01|28|2011 10:49 am EDT
ShopWiki is a international internet shopping comparison search engine which was founded in 2005 and was majority owned by the growth equity firm Generation Partners. The company currently serves 11 countries in North America, Europe and Australia. The sites jointly list nearly half a billion consumer offerings. The acquisition is the first in the consumer retail space for Oversee’s expanding Vertical Markets division, which is further developing the company’s contextual search and comparative results capabilities to create site experiences that help consumers make purchase decisions.
Oversee, which operates successful comparison sites in the travel and financial services sectors like LowFares.com™ and CreditCards.org, was attracted to ShopWiki because of its potential to serve as a cornerstone of Oversee’s retail presence. “ShopWiki is the most comprehensive shopping search engine in the market,” said Oversee CEO and President Jeff Kupietzky. “The acquisition is a perfect fit with our ability to apply our expertise in acquiring and managing Internet traffic to improve comparison and buying decisions for consumers.”
ShopWiki CEO Rory Cumming was attracted to Oversee for similar reasons. “Oversee provides services for over 10 million domain names and has unique insight into consumer preferences and Internet traffic,” he said. “Through contextual search, consumers who navigate through Oversee’s network of names will see relevant offers more often with ShopWiki.” Cumming will serve as Oversee’s General Manager, Retail, and will continue to run the property from New York as a wholly-owned subsidiary of Oversee.