Profitero wins Innovation Cubed 2010 competition

6 Jan 2011

Digital retail analysis start-up Profitero has won the Innovation Cubed 2010 competition held by the business centre Media Cube in Dun Laoghaire.

This is its second win over the past year, having already won a Seedcamp New Business Funding Award in the best start-up business category.

Profitero is an easy-to-use web dashboard that empowers a company’s pricing team, giving them accurate data on multiple competitors and thousands of online products on a daily basis.

With Profitero you can monitor and analyse your competitors’ online prices, stock availability, shipping costs and benchmark your product prices against your competitors.

Volodymyr Pigrukh founded the company further to building up extensive experience with technology, sales and marketing, having worked at Microsoft, Accenture and Google.

Prior to that he had his own mobile phone business where he learned first-hand how a competitive retail industry works. It was here that he learned that by keeping track of competitor price changes he could influence and maximise his sales and company revenues.

Innovation Cubed competition

The Innovation Cubed competition, backed by Microsoft, Enterprise Ireland, Bank of Ireland and local government, launched in early December offering a prize of a year’s free office space worth €7,500 based in the modern fast broadband facility, Media Cube.

Speaking about the competition, Media Cube manager Martin Hogan said: “This initiative arose from recognising that reports extolling the virtues of supporting the smart economy were virtually worthless unless practical supports were offered to high quality start-ups and SMEs focusing on digital media.”

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