MySuperMarket Raises $7.4 Million, Won’t Be The New WebVan

Israeli startup MySupermarket, UK’s independent grocery shopping and comparison site, has completed a new round of investment of $7.4 million, led by Greylock and Pitango. The company has raised $22 million to date. Along with the announcement of the founding Mysupermarket has also made some significant changes in its managament team, by adding Alon Bloch as CEO,  replacing the founder Amir Ofer. Bloch was previously a partner in Jerusalem Venture Partners and an active member of the board in the Israeli startup Wix.

MySupermarket is currently operating in the UK only, as an ecommerce aggregator which creates channel for users to compare and buy FMCG products online from the leading supermarkets in Britian: Tesco, ASDA, Sainsbury’s and Ocado, an online channel on its own right, by letting users fill a virtual trolley or compile a printable shopping list. In addition, MySupermarket developed a technology which shows the nutritional values of food products, to help the user decide between competing brands.

"You can compare prices, calories and supermarkets to get the cheapest and healthiest trolley possible. "

To date, MySupermarket is comparing 60,000 products and serving about 1 million unique users a month. Its business model consists of advertising and selling the behavioral purchasing data of its consumers – including brand loyalty and frequently searched for products. The data is sold on a separate site called mySupermarket Insights, which provides manufacturers, retailers and other FMCG analysts with a quick and easy way to keep track of prices and promotions in real-time. The site offers instant access to clear and concise tables, graphs and Excel reports showing current price and trends over time for all the categories, brands and retailers.

Started in October 2006, Mysupermarket currently has a team of 35 people and is looking to expand further, both geographically and  on the product front, by adding a mobile offering soon. All signs show that Mysupermarket is progressing nicely and is likely to avoid the faith of WebVan, an online grocer that will always be remembered as one of the largest (and most expensive) failures in the history of the web.  Another interesting company operating in the space is Alice.com, which enables users to buy FMCG directly from manufacturers.

Eze Vidra
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Eze Vidra

Chief Innovation Officer at Antidote
Eze is the Chief Innovation Officer at Antidote, a startup helping patients search and match to clinical trial, to accelerate medical breakthroughs. Previously, Ezewas a General Partner at Google Ventures Europe. Before GV, Eze founded and led Campus London, Google's first physical hub for startups, and was the Head Google for Entrepreneurs in Europe. He's an experienced product manager and startup mentor. In 2012 Eze founded Techbikers, a non-for profit supporting children education in developing countries.
Eze Vidra
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Eze Vidra

Eze is the Chief Innovation Officer at Antidote, a startup helping patients search and match to clinical trial, to accelerate medical breakthroughs. Previously, Eze was a General Partner at Google Ventures Europe. Before GV, Eze founded and led Campus London, Google’s first physical hub for startups, and was the Head Google for Entrepreneurs in Europe. He’s an experienced product manager and startup mentor. In 2012 Eze founded Techbikers, a non-for profit supporting children education in developing countries.