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Part 1. How Prix got started.

Jens Munch, CEO
May 21, 2017 - 1 min read

Prix was born in January of 2017.

See that first investor-deck here.

The vision for Prix came from a synthesis of two areas of interest. Firstly, my focus at iZettle on solving the biggest pain-points of small businesses. Secondly, a fascination with machine learning and the fantastic success of Alpha Go in beating Lee Sedol at Go.

Why, I thought, couldn’t pricing be fully automated to optimise for efficient allocation between supply and demand. Why couldn’t Uber surge-pricing be applied to almost anything that had dynamic supply and demand? What would the world look like if we can get small businesses an extra 10% of revenue?

Already in 2016 I had built a prototype together with Galina Shubina, an ex-Googler I knew and trusted. Later that year I came into contact with John-Paul Clarke who became my co-founder. A month or two later I hired an intern to work with me on developing the product.

On this prototype, a strong story and team, we were fortunate enough to raise 12 months worth of funding from Speedinvest, Blue Lagoon and a host of angels. See Part 2 to find out what happened (humble-click-baiting)!

Also read Part 1 of this series Also read Part 2 of this series

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