myZingo e-commerce services Pvt Ltd launched its flagship offering
www.buytheprice.com this month. Buytheprice is an online B2C shopping portal
that is built on research of consumer behavior and cutting edge technology -
E Commerce 2.0. This is the first time in India that E-commerce 2.0 has been
used in an online shopping portal.

With E-Commerce 2.0, buytheprice plans to introduce a completely new concept
of online "social" shopping along with providing a fast, easy and secure
shopping experience. The site will provide enhanced value proposition to the
consumer and give him more reasons to choose online shopping over physical
shopping.

Using E-commerce 2.0, buytheprice can track the demand for a product. The
higher the demand for a product, the lesser the price becomes. The advantage
of this is that an individual consumer benefits from many others who intend
to make the similar purchase. This revolutionary technology would help map
the real time demand and supply which can offer better savings for the
consumer
Another important aspect of buytheprice.com is the use of twitter as one of
the customer care channels. Customers can make enquiries and raise tickets
by tweeting on @btpcare, which is also a first in India.
Currently the website has the 10 best deals that span across categories,
where one can be assured of the best price on the product. Later, it would
scale up with dedicated 10 deals for each category, as and when the demand
is shown by the people. Rather than taking an approach of opening a portal
with thousands of SKUs, buytheprice.com prefers to start with fewer but very
effective deals and scale up.
myZingo is founded by Ranjith Boyanapalli, who formerly headed the eTail SBU
at eYantra Industries Ltd and is a name associated with the online retail
business in India. He is an alumni of IIM Indore.Tharachand Suryadevara and
Jagdish Kothapalle, co-founders of myZingo come with an IT expertise.
The company has invested Rs 35 lakh on the portal and plans to raise USD 1
million venture capital fund over the next three months for its expansion.

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