Media Cube Resident Profitero was announced the IBM Global Entrepreneur of the Year at the IBM SmartCamp Global Finals in San Francisco, California on February 2. Profitero beat off strong competition from around the globe to win the title.
IBM SmartCamps are designed to provide entrepreneurs with the mentoring and insight needed to innovate in their markets. Past participants from IBM SmartCamp competitions have captured the attention of the venture capital community with nearly $50 million in investments, and have expanded to new global markets.
Profitero helps its clients increase sales and maximise profits by leveraging high-quality online competitive data at scale. This, in turn, allows businesses to react quickly to changes in their competitors’ prices. To date, retailers and manufacturers have found Profitero’s data essential for pricing strategy, forecasting, price management, merchandising planning, product promotions, and market/brand positioning. Profitero is currently monitoring 27.5 million products across 2,500 European retail websites, and it plans to grow this to 100 million products in 2012.
“We are honored to be named the IBM Global Entrepreneur of the Year,” said Volodymyr Pigrukh, chief executive officer and co-founder, Profitero. “Our solution is a natural complement to IBM’s smarter commerce strategy. We are looking forward to working with IBM and its network of technical experts, business partners, venture capitalists, academics and clients to capture our share of the smarter commerce opportunity.”
