DGAP-News: LetsBuyIt Group AG: Technical innovation by technological platform AIRLAB
(firmenpresse) - DGAP-News: LetsBuyIt Group AG / Key word(s): Miscellaneous
LetsBuyIt Group AG: Technical innovation by technological platform
AIRLAB
10.04.2012 / 08:30
---------------------------------------------------------------------
Corporate News from April 10, 2012
LetsBuyIt Group AG: Technical innovation by technological platform AIRLAB
- Full automation means considerable time savings for customers
- Significant reduction of operating costs
- Fixed monthly fees replace the Cost per Click revenue model
Zurich, April 10, 2012. LetsBuyIt Group AG, parent company of the website
LetsBuyIt.com, and operating a fully automated online price comparison
portal with Social Shopping Services, announces details about their highly
sophisticated technological platform AIRLAB (Artificial Intelligence
Robot), a specialized data integration engine providing a high data
processing capacity. Thus, AIRLAB can capture very large data volumes,
process several million offers on the platform and implement comprehensive
updates within a short amount of time. In doing so, the price comparison
portal of LetsBuyIt Group AG eliminates the time consuming manual
categorization and updating of data on the website. The full automation of
these processes means considerable time savings for the customers.
By using AIRLAB, LetsBuyIt was further able to reduce the number of the
process steps required to run an efficient price comparison website, which
thus reduces operating costs significantly and enables the break-away from
the previous Cost per Click revenue model, which is associated with high
costs for the numerous small merchants. Instead, LetsBuyIt Group AG will
charge a fixed monthly fee on their website, which means considerable cost
savings especially for small merchants and will thereby generate another
competitive advantage.
'With our fully automated system AIRLAB, we are claiming a unique position
among our competitors and turn into a technological innovator within the
industry. Merchants, who either don't have the time or offer too many
items, preventing them from updating their prices on a regular basis and in
a timely manner to thus remain competitive, are in particular benefiting
from this development. At the end, in a market place where a small
difference in price or product variation can affect the result of a sale,
it is crucial to be able to offer the very latest and up to the minute
deals for your shoppers. The technological possibilities of AIRLAB are
decreasing the operating costs significantly and give us the opportunity to
become a leading price comparison portal,' said Izzet Guney, chairman of
the board of directors of LetsBuyIt Group AG.
'With the relaunch of LetsBuyIt we knew that we needed a clear
technological advantage in comparison to our competitors in order to reach
a leading position. After a two year research and development period of the
system's algorithms and artificial intelligence, we are significantly
different from other European price comparison sites. Today, AIRLAB is able
to import data volumes of up to one million items within one minute to one
individual server. Any changes made by the merchant, for example relating
to the price, delivery time or the available inventory, are detected
automatically and will have an immediate effect on the corresponding
entries on the website. Other price comparison portals usually make these
changes either on a daily or weekly basis, have dozens of employees to edit
catalogues, categorize products and match data. In contrast, the LBI group
is thereby able to avoid these significant staffing and HR costs,' said
Emmanuel Noirhomme, managing director of LetsBuyIt.com.
About Letsbuyit
LetsBuyIt.com is a platform providing online price comparison and social
shopping services.
LetsBuyIt is currently active in France, Germany and United Kingdom with
three different website versions.
The Company currently reports in its websites over 50 million products sold
by more than 1,500 different merchants. LetsBuyIt makes continuous and live
updates of its product database and indexes new merchants with their
products on a daily basis.
LetsBuyIt allows customers to purchase products at the lowest possible
price by providing on its website all the actual best practices of online
shopping. The aim of the Company is to become the leading shopping portal
and an e-commerce online community meeting point. Indeed, distinctive
features of LetsBuyIt are the social tools which give customers the
opportunity to exchange opinions on their buying experiences, products etc.
For further information please contact:
pr(at)letsbuyit.com
LetsBuyIt Group AG
Emmanuel Noirhomme, Manager
Phone: +33 1 83 64 77 38
Leander (Investor Relations and Media Relations, UK)
Christian Taylor-Wilkinson
Phone: +44 (0)7795 168 157
End of Corporate News
---------------------------------------------------------------------
10.04.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
164234 10.04.2012
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 10.04.2012 - 08:30 Uhr
Sprache: Deutsch
News-ID 133101
Anzahl Zeichen: 6361
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 263 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: LetsBuyIt Group AG: Technical innovation by technological platform AIRLAB"
steht unter der journalistisch-redaktionellen Verantwortung von
LetsBuyIt Group AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
