Do you want to buy a laptop from eBay or Craiglist? Confused with the different prices for the same product? Want to pay the best price? Definitely there is something going on in the startup battlefield. The young startup from Y Combinator Priceonomics is solving this impending problem for online consumers.
Yes, if there are different prices of the same products, Priceonomics will guide you and tell what top buy at what price. It is a price search engine and allows you to select the best seller and choose a deal that gives you the best value for your money.
Startups.fm spoke to Michael Flaxman, CEO & Co-Founder of Priceonomics, on how are they helping online consumers to get rid of this price dilemma!
What is your mission behind Priceonomics?
Our mission is to give consumers a fair price for any product they want to buy. It seems strange to us that people pay dramatically different prices for the exact same products.
How did you enjoy your phase in Y Combinator?
Y Combinator was amazing, I highly recommend it. One thing I didn’t fully appreciate until doing it was how hard all the YC partners work to make their startups succeed.
Demo Day was great. We spent months focused on building a great site and hadn’t talked much to outsiders. It was great to see that people actually like what we’re building. It’s a bit of a frenzy though, you meet dozens of people in a very short period of time. Then we spent the next week converting all those business cards into checks. It’s pretty amazing how seamlessly that process went.
Do you have a niche target audience? How do you plan to engage them?
Our target audience is pretty broad, it’s basically the same people that use craigslist and eBay. There’s a smaller community of bargain hunters who particularly like what we’re building and we plan to come up with some tools for them to find great deals.
What are you revenue earning options from Priceonomics?
What’s amazing about the people who use our site is that they’re looking to buy stuff, which is just about the best user you could have on the internet. Right now we’re focused on delivering a great pricing experience, but there’s lots of ways we can monetize all that purchase intent.
Why do you think users would love Priceonomics?
We help them figure out what’s a good deal, and everybody loves a good deal! People are always amazed at all the different things we can generate price guides for, and we’ve got lots more coming.
What would you like to say to early stage startups?
You will face so many decisions, and deciding what to focus on will be enormously important. Time is your most precious resource, so spend it wisely.
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