mySimon Secures Investment from e-Citi and Intel

Strategic Insights -

mySimon, inc., a leading comparison shopping site, has announced that it has received investments from e-Citi, the e-commerce unit of Citigroup, and Intel Corporation. The investment, amount undisclosed, is a significant addition to the $21 million raised by mySimon in its last round of financing this summer. The new investment will support a national branding campaign for mySimon and the continued enhancement of its service.

Key Takeaways:

  • mySimon has secured investments from e-Citi and Intel, joining other investors such as Brentwood Venture Capital, Marquette Venture Partners, and The Sprout Group.
  • The investment will support a national branding campaign for mySimon and the enhancement of its service.
  • mySimon is the premier Internet e-commerce hub focused on comparison shopping, offering unbiased information on how and where to buy all types of products online.
  • The company's service includes pricing, availability, detailed merchant information, shopping guides, product reviews, and personalization tools in over 200 categories from over 2000 online merchants.
  • mySimon's Simon to Go application allows users of 3Com's Palm VII to access the mySimon shopping service wirelessly.

Statistics:

  • $21 million: amount raised by mySimon in its last round of financing this summer
  • Hundreds of millions of products: number of products searched by mySimon
  • Thousands of stores: number of online stores searched by mySimon
  • 200 categories: number of categories available on mySimon
  • 2000 online merchants: number of online merchants listed on mySimon

Sources:

  • "mySimon Secures Investment from e-Citi and Intel" (PRNewswire, Nov. 30)
  • PC Magazine, Editor's Choice, October 29, 1999
  • http://www.mysimon.com
  • http://www.citigroup.com