Ugenie has developed an algorithm that searches about 40 web sites for information about prices of books, movies, music, and games to come up with the cheapest bundles that consumers can buy from these shopping sites.
More web sites and other items will be added to the basket as the team ramps up. Electronic goods, computers, home appliances, and other goodies will be added in the next three to six months.
While searching for the cheapest bundles, the Ugenie engine takes into account discount coupons currently on offer by merchants as well as shipping costs per delivery.
A clean and easy to use interface, Web 2.0 features such as pop-up screens showing details of a selected item in a blurb, a virtual coupon-gathering mechanism, and a user-generated tagging facility make Ugenie “a neat solution,” according to Promod Haque, a partner at the venture firm Norwest Partners.
“Still, it’s a crowded arena,” he added, wondering how Ugenie would stand out from the pack.
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