Many consumers find it difficult to navigate through today's flourishing e-commerce landscape and have trouble comparing prices across shopping websites. BigGo's price comparison search engine allows users to quickly find and compare over 3 billion price listings and discounts, delivering best-of-breed, high-performance, and valuable shopping assistant services that help consumers easily compare offerings across major e-commerce platforms and make smart purchase decisions. According to BigGo CEO Dewei Yen, BigGo's intelligent search capabilities enable a diversity of applications to help both B2C and B2B service operators deliver premium user experience end to end.
Yen founded BigGo in 2016, when Taiwan's e-commerce landscape underwent significant changes with foreign e-commerce operators expanding into Taiwan one after another. At that time, consumers had to switch between different online shopping platforms to compare prices. Yen developed a price comparison system for his own use when shopping for his family.
Seeing how his system could also make online shopping more efficient for other consumers and this could be a good business opportunity, Yen decided to commercialize it by launching the BigGo price comparison website. Online price comparison was exactly what Taiwan's e-commerce market needed at the time so BigGo was enthusiastically embraced. Its single-month active users exceeded one million within just one year after launch.
Leveraging comprehensive price comparison services, BigGo expands its footprint
Yen noted that BigGo is much more than a price comparison website. It is an all-encompassing shopping assistant offering cross-platform price comparisons, BIRSE image search, social media comment checks, price monitoring, and product description generators. For price comparison, users can quickly compare prices of goods on major e-commerce platforms, whether it's B2C or C2C. Its image search engine is based on advanced technologies similar to LLM-based AI systems.
Instead of simply comparing images by colors and shapes, BigGo's image search engine accurately captures the images' content and style so it is particularly good at conducting searches for merchandise not easily described in words. Furthermore, BigGo incorporates searches for social media posts and short videos so that users can check unboxing videos before they decide to place an order. With these features, BigGo services cover the entire shopping process from start to finish.
It was found that users generally compare prices on BigGo five minutes before they decide to make a purchase, added Yen. BigGo hopes to expand its footprint and play a more vital role in users' shopping process, starting with initial information gathering, mid-stage price comparison, and final purchase decision-making. On BigGo, users can search for goods using texts or images, check social media posts, compare prices and discounts across different platforms, and finally go to the platform of his or her choice to complete the transaction.
As to the business model, BigGo generates revenue from advertisements and commissions. For example, it gets paid for the Google AdSense banners on its website. It also gets paid by e-commerce operators when consumers directed from BigGo make a purchase on their platform.
Apart from the two revenue sources, BigGo continues to actively expand its service offerings. In 2021, it began to develop price monitoring services that help e-commerce operators keep an eye on their prices against those of their competitors. With such services, e-commerce operators can stay aware of market changes and remain agile with their pricing strategies.
Boasting comprehensive services, BigGo enjoys an 80% share of Taiwan's price comparison website market. It is also making active efforts toward overseas expansion with a focus on Southeast Asia. It is the No.1 price comparison website in Thailand and Indonesia while operating online services in the US and Japan.
According to Yen, built on a uniform platform design, BigGo provides services in different languages to meet local market needs. Among the world's very few cross-border price comparison websites, BigGo will endeavor to provide even more comprehensive services.
BigGo home page and short video interface. Credit: BigGo
A positive startup environment nurtures BigGo while TTA and Orbit Startups provide valuable support
Yen thinks the support from Orbit Startups and TTA plays an instrumental role in driving the successful commercialization of his search engine and helping BigGo gain a foothold in the fiercely competitive market. Orbit Startups' Lifetime Program is aimed at not only initial-stage funding but also long-term partnerships. Orbit Startups keeps watching BigGo's progress and helps find business opportunities whenever BigGo introduces new services.
TTA gave BigGo assistance when it was first established. For example, TTA offered a promotional platform for business partnerships, a venue for BigGo to hold product/service launch events, the use of office space, and especially opportunities to participate in all types of events and presentations. These have greatly benefited BigGo and other online service providers.
In sum, Yen thinks Taiwan's startup scene is developing in a positive cycle. He hopes that industry-government-academia collaborations will continue to improve Taiwan's startup environment and invigorate Taiwan's e-commerce and technology development.
Going forward, BigGo will continue to endeavor toward big data analytics and machine learning algorithms and strengthen its leadership in the price comparison website as well as e-commerce markets. It will stay committed to creating more intelligent and convenient shopping experiences for consumers.