Shopping.com
Encyclopedia
Shopping.com is a price comparison service
owned by eBay
and operates websites in USA, United Kingdom, France, Germany and Australia. Shopping.com started out with the name DealTime.com which still operates as a related, but otherwise separate website.
in 1998 by Dr. Nahum Sharfman and Amir Ashkenazi, the original business model was to create a downloadable client that would monitor changes in prices of products the user seeks to buy over time, notifying the user when the product price reached a predetermined level (hence the site's original name, DealTime). Originally targeting American
consumers, the basic concept was quickly modified from a downloadable client to a purely web-based service, a concept the company has kept ever since.
After recruiting a management team of high ranking executives from other industries, DealTime underwent rapid expansion in 2000 including formation of a major alliance with media giant Bertelsmann
, adding British, German
, Spanish
and Japan
ese versions of its original American-targeted website, and acquiring Digital Jones, a product advisory website. However, during 2000 and 2001 it became apparent that the operation was losing a significant amount of money and that massive changes were needed. Three rounds of layoffs done in 2001 and 2002 halved the workforce to some 150; the Japanese and German websites were scrapped in late 2001, as well as plans for an early IPO, and Digital Jones was shelved. Also, a growing percentage of the merchants being advertised on DealTime's website were forced to start paying for this service or become de-listed; some lucrative product categories became paying-merchants-only. In 2002, a new bidding system was introduced, in which the highest-bidding merchant got higher placement on the default price comparison results page (consumers could always sort by price or rating). All these changes enabled the company to become profitable for the first time in 2003.
Under the leadership of its CEO, Daniel T. Ciporin, in April 2003, DealTime acquired the California
-based consumer product review site Epinions.com. In September 2003, the merged sites relaunched under the Shopping.com brand and web address which it had purchased from Alta Vista. The new name, as well as some offline (TV) advertisement and large online advertisement with partners such as Google
and other portals, enabled Shopping.com to become the 3rd most-visited consumer website, following eBay
and Amazon
, for several months during 2004, and continuously in the top-10. Although Shopping.com remained an Israeli corporation with R&D facilities in Netanya
, Israel, it had a strong US presence with its corporate headquarters first in New York City (1998–2003) and later in Brisbane, California.
The company went finally public in October 2004, and was acquired by eBay in June 2005. It is currently a semi-autonomous division within eBay and still runs the www.shopping.com website. eBay and Shopping.com functionalities are slowly being merged, for example eBay's PayPal
payment system in SDC's offering to its advertising merchants. Shopping.com accepts CPC bidding. Merchants must pay a minimum of $100.
Since 2005, the company has added French
, Australia
n and once again a German version of its website.
Shopping.com alumni are now found in a broad variety of successful high tech companies around the world.
In April 2009, 61 year old Nahum Sharfman was killed, along with his wife Nava, when their private plane crashed in Greece.
Price comparison service
On the internet, a price comparison service allows individuals to see different lists of prices for specific products. Most price comparison services do not sell products themselves, but source prices from retailers from whom users can buy...
owned by eBay
EBay
eBay Inc. is an American internet consumer-to-consumer corporation that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide...
and operates websites in USA, United Kingdom, France, Germany and Australia. Shopping.com started out with the name DealTime.com which still operates as a related, but otherwise separate website.
History
Shopping.com began as DealTime.com, which was founded in IsraelIsrael
The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...
in 1998 by Dr. Nahum Sharfman and Amir Ashkenazi, the original business model was to create a downloadable client that would monitor changes in prices of products the user seeks to buy over time, notifying the user when the product price reached a predetermined level (hence the site's original name, DealTime). Originally targeting American
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
consumers, the basic concept was quickly modified from a downloadable client to a purely web-based service, a concept the company has kept ever since.
After recruiting a management team of high ranking executives from other industries, DealTime underwent rapid expansion in 2000 including formation of a major alliance with media giant Bertelsmann
Bertelsmann
Bertelsmann AG is a multinational media corporation founded in 1835, based in Gütersloh, Germany. The company operates in 63 countries and employs 102,983 workers , which makes it the most international media corporation in the world. In 2008 the company reported a €16.118 billion consolidated...
