Rocket Internet-backed PricePanda merges with rival platform, Getprice

• E-commerce platforms Pricepanda and Australia-based Getprice will be merging and operating under the Next Commerce banner
• The move is meant to drive growth in Australia and to further expansion into Southeast Asia and other emerging markets
• Existing PricePanda shareholders including Tengelmann Ventures, Kinnevik and the Asia Pacific Internet Group have reinvested in the business

Rocket Internet-backed Price Panda, a price comparison site, has just announced a merger with Australia-based rival platform, Getprice.

Both companies will operate under the Next Commerce umbrella, a distributed commerce site, as standalone brands in their respective markets.

Getprice Co-founder, Jared Oken, will take over as Next Commerce’s new CEO , while former Getprice co-founder Chris Hitchen will chair the board of directors alongside Rocket Internet’s CEO, Oliver Samwer.

The merger follows Rocket Internet-backed foodpanda‘s acquisition of rival company Just Eat, announced just one month earlier.

Also Read: Rocket Internet-backed foodpanda buys rival JustEat in India

According to Oken, the companies are focused on extending their lead the Australian market and accelerating growth in Southeast Asia and other emerging markets. This includes scaling up their operations team in Manila and their regional sales team.

Existing shareholders have reinvested into the company, led by Tengelmann Ventures, Kinnevik and the Asia Pacific Internet Group, Rocket Internet’s joint venture with Ooredoo.

Launched in 2012, Pricepanda is one of the largest price comparison platforms in the region, and raising US$3 million in 2014, while Getprice, started in 2005, has listed more than 5 million products from over 1,300 Australian retailers. Both companies collectively operate in nine countries across Asia-Pacific and registering four million unique visitors monthly.

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