iPrice Group (Wind-Down)
The business, the turning points, and the decisions behind them.
Some sections are still being researched2 / 4
Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
iPrice Group was a Southeast Asian price-comparison aggregator founded in October 2014 by David Chmelař and Heinrich Wendel, operating shopping-companion sites across eight countries including Malaysia, Singapore, Indonesia, Thailand, the Philippines, Vietnam, Hong Kong and Australia, serving more than 125 million users. It raised about $25 million from investors including Itochu and Naver. After downsizing substantially in 2022, Bukalapak acquired a majority stake in April 2023 and the company continued to operate as an independent entity.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Company founded
David Chmelař and Heinrich Wendel found iPrice in October 2014 as a price-comparison platform for Southeast Asia.
- Workforce reduced
Amid a cooling fundraising market, iPrice scales back long-term bets and downsizes its team substantially, including a 20% layoff.
- Acquisition
On April 4, 2023, Indonesian e-commerce company Bukalapak acquires a majority stake in iPrice; the platform continues to operate independently.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
Material for this section is being gathered and checked. It will appear here once ready.