Early days Prime Price (now PriceOn) pitch. Very naive and optimistic :) Inspired by Color we sent it to Sequoia Capital, Andreessen Horowitz etc. :D
After year startup name changed to PriceOn and we raised 1m $.
Buyer wants the most suitable product.
Seller wants to prove that his offer is the best.
Buyer doubts: Seller loses buyers who:
• About the price • Go elsewhere to check the price and do not return
• About feasibility of promo discount • Don’t know that seller has the necessary product
• About product suitability for their needs • Think that this seller is too expensive
Buyer regrets: • Distrust promo discounts
• For overpaying
• For not buying the most suitable
• For having unjustified doubts
Product search service, encompassing ALL sellers,
both online and offline which makes it possible:
• Can find description of the product and
price in ALL STORES
• Can inform buyers about their prices,
promo discounts and available
• Get info about prices of product in
nearby stores, promo discounts and
other special offers
• Can bust myths about their overly high
prices and attract new buyers
• Can compare between products
meeting their criteria and choose the
best based on their needs and
• Can develop real-time personalized (by
users needs, time, location etc.)
An example of use:
As the user chooses milk at a shop, they scan the product bar code using their
mobile phone and receives a comparison of the product prices in nearby shops. The
buyer is also informed about any available promotions and special offers relevant to
the product they might be looking for.
There are currently about 2 billion internet users. We think that our product may be
interesting to about half of them – 1 billion people. We hope that 150 to 250
million people will use our service constantly, and they will carry out
an estimated 1 billion price searches
In the light of the Google search advertising revenue performance (and reductions on 2x), the
estimated monetary size of the search advertising market could
be at least 4 billion $. And this is only search
advertising market data.
Competitors Why Us
There are only online shop price comparison
services (like pricegrabber.com) and state-funded
statistical price services on the
market. Only the first group may be
considered our partial competitors since the
second group simply presents product group
price trends rather than the specific prices of
The main difference between our service and
those of competitors is that they publish only
comparisons of online shop products and only for
those shops which present such information.
However, a lot of people continue to prefer
regular offline shops in their everyday shopping.
Although currently there are no real
competitors on the market, it seems highly
probable that as soon as our service appears
competitors will appear as well to copy our
successful business model.
The strongest competitors may be the
companies that are currently administering
online shop price comparison websites.
Having the advantage of being the first on the
market, we will be able to ensure a legal
advantage by signing restrictive agreements with
sellers. We hope to occupy at least 50% of the
market and gradually expand that share.
It is important that we have dedicated
considerable effort to the development of a good
system, which will take a considerable amount of
time for competitors to reach us (6 months).
Current web market players may be scared away
by the fact that in order to develop a successful
business model they should refocus to
management-based and integrated work with
Version | Deadline
(After financing is
The following four stages of development of the product are planned (to
date, funding for the first version (1.0) has been assured):
1.0 2011-09-01 The user can perform a web-based search in the products database and compare
the offers of sellers. The service will operate in Lithuania and the database will
cover approximately 300,000 products found in major shopping centres of the
2.0 8 months The functionality of the service is expanded considerably; mobile device
applications are introduced; the search engine is enhanced; the user, partner, and
company staff interfaces are improved; and an advertising sales module is
developed. The service will operate in USA, Canada, China, Japan, France, Switzerland,
Germany, Austria, Belgium, Holland, UK, Ireland, Russia, Lithuania, Latvia.
3.0 20 months The functionality of the service is expanded further: smart product comparison and
cart modules are introduced; place of purchase proposal; information collection
bots; geolocation module - search is associated with user location; search and
advertising modules are improved; and cooperation platforms for smaller sellers
are prepared. The service will operate in USA, Canada, China, Japan, South Korea, India,
Australia, all EU countries, Russia, Ukraine, Brazil.
Expansion Further stages of expansion: personal offer platforms; last minute offer platforms;
real time special offer platforms; special platforms for service providers, cafes, etc.;
payment modules; and expansion of the service to a number of countries around
- Virtually unlimited user load (scales horizontally, inspired by CQRS)
- High Reliability and Availability (one-way messaging between nodes)
- Ability to reinterpret collected data as business requirements change (Event
- Extensible and Maintainable (front-end – MVC, back-end - DDD)
- Development process based on true spirit of Lean & Agile
Partnership – Our system, the seller’s warehouse, and marketing systems will be
integrated. The sellers who communicate prices themselves will always be motivated
by the benefit of providing accurate data to users and by additional rating points in
the search engine, additional functions, etc.
Crowdsourcing – Certain users may be requested to enter the price of the product
they are searching for (if the search is carried out in a shop by scanning barcodes).
This will not place any additional load on the user because he/she will already have
scanned the product and geolocation will identify in which location he/she is. The
user then will have to press a few buttons to enter the price or refuse to do it.
Dedicated employees – We have some employees whose main task will be to
collect product and price information in certain stores.
Bots: Web bots who collect information from e-shops or pricelists on the web.
What we sell Who we sell to How we sell
Announcements of promotions
and special offers
Offline and online sellers Automatic announcement of promotions directly
from partner IT systems
Advertising in search results Sellers, manufacturers Automatic auction
Redirection to product purchase
pages of online shops
Online shops Automatic link ordering
Redirection to partner pages Manufacturers, offline shops Automatic link ordering
Statistics Consultancy companies,
Automatically generated pre-set statistical sets
Planned to be completed during further expansion stages:
Personal offer announcement
Large retail chains Our software package integrated into the seller’s
system which automatically presents personal offers to
Last minute platform service Service providers, sellers
Our automatic announcements publication software
package with modules adapted for specific businesses
Special offer platform service Sellers, service providers
Local offer platform service Sellers, service providers
CEO – Jurij Laneckij (Yuri Laneckiy)
7 years – Head and Founder of Departament (70 staff) in Engineering
Vilnius University, Lawyer
Full CV here
CTO – Andrejus Poznanskis
4 years – .NET Web Developer (asp.net, asp.net mvc).
Vilnius University, Developer
Full CV here
To date, founders have invested 125,000 USD in the project.
This amount should be sufficient for the implementation and
start of the project version 1.0 in Lithuania.
The provision of the service will not generate any real revenue
until the start of version 2.0 of the project since no automatic
advertising order module will be available at the beginning.
For the rapid development of the project we need to fund:
Project costs 2.0 version (1-8 months) bugdet $ 3.0 version (9-20 months) bugdet $
System development 1 520 000 1 840 000
System support, traffic 480 000 3 120 000
Office costs 680 000 360 000
Branch‘s costs 1 480 000 5 560 000
Operating costs 1 800 000 5 120 000
Total 6 000 000 16 000 000
8-20 months revenue 12 000 000
6 000 000 4 000 000
10 000 000 $
* If you are interested in detailed cost and revenue estimates please contact us