For consumers, there’s one common mantra: why spend more when I can spend less. And to get their best bargain, most people scour the internet for websites that offer one-stop price comparison services, obtain discount coupons for online shopping, frantically look for sale: basically invest time in what we like to call “desk-research”.
Taking such needs of a consumer forward is the start-up for the day: Wicfy (Where is it Cheapest). In their words they provide “a social way to discover lowest prices in your city”. Wicfy from Simplibuy Technologies is a unique web-based social system built around prices of standard products. Wicfy allows you to share products, prices and several points of sales be it in stores, online or in the market. This is the first ever platform that is built primarily on user generated content.
Unlike existing price comparison sites, the results on Wicfy are visual and keep improving constantly. Its uniqueness lies in how it sources information. Principally its crowd sourced but Wicfy also hires content curators who collect, organize and upload information on the portal. Users share interesting discoveries about prices, products and sellers for which they are awarded credits that help them rise on WiC leaderboard.
Wicfy follows a unique principle of truth and trust rank algorithm (Patented in US/ India/ Australia) with which it sets the trustworthiness of a particular seller/POS. It also claims to have developed a mechanism to rank market places that helps consumers go to the right places to buy great products.
A few more features that we found interesting are the iWant and Explore Markets. With iWant, you express your desire to buy a product at a price you are willing to pay by a particular date. You submit this request to the website, which then notifies you once a similar deal is available in your city.
The Explore Markets feature tells you everything, from what a market area in a particular place is famous for to the facilities available in that particular market in your city. Such a feature would definitely come in handy not only for the locals but also for tourists visiting the city.
About the Company
“The team Wicfy was initially working on a Web 2.0 depreciation model based project called “PriceMyStuff “. While working on various aspects of the project it dawned to the founders that crowd intelligence can be better used to find “Who is the cheapest seller of any given product in a selected geography? “ This can benefit everyone. From there, there was no looking back.”
Wicfy is funded by reputed early stage VC firm Eco system ventures, California. It has very high quality global investors including Managing Directors of top global banks and CEOs of wealth management firms.
This innovative startup also has a couple of accolades to its name. Wicfy has been awarded as one of the Emerge 50 companies of India for 2012 in the startup category by NASSCOM. It has also been the Semi finalist in The Economics Times – The Power of Ideas (2010).
Give Wicfy a spin and let us know what you think about it.
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