, adding British, German
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
, Spanish
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
and Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
ese versions of its original American-targeted website, and acquiring Digital Jones, a product advisory website. However, during 2000 and 2001 it became apparent that the operation was losing a significant amount of money and that massive changes were needed. Three rounds of layoffs done in 2001 and 2002 halved the workforce to some 150; the Japanese and German websites were scrapped in late 2001, as well as plans for an early IPO, and Digital Jones was shelved. Also, a growing percentage of the merchants being advertised on DealTime's website were forced to start paying for this service or become de-listed; some lucrative product categories became paying-merchants-only. In 2002, a new bidding system was introduced, in which the highest-bidding merchant got higher placement on the default price comparison results page (consumers could always sort by price or rating). All these changes enabled the company to become profitable for the first time in 2003.
Under the leadership of its CEO, Daniel T. Ciporin, in April 2003, DealTime acquired the California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
-based consumer product review site Epinions.com. In September 2003, the merged sites relaunched under the Shopping.com brand and web address which it had purchased from Alta Vista. The new name, as well as some offline (TV) advertisement and large online advertisement with partners such as Google
Google
Google Inc. is an American multinational public corporation invested in Internet search, cloud computing, and advertising technologies. Google hosts and develops a number of Internet-based services and products, and generates profit primarily from advertising through its AdWords program...
and other portals, enabled Shopping.com to become the 3rd most-visited consumer website, following eBay
EBay
eBay Inc. is an American internet consumer-to-consumer corporation that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide...
and Amazon
Amazon.com
Amazon.com, Inc. is a multinational electronic commerce company headquartered in Seattle, Washington, United States. It is the world's largest online retailer. Amazon has separate websites for the following countries: United States, Canada, United Kingdom, Germany, France, Italy, Spain, Japan, and...
, for several months during 2004, and continuously in the top-10. Although Shopping.com remained an Israeli corporation with R&D facilities in Netanya
Netanya
Netanya is a city in the Northern Centre District of Israel, and is the capital of the surrounding Sharon plain. It is located north of Tel Aviv, and south of Haifa between the 'Poleg' stream and Wingate Institute in the south and the 'Avichail' stream in the north.Its of beaches have made the...
, Israel, it had a strong US presence with its corporate headquarters first in New York City (1998–2003) and later in Brisbane, California.
The company went finally public in October 2004, and was acquired by eBay in June 2005. It is currently a semi-autonomous division within eBay and still runs the www.shopping.com website. eBay and Shopping.com functionalities are slowly being merged, for example eBay's PayPal
PayPal
PayPal is an American-based global e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as checks and money orders....
payment system in SDC's offering to its advertising merchants. Shopping.com accepts CPC bidding. Merchants must pay a minimum of $100.
Since 2005, the company has added French
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
, Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
n and once again a German version of its website.
Shopping.com alumni are now found in a broad variety of successful high tech companies around the world.
In April 2009, 61 year old Nahum Sharfman was killed, along with his wife Nava, when their private plane crashed in Greece.
See also
- Price comparison servicePrice comparison serviceOn the internet, a price comparison service allows individuals to see different lists of prices for specific products. Most price comparison services do not sell products themselves, but source prices from retailers from whom users can buy...
- eBayEBayeBay Inc. is an American internet consumer-to-consumer corporation that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide...
- Silicon WadiSilicon WadiSilicon Wadi is an area with a high concentration of high-tech industries in the coastal plain in Israel, similar to Silicon Valley in California, in the United States. Silicon Wadi is considered second in importance only to its Californian counterpart...
- Kelkoo USA Website
- Amazon.comAmazon.comAmazon.com, Inc. is a multinational electronic commerce company headquartered in Seattle, Washington, United States. It is the world's largest online retailer. Amazon has separate websites for the following countries: United States, Canada, United Kingdom, Germany, France, Italy, Spain, Japan, and...