Become.com to use new funding to develop price comparison shopping engine
Search engine Become.com has received $7.2 million in funding from venture capital groups Transcosmos and Silicon Valley Angels, the company announced. Proceeds from the funding round will be used to develop a price comparison shopping engine, which, as previously announced, is expected to launch this summer. The company also will expand its shopping index, which currently includes more than 3 billion pages of shopping-related information from more than 40 million web sites.
Become.com debuted this winter. It offers professional reviews, buying advice and articles in addition to the upcoming price comparison shopping service. “The feedback we have received from current users has been overwhelmingly positive and we look forward to delivering our price comparison shopping site this summer,” says Become.com CEO Michael Yang, who was a co-founder of pioneer shopping bot MySimon.com. “We are very pleased with the additional investment from Transcosmos and the other investors, all of whom have great confidence in Become.com as the next generation search engine for shopping,”
Since its February launch, Become.com has experienced a more than 100% growth in traffic from March to April, introduced a shopping-focused spell-checker, and introduced affinity Index Ranging, the first new search algorithm since Google introduced PageRank in the late ‘90s, according to the company.
Back...
