With the investment, Isaac Hillel, Pitango Managing Partner and Ori Israely, Giza Managing Director, join WinBuyer's Board of Directors. Additionally, Dan Clarke has been appointed to the role of CEO. Mr. Clarke has previously held positions as Senior Director at Intel US, and CEO of Vcommerce, an ecommerce platform used by leading online retailers.
WinBuyer was founded in 2005 by Miki Balin and Alon Weinberg, with offices in Tel Aviv, Israel, Scottsdale, Arizona and London, England. To date, WinBuyer's unique technology has been implemented by more than 200 online merchants in the US and UK.
WinBuyer recently announced that Overstock.com, an ecommerce market leader, will begin offering OCP in time for the holiday season, giving their consumers the ability to make more informed buying decisions by comparing other merchant's product prices, prior to making a purchase, without leaving the Overstock.com site. Other marquee WinBuyer clients include: Ritz Interactive, GameQuest and Hayneedle.
"We are very happy to have Pitango and Giza as new investors in the company," said Dan Clarke. "The investment allows WinBuyer to expand its market presence within the U.S. and further into international markets, exponentially growing the solution's availability to online retailers."
"WinBuyer's unique solution hits on a new dimension of the consumer's purchasing experience and provides added value to online merchants," remarked Isaac Hillel. "We see high potential in both concept and product. We are delighted by the opportunity to work with such an experienced management team and to assist them in achieving their goals and targets."
Ori Israely concludes, "We are pleased to join a group of founders with such a high level of expertise in ecommerce. We have been following the Internet sector since its beginning and have seen a growing need in the ecommerce market for more sophisticated price comparison solutions. WinBuyer has a unique technology that provides an answer to this need. We are extremely excited to be involved in this opportunity."
About WinBuyer www.winbuyercorp.com
WinBuyer provides retailers with an Onsite Comparative Pricing (OCP) application, which enables retailers to accelerate consumer purchase behavior by embedding comparative shopping information into a retailer's site at the point of sale. Over 200 merchants are realizing how WinBuyer can benefit them through increased sales conversion, greater average order size, improved site stickiness and enhanced consumer confidence. WinBuyer was founded in 2005 and is headquartered in Tel Aviv, Israel, with offices in Scottsdale, Arizona and London, England. For additional information on WinBuyer, Inc., please contact press@winbuyer.com or visit www.winbuyercorp.com.
About Pitango Venture Capital www.pitango.com
Pitango Venture Capital, the leading venture capital firm in Israel, has been investing in technology entrepreneurs since 1993. With offices in Israel and Silicon Valley, California, Pitango currently manages several venture funds totaling over $1.3 billion in committed capital invested in more than 100 companies. Pitango invests in high-growth companies in various stages, from seed and early stages to growth and late-stage, and supports them as they grow. Pitango's investment focus includes: Communications; Networking & Storage; Wireless, Cellular and Mobile technologies; Enterprise Software, Internet and Media; Healthcare & Life Sciences, and Clean Technologies.
About Giza Venture Capital www.gizavc.com
Giza Venture Capital established in 1992, is a pioneer investor in seed and early-stage technology companies and currently manages five funds totaling over $600 million. Giza's investment professionals have a wealth of expertise and experience in Communications, Semiconductors, Information Technology, Enterprise Software, Life Sciences, CleanTech, Internet and Media. This expertise empowers the team's decision-making and problem solving capabilities and accounts for the Fund's hands-on approach in working closely with its portfolio companies. Giza has invested in 93 companies and its vision in recognizing future technology leaders has led to over 30 successful exits. Giza also has a seed stage investment plan called the Ofek Program whose goal is to secure investment in high-quality seed opportunities at the earliest possible stage. The Fund brings significant added value to its portfolio companies post-investment through involvement at board level as well as providing active support in strategy, marketing, financial and personnel-related decisions.
SOURCE WinBuyer
