PriceRunner is a price comparison service launched in Sweden in 1999. It allows users to compare prices on a wide range of products across multiple retailers. The company is headquartered in Stockholm, Sweden, and operates in Sweden, Denmark, and the United Kingdom.
History
PriceRunner was founded in 1999 by Kristofer Arwin, Magnus Wiberg, and Martin Alexanderson. It was originally financed by the venture capitalist group Cell Ventures, which was later acquired by NewMedia Spark. The service launched in the UK and Denmark in 2000. Initial plans for pan-European expansion were scaled back in 2002 after poor financial performance led to the closure of some regional services.
In August 2004, PriceRunner was acquired by ValueClick, an online media company, for £16 million ($29 million). Following the acquisition, the company expanded into France (August 2004), Germany (October 2004), and the United States (October 2005). In 2006, it launched a partnership with the UK phone-based service 118 118 to provide price information via SMS. That same year, MSN announced that its shopping sites in France and the UK would be powered by PriceRunner and Shopping.com.
In November 2013, ValueClick sold its global media properties—including PriceRunner, Investopedia, and Coupon Mountain—to IAC for a reported $80 million. In March 2016, PriceRunner was sold to the Swedish firm NS Intressenter. In 2020, CEO Nicklas Storåkers and the investment firm eEquity purchased Nordstjernan's ownership stake, with co-founder Magnus Wiberg returning as an executive board member.
In March 2022, the Swedish financial supervisory authority Finansinspektionen approved the acquisition of PriceRunner by the Swedish fintech company Klarna. PriceRunner officially became part of Klarna on April 1, 2022.
Technology
PriceRunner uses a combination of screen scraping of retailers' websites and data files supplied directly by retailers. Prices are matched against a backend database using a fuzzy logic automatching system, supplemented by manual administration.
Business Model
PriceRunner operates on a pay-per-click advertising model, where retailers pay when users click through to their sites. It also generates revenue through web banners provided by its sister advertising network.
Key People
- Mikael Lindahl – Key figure (listed as key person)
- Nicklas Storåkers – Former CEO
- Magnus Wiberg – Co-founder and former executive board member
Ownership
| Period | Owner |
|---|---|
| 1999–2004 | Cell Ventures / NewMedia Spark |
| 2004–2013 | ValueClick |
| 2013–2016 | IAC |
| 2016–2022 | NS Intressenter / eEquity |
| 2022–present | Klarna |
