Tiger Global Management has recently led a $5Mn funding round in product and price discovery startup Reviews42. Existing investors Blume Ventures and Nirvana Venture Advisors also participated in this round.
Owned by Solvy Tech Solutions, Reviews42 provides comparisons of products and their prices from offline and online stores to its users. Its services are also available on mobile devices which gets about 60% of the traffic for the startup.
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The startup is now rebranding itself to Zopper.com. “Our brand name does not do justice to what all we offer. People only look for reviews and don’t appreciate other services we have,” Reviews42 co-founder Neeraj Jain.
Currently, Reviews42 only has presence in Delhi-NCR with about 1,000 retailers on board. It plans to invest the funds raised in this round in product development, team expansion and for expanding in other cities including Bangalore, Hyderabad, Chennai and Mumbai. The website will go live for Bangalore by August, followed by Hyderabad and Chennai.
Founded in 2011 by Neeraj Jain and Surjendu Kulia, Reviews42 had raised funding from Nirvana Ventures Advisors, Blume Ventures, Canaan India MD Rahul Khanna and Flipkart co-founders Sachin and Binny Bansal last year. Prior to that in 2012, it had raised funding from Blume Ventures and VentureEast.