Rocket Internet has launched its price comparison site PricePanda in Thailand. The site, which is also backed by Tengelmann Group and AB Kinnevik, already operates in eight countries throughout Latin America and Southeast Asia.
In a statement, PricePanda co-founder Christian Schiller said “with 66 million inhabitants and a growing and increasingly affluent middle class, Thailand is one of the most attractive and flourishing markets.”
The country, which has an Internet penetration of about 30%, is an especially promising market for e-commerce. According to a 2012 survey by Mastercard, 80% of Internet users in Thailand have shopped online.
PricePanda announced in January that it had raised $3 million from German retailing giant Tengelmann Group. At that time, it said that the funding will be used to expand in South Asian markets. The site lets shoppers compare prices and reviews for products listed on different e-commerce stores. PricePanda’s version for…
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