Search Engine Retrevo Closes $8M Financing!
Retrevo is all about solving a really hard consumer problem. So what’s the big deal about Retrevo closing another round of funding? What’s so significant about it? They explain:
As a result of our innovation and successful execution, we were in a position where our current investors wanted to put up a lot more money so we could accelerate the pace of innovation and consumer adoption.
We launched the Retrevo Product Advisor last fall. This product was extremely well received by both consumers and industry influencers in consumer media. With this product we worked very hard to make shopping for complex and confusing electronics products easier for everyday consumers. The Retevo Product advisor is one example of the innovation we introduced last year.
But how does Retrevo approach the problem space in general? We get hundreds of specific ideas and comments from our users every month and we make it a point to read every one of them and respond appropriately. At the end of the day, we are determined to make electronics purchases and ownership enjoyable for everyday consumers.
We are cognizant of the fact that some of our interaction with our users is not monetizable and some of it is. The driving principle for us has always been (and will continue to be) to provide our audience a wholesome experience - whether a particular touchpoint is monetizable or not. This is a significant statement but one that drives our behavior as we venture on to bigger and bolder projects.
With this funding comes the realization that we are still scratching the surface and have much to do! Entrepreneurs take pride in taking up more challenges, challenge the status quo and do the impossible. Taking more money can add lot of stress because a lot more is at stake and that can make investors nervous (and look for return/exit). Our investors Alloy and NVP continue to challenge the status quo, encouraging us to think long-term and build a service that “matters” to everyday consumers. They both have been around long enough so as not to look for quick exits. Add to that the passion and determination of the team, and it starts to shape the character of the company that empowers every individual to make the right decision without lot of micro-managing.
To vote for Retrevo in the Webware Top 100 Web 2.0 sites competition, click here.
