The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
Kelkoo launches U.S. comparison site with millions of products.
Kelkoo, a company that operates comparison shopping engines in 10 European countries, is launching in beta this week Kelkoo.com, a version of its engine for the United States. Kelkoo’s business model and technology platform lend themselves to international development, and there is a clear commercial opportunity for the company to expand globally, the company says.
The beta launch of Kelkoo.com will allow U.S. consumers to compare more than 2 million products from more than 1,500 retailers, including Amazon.com Inc., eBay Inc., Sears Holdings Corp. and Wal-Mart Stores Inc. Kelkoo expects to increase the number of products to more than 5 million from more than 5,000 retailers by the end of 2010. In Europe the company lists 12 million products from more than 10,000 retailers.
Kelkoo.com will be hosted and managed in Europe and the site will eventually include a shipping and tax calculator, enabling U.S. customers to calculate their costs based on their location.
“International growth forms part of Kelkoo’s ongoing strategy and the U.S. provides an exciting opportunity for Kelkoo to expand and develop its brand as a leader in shopping comparison,” says Bruce Fair, vice president of international. “Kelkoo benefits from a strong 10-year online heritage and a business model that lends itself to significant low-cost expansion opportunities. There is a clear investment case for pushing Kelkoo forward into new territories to maximize its profitability as a business and we will continue to seek strategic opportunities for growth both within and outside of Europe in the coming year.”