Price.com, a San Francisco-based product-matching platform, has enhanced its offering by forming a partnership with Locally, a technology that enables consumers to see which shops locally sell the items and brands they want to buy.
Price.com already enables consumers to locate where the products they want can be obtained on a new, used, refurbished or rental basis.
“We want to level the playing field for all retail environments — new, used, refurbished, rental — and now local. By covering all marketplace options, we can provide optimal choice for consumers,” said RJ Jain, founder, chief executive officer and chief technology officer of Price.com, who revealed the partnership with Locally at the WWD CEO Summit on Wednesday.
“Our innovative and highly precise location technology merges physical places and digital devices with powerful artificial intelligence and machine learning models. Unlike price comparison sites, Price.com makes it easy for consumers to shop across all marketplaces with one search,” said Jain. Price.com, Jain added, searches “thousands of stores in seconds” to provide shopping options to help consumers save money.
“We’re excited to partner with Price.com to offer shoppers a convenient way to buy locally,” said Locally president Mike Massey. “Together, we can give shoppers the option of buying from local merchants with the same ease as buying online.”
Price.com was founded in 2016 and has raised $5.2 million in seed money.
Investors include Founders Fund, Social Capital, Zynga founder Mark Pincus, MetaMind founder and chief scientist at Salesforce Richard Socher, OWC founder Larry O’Connor, and NBA star Baron Davis.
Jain is a computer scientist and engineer who cofounded Appurify, which was acquired by Google and now powers Google’s Test Labs. He also ran engineering teams at Sidecar and Zynga and was entrepreneur-in-residence at venture capital firm Foundation Capital.
Price.com, in addition to providing a consumer experience, licenses its technology to other businesses such as Goodwill, Macsales.com and Slyce Technologies.
Locally enables thousands of stores to present their in-store selections to nearby shoppers who are shopping online, and provides last-mile fulfillment options like in-store pickup and same-day delivery. When consumers use the Price.com extension, they will continue to see comparisons from thousands of merchants, but will now also see options to finish their purchase at a store near them. Technology deployed by Locally is known as location data intelligence.
The first brand to incorporate Price.com’s local integration is Brooks Running. Other brands are expected to be integrated.
Price.com currently matches products across more than 1,400 merchants including Amazon, Jet, Walmart and Macy’s for new products as well as Poshmark, StockX, Goodwill and eBay for used products. For renting products, Price.com matches up with Rent the Runway, Le Tote and Bag Borrow or Steal, and for refurbished products, Price.com matches up with MacSales, VipOutlet and Back Market.