Mavatar Personal & Smart Cart Raises One Million Dollars In Seed Funding From Super Angels

Mavatar Featured at Elite Technology Events in San Francisco at #SFBeta iOS Edition, Tech Crunch Disrupt 2013 Start-Up Alley in NYC and Women 2.0 Pitch SF

MENLO PARK, Calif., April 24, 2013 /PRNewswire-iReach/ -- Everyone from a busy mom to the savviest fashionista will never shop online the same way again. Mavatar Technologies has developed a free downloadable iPad app and web browser add-on that allows consumers to save time and money by using one smart cart for comparison shopping across multiple top retailers while also searching through terabytes of data in seconds to find all valid coupons and promo codes available. Mavatar automatically applies the discounts to the selected items in the cart, ensuring that the consumer knows the true price and receives the best possible deal online.

(Photo: http://photos.prnewswire.com/prnh/20130424/CG00152)

Mavatar changes the online shopping experience to make it streamlined and organized. The app allows users to create one wishlist with all their coveted items in one place, regardless of the store, thus eliminating the need to manage multiple lists…making birthday, holiday, and wedding shopping for loved ones much simpler, more fun, and efficient. Additionally, Mavatar users can store their personal coupons in one place, making it easy them with friends and family.

The app supports favorite brand name stores such as Macy's, Nordstrom, Neiman Marcus, Banana Republic, Gap, and Old Navy, as well as other top retailers such as Bloomingdale's, Athleta, Bergdorff Goodman, Horchow, Last Call, Piperlime and newly added Saks Fifth Avenue, Levi's and Quicksilver. The company is adding more stores at a rapid rate and soon plans to have hundreds of them supported through its platform.

Mavatar Technologies has received $1 million in investment capital from former Facebook CPO, Chris Kelly, scientist and award-winning retired Stanford Graduate School of Business lecturer, Jeffery Moore, CEO of Triton Systems, Ross Haghighat, and Medical Director of Pain Specialists of Orange County, Dr. Afshin Graveli and his wife Anousheh. The Company also boasts an Advisory Board consisting of industry leaders within technology and retail such as the CEO of Yves Saint Laurent, Paul Deneve, former Chief Privacy Officer of Facebook, Chris Kelly, former CEO of Filene's, Jerry Socol and User Experience Guru, Mitch Stein who has worked with Apple, IBM, and Oracle.

"We're extremely grateful for our investors' and advisors' dedication and support of our company. Their insight, industry knowledge, and commitment to Mavatar is allowing us continued growth and potential of making a big impact in the online shopping space," says Dr. Brom Mahbod, co-founder and CEO, Mavatar Technologies Inc.

Mavatar will be debuting this game changing, innovative technology to the public at two upcoming popular tech events; TechCrunch Startup Alley, part of Disrupt NY 2013 from April 29-May 1 and #SFBeta iOS Edition in San Francisco on May 8. The company is honored to be participating in the same prestigious events that have helped launch other numerous innovative and successful companies.  Mavatar presented at the Women 2.0 conference on February 14th in San Francisco as one of the 10 finalists in the Pitch SF competition, the company was selected among 290 applicants.

It was during a class at the Stanford Graduate School of Business that the idea of Mavatar was born, the professor was key seed investor, Jeff Moore, the topic was user data and the student was 2010 graduate, Susan Akbarpour, co-founder and President of Mavatar. "We're excited to demonstrate and unveil Mavatar's magic at these upcoming events, showing the attendees we are providing shoppers with one personal and smart shopping cart that is the universal gatekeeper for all items; wishlists and coupons….and most importantly is social! We are excited to show off our hard work to potential new users."

About Mavatar Technologies

Mavatar Technologies, Inc. is a privately held company that offers a smarter online shopping solution by combining patent-pending technology with a superior user experience. The company's core technology consists of a universal shopping platform that allows users to comparison shop across multiple retailers at the same time while applying all prom­­­otions available to purchases automatically. For the consumer, Mavatar delivers a simplified and personalized shopping experience with the best pricing. For the merchant, Mavatar helps to reduce cart abandonment while strengthening brand identity and marketing efforts. The company was founded in 2011 and is located in Silicon Valley.

For more information, please go to www.mavatar.com or visit Mavatar on Facebook, Twitter and Pinterest.

To view this video on YouTube, please visit: http://www.youtube.com/watch?v=A7nGW8ovO_Q

Media Contact:
Alexandra Skillman, Mavatar Technologies, Inc., 415-342-6425, PR@mavatar.com

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE Mavatar Technologies, Inc.



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Internet Technology, Bridal Services, Fashion, Retail, Electronic Commerce, Venture Capital, New Products & Services



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