– CartCrunch –
shoppers are looking for shopping experiences that are not only user friendly and filled with quality products, but that are cost-effective as well
In a world suffering from a recurring economic crises with countries plunging into debt while the cost of living continues to rise, consumer awareness is greater than ever and market populations are looking for shopping experiences that are not only user friendly and filled with quality products, but that are cost-effective as well.
With the rampant use of smartphones, geo-tracking technology and social, the ground work has been laid out for a specialized application to come along and address this issue.
Eyal Yair, Eyal Molad and Eylon Ohevya founded CartCrunch in early 2012 to be that application. The three began to test different solutions that allow users to compare on the spot prices at different locations. They created a shopping list and began their research by going to various local supermarkets and checking out prices. One of the biggest inherent problems with such lists is that prices vary from day to day, even within the same location.
The founders were surprised to find that there’s often a 10%-30% discrepancy in prices of the same product in the same town, so they decided to develop a solution based on crowdsourcing that they believe will solve for this issue. The result was CartCrunch, an app that allows users to take pictures of their receipt and which then updates the network as to that particular location’s prices for the items purchased…
…After four months of work, CartCrunch has already raised $1M in investment from LionBird, Plus Ventures, Jeff Pulver, MicroAngel Fund and Techstars.