Chinese price engine b5m.com (or 帮我买, help me buy) announced raising US$ 7.1 million in Series A round of funding led by Oak Investment Partners and Giosis Holdings while the money will go towards website development, marketing and ongoing innovation, according to the Shanghai-based company.
The shopping service combines items and shopping data with community features to help online buyers make shopping decisions assisted by comprehensive, accurate and unbiased search results.
Founded in 2007, the site as of now has indexed over 30 million business-to-consumer products, product reviews, and even shopping-related web articles. Yeogirl Yun, founder and CEO of B5M said that “We have set out to build state-of-the-art search and data mining technologies to give Chinese consumers the power to choose the best new or used product or group-buying deal from over 200 business-to-consumer websites and 100 group-buying sites.”
As China ecommerce sector keeps its fast growing pace, prince engines that help people buy smartly and save more have been springing up like Smarter.com.cn, askyaya.com, Youdao Shopping (by NetEase), Beargoo.com (3C-centric) and Taobao’s Etao.