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Start-up social commerce technology developer, Peeractive, has become the first Australian company to be selected to participate in the DreamIt accelerator program in the United States.

Peeractive co-founder, Nick Rosenthal, says the company’s “pioneering technology” – which uses real-time analytics to engage users in a dynamic and interactive shopping environment - will be launched in both in Australia and the US before the DreamIt program ends on 14 December.

Rosenthal said that with the technology, prices were personalised to each user and adjusted in real-time to compel shoppers to make a purchase and increase conversion rates for online retailers.

“We are extremely excited to join the DreamIt team and leverage their amazing resources to bring our product to market.”

According to Rosenthal’s Peeractive co-founder, David Stein, the new technology will “completely change the e-commerce world.”

“We can't wait to launch our exciting and engaging online shopping platform. We are looking to partner with additional online retailers in the US and Australia who want to use our groundbreaking technology to take their business to the next level.”

Stein said that, as well as being the first Australian company to be admitted to DreamIt, Peeractive was the only international team in this year’s program, beating hundreds of global competitors.

He said the Peeractive team, made up of entrepreneurs with experience in IT development and marketing, was currently located in Philadelphia to participate in the three-month mentoring program.

DreamIt, named as a a top three US accelerator program by Forbes.com, provides start-ups with capital, strategic guidance and resources, with participants having full access to the DreamIt e-commerce advisory board, made up of executives from Wal-Mart, Amazon, QVC, American Express, and other leading online retailers.

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Peter Dinham

 

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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