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DealTime, the leading online comparison shopping service, connects consumers who are ready to buy with merchants who want to sell a wide variety of consumer goods and services. Through its website, DealTime empowers consumers with the ability to compare models, brands, merchant types and prices from merchants across the Web, as well as offline sellers.
One of the founders of DealTime.com, Nahum Sharfman is the guiding force behind the company's vision to help consumers benefit from the dynamic nature of e-commerce. Prior to DealTime, Sharfman co-founded CommTouch Software Ltd. (NASDAQ: CTCH) in 1991 and led the organization as chief executive officer from its original focus on corporate e-mail products and services to its current focus on branded free e-mail solutions for consumers.
Based on our long history of close cooperation at CommTouch, Koret Communications was invited to develop the initial DealTime website. After studying the company's product and target market, KC proposed that DealTime reconsider its original business model, which was to compel consumers to download a compact client application onto their desktops to serve as the comparison shopping and last-minute deal agent. Instead, KC suggested that DealTime show some available "deals" on the web site and let consumers customize their search to refine or expand the comparison criteria.
This ASP business model became the winning formula for DealTime. In just over a year, the company has emerged as the world leader in the comparison shopping category: a multi-national private company, venture-backed by key strategic and financial partners worldwide including America Online, Time Warner, Bank of America, Singapore Telecom and others. Based on the last round of investment in February 2000, DealTime is currently valued at $225 million.
While DealTime took its web development capabilities in-house to maintain total control over the user experience, Koret Communications takes pride in its role in setting this e-commerce superstar on the right track to success.
