strengthen the team and the delivery of marketing solutions to the product/service providers, aiming to be the go-to platform for all shoppers and sellers in Indonesia.
Key to Market Adoption = Online + Offline
For the market of 270 million residents, 140 million internet users, and high interest in mobile device, Pricebook provides answers to various shopping difficulties Indonesian shoppers have. The major product coverage being gadgets and electronics such as mobile phones and laptops, it offers information to help choose a product based on an originally-built product database with specifications, reviews from the product users, and articles written by tech journalists.
For those with strong purchase intent, it offers pricing and availability, of stores in online marketplaces such as Tokopedia and Bukalapak, and of partner offline sellers in electronics shopping malls such as ITC Kuningan and ITC Roxy Mas.
<Tomonori Tsuji, CEO of Pricebook>
“The key driver of Pricebook’s growth has been in adapting to the Indonesian behavior online and offline. Over the years of operation, Pricebook has realized that, though Indonesia’s internet population and the e-commerce market is rapidly growing, the gap between heavy online shoppers and those not remains to be wide. Heavy online shoppers made purchases based on pricing data, while many many others preferred to see the product and the seller before purchase, a big market full of inefficiency.
That’s why in addition to offering convenience to online shoppers with the website which Pricebook was already popular for, Pricebook shifted to offer the country’s only O2O shopping discovery platform through extended reach using social media. Pricebook’s YouTube and Instagram are now the country’s top 5 fastest growing tech influencer accounts.”(*2)
“Pricebook has built its business model around the belief of ‘Pilih Yang Terbaik’(Choose Your Best). It has multiple revenue sources online and offline, from manufacturers to sellers, from branding to lead generation, allowing us to fully commit to the shopper’s demand without needing to overly push any particular product/service or seller. That’s what has been winning the consumer trust over the years.”
(*1)Google Ads Keyword Planner, Google Trends. Dec, 2018
(*2)Subscriber/Follower increase in the past 30 days. Dec 18, 2018
Pricebook Co., Ltd.(Japan)
・ Representative Director: Tomonori Tsuji
・ Founded on: Sep., 2013
・ Business: O2O Shopping Guide, Marketing Solution Services
・ Service since: Dec., 2013
・ URL: https://www.pricebook.co.id
・ Local entity: PT. Pricebook Digital Indonesia(Indonesia). 35 members.
・ Past investments:
Ø 2013: Incubate Fund
Ø 2015: Global Brain, IMJ Investment Partners, Hirokazu Mashita
Ø 2016: KLab Venture Partners, Aucfan
Representative Director Summary
Tomonori Tsuji (CEO) – After spending his early days in Japan, Moscow, and New York, graduates University of Tokyo, joins an online marketing agency startup ItoKuro in Japan, managing online advertising and media development. Later becomes head of media development in a Singapore startup. Spins out to establish Pricebook Co., Ltd. in September 2013. CEO of PT. Pricebook Digital Indonesia.
Mirai Creation Fund I (one) and Mirai Creation Fund II (two)
Mirai Creation Fund I (one) targets investment in enterprises and projects that possess innovative technologies in the core three areas of Intelligent Technology (e.g. artificial intelligence), robotics, and technologies for a hydrogen-powered society. It began its operations in November 2015 with SPARX as an operator, with investment of 13.5 billion yen by Toyota Motor Corporation, Sumitomo Mitsui Banking Corporation and SPARX. Finally, 20 companies, including first 3 companies, invested in the Fund I. The Fund I invested in about 50 companies, in US, UK, Israel, Singapore and Japan. (https://mirai.sparx.co.jp/en/). In the second half of 2018, SPARX launched Mirai Creation Fund II (two). In addition to the three categories of that Fund I focused on, the Mirai Creation Fund II mandate also includes electrification and new materials. Combining Mirai Creation Fund I and Fund II, AUM reaches 60 billion yen, at the end of November, 2018.
Ø Public Relations, SPARX Group Co., Ltd.
Ø Telephone： +81-3-6711-9100
Ø Email: firstname.lastname@example.org
KLab Venture Partners Co., Ltd.
・ Representative Director: Hirokazu Nagano
・ Founded on: 21 Oct., 2015
・ Business: Venture capital fund for seed/early stage internet startups
・ URL: http://www.kvp.co.jp/en/
・ Press release
Email : email@example.com