IMshopping Launches First Ever Twitter-Based Shopping Service and Announces $4.7M in Series A Funding From SK Telecom

The Experience of Going Into a Retail Store and Talking to an Expert Now Brought
to Twitter and Web
SANTA CLARA, Calif.--(Business Wire)--
With millions of products and a confusing scattering of retailers on the Web,
researching consumer products has become a time-consuming and frustrating
experience. Now, relief has arrived. Today IMshopping
(http://www.imshopping.com) officially launches in beta as the first
human-assisted shopping website and Twitter shopping service
http://www.twitter.com/imshopping where knowledgeable shopping guides respond to
product questions and provide personalized recommendations for users. It`s like
a Shopping 411 information service. The site offers the experience of going into
a store, speaking with a knowledgeable expert and being guided to the best
products for your needs.

The company is also announcing that it has closed a $4.7 million Series A round
of funding from SK Telecom with Min Park and Soo-Hyuk Lee, both SVPs at SK
Telecom joining the board.

IMshopping delivers a mix of recommendation technology and real human
assistance, aiming to create a more efficient way to find products online. The
company`s research has shown that consumers are now more interested in getting
hard-to-find answers to specific technical and qualitative questions, while most
e-commerce sites are primarily focused on price and reviews. This deeper level
of e-commerce allows consumers to receive a higher level of personal service on
the web and make better buying decisions.

How It Works:

Twitter users can directly ask questions by messaging @imshopping. The shopping
guides in the community and trained experts offer detailed responses within a
short period of time, usually in less time than it would take to drive to Best
Buy or Home Depot, wait in line and get your question answered. Shoppers can use
these responses to instantly make purchases or save to their own folders before
making a product decision.

Online shoppers can instantly look for specific products, search IMshopping`s
database for product questions that have been already answered, or pose their
own shopping questions.

As shopping guides craft their response, they review a detailed analysis of the
product, including specifications, reviews from third-party sites, blog buzz and
price. This response is then delivered to the shopper and also archived
anonymously for review by future shoppers. All public questions and responses
are searchable via Twitter or can be viewed by following @imshopping. Today the
site launches in beta with 20,000 questions already answered and available for
public search. An example of questions already answered can be found at
http://search.twitter.com/search?q=imshopping.

IMshopping CEO and Founder, Prashant Nedungadi, is a pioneer in e-commerce who
previously co-founded Andale, the largest third-party tool provider on eBay.
Nedungadi successfully merged Andale with Vendio, one of the premier small
business e-commerce players.

"We believe human assistance will create a deeper level of e-commerce
satisfaction that doesn`t exist on the Internet today," says Mr. Nedungadi.
"There is a lot of information out there, but very little help when online
shoppers need specific answers that will make or break their purchasing
decision. At brick and mortar stores, human experts fill such a void, but on the
web, it doesn`t exist. We developed IMshopping to bring the same level of
personalized assistance to online shoppers. Twitter is the ideal medium for
having a conversation; Online shoppers have the option to communicate privately
with the expert on Twitter, or publically so others can benefit from the right
choices."

About IMshopping

IMshopping brings a human touch to shopping on the Web. We make finding products
easier with the help of real people who search out deals, read reviews and share
this valuable information with you and the greater community. The company is
based Santa Clara, California and is backed by SK Telecom.

VSC PR for IMshopping
Vijay Chattha, 415-305-6041
vijay@vscconsulting.com

Copyright Business Wire 2009