Profitero was announced the IBM Global Entrepreneur of the
Year at the IBM SmartCamp Global Finals in San Francisco, California on February 2. Profitero provides a next-generation pricing intelligence service for
retailers and manufacturers.
IBM SmartCamps are designed to provide
entrepreneurs with the mentoring and insight needed to innovate in their
markets. Past participants from IBM SmartCamp competitions have captured
the attention of the venture capital community with nearly $50 million
in investments, and have expanded to new global markets.
Profitero was founded by Volodymyr Pigrukh (CEO), Dmitry Vysotski (CTO) and Kanstantsin Chernysh (VP Engineering) in late 2010. The company has grown in the retail analysis space since its foundation, and now hopes to partner with IBM to expand their operations throughout Europe.
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| Volodymyr Pigrukh (CEO), Dmitry Vysotski (CTO), Kanstantsin Chernysh (VP Engineering) |
Like many start-up concepts, the idea appeared almost by accident,
when one of the co-founder, Kanstantsin Chernysh - who managed several online stores - came to realize he
had no way of effectively pricing mobile accessories. He developed a
prototype solution that would crawl his competitors' websites and get
real-time pricing information that would in turn help his accessories’
website create competitive pricing.
Profitero has already raised €750,000 million in venture capital from Delta Partners and Enterprise Ireland, the Irish government agency for
the development and growth of Irish enterprises in world markets. Profitero has
13 full-time employees.
Profitero helps its clients increase sales
and maximise profits by leveraging high-quality online competitive data
at scale. This, in turn, allows businesses to react quickly to changes in their competitors’ prices.
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| Profitero accepts IBM SmartCamp Award |
Profitero is currently monitoring 28 million products across 2,900 European
retail websites, and it plans to grow this to 100 million products in
2012.
“We are honoured to be named
the IBM Global Entrepreneur of the Year,” said Vol Pigrukh, chief
executive officer and co-founder, Profitero. “Our solution is a natural
complement to IBM’s smarter commerce strategy. We are looking forward
to working with IBM and its network of technical experts, business partners,
venture capitalists, academics and clients to capture our share of the
smarter commerce opportunity.”
“Profitero is a great example of
the kind of start-up company that IBM is partnering with around the world
to build a smarter planet,” said Jim Corgel, general manager entrepreneur
programs, IBM. “We look forward to working with Profitero to combine big
data expertise with retail insights and entrepreneurial innovation to create
new smarter commerce solutions for retailers.”
Watch interview with Vol and Dmitry in San Francisco following the win.
Watch
program highlights, interviews and presentations from the venture capitalists
and entrepreneurs on LiveStream.
For more information about the IBM
Global Entrepreneur initiative, visit http://www.ibm.com/isv/startup
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| Fig 1.1. Profitero pricing intelligence service for retailers
About Profitero
Pricing intelligence company Profitero works
with retailers and manufacturers right across the European zone to help
them to grow sales and profit margins with the assistance of the
Profitero competitor price monitoring technology. We monitor 27.5
million products across 2,500 retail websites on your behalf.
Click here to view a short video demo on Profitero's competitor monitoring service.
Pricing Intelligence For Retailers And Manufacturers
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