MySmartPrice, the online shopping comparison website launched by Odia boy Sitakanta Ray and Sulakshan Kumar worth Rs 300 crore now.
Sitakanta Ray is a 34-year-old first generation entrepreneur from Cuttack, Odisha. His partner Kumar is from Lucknow.
The website that started with two laptops and an internet connection from a home office in Hyderabad, is now a Rs 300-crore company with more than seven lakh visitors a day.
MySmartPrice.com lets one compare the prices of products across a wide range of categories. It ranges from mobile phones and electronics gadgets to fashion and lifestyle products.
With the mushrooming of online shopping portals, finding the best deal for a particular item can surely be an arduous affair. But thanks to the Odia boy’s initiatives, the task of choosing a product and comparing the prices is a cakewalk now.
Both are mechanical engineers, who graduated from National Institute of Technology, Rourkela, in 2002, turned their backs to high-salary corporate jobs to start their own venture back in 2010.
“Starting something of our own was always on the back of our minds and in 2010 we thought if not now, then never. By that time, it was a known fact that e-commerce was going to be a big thing. Indian netizens were increasingly addicted to online shopping. My Smart Price helped shoppers make an informed decision and find value-added deals,” said Sitakanta Ray.
The duo left their jobs at Oracle in Hyderabad to launch the portal, which at first compared prices of books. Now, the site deals with products across a wide range of categories including mobiles, electronics goods, gadgets, fashion, lifestyle and personal care items. Products worth Rs 60 crore are sold from the site every month.
But lack of capital and expertise were some of the constraints they faced. As luck would have it, the duo received a bulk amount from an investment company that wanted to support their venture. The initiative that began with two people now has over 100 people.