Nokaut.pl
Poland's price-comparison pioneer. Public on the WSE in 2012.
Selected figures
Nokaut.pl was one of Poland’s first and largest price-comparison engines. Conceived in 2005 by Wojciech Czernecki and Michał Jaskólski, built from 2006 with venture backing, it grew into a service used by nearly three million people a month at its peak — a front door to Polish e-commerce at the exact moment the market moved online.
In March 2012 Grupa Nokaut went public on the Warsaw Stock Exchange. The founders’ holding company, Calvin Management, held 28.95% of votes at listing.
Investment thesis
Own the moment of purchase intent. Before marketplaces consolidated European e-commerce, a comparison engine was the highest-leverage position in the funnel: every shop needed the traffic, every shopper wanted the price. The IPO on the WSE validated the model.
Michał’s role
Co-founder and board member. Michał co-created the product and the company, served on the management board of the listed group, and took the company public on the WSE with his co-founder — the first of his two public-market outcomes.
— Timeline
- 2005Wojciech Czernecki and Michał Jaskólski develop the idea and business plan.
- 2006Work on Nokaut.pl begins, backed by VC fund bmp AG from the start.
- 2010Investors TFI buys a 34.26% stake from bmp AG at a valuation of about PLN 15.8M.
- 2011Nearly 3 million monthly users (Megapanel PBI/Gemius, July 2011).
- 2012Grupa Nokaut debuts on the Warsaw Stock Exchange.
- 2015The listed group changes strategy and name to HubStyle; the comparison engine era ends for the founders.
- 2015Michał parts ways with his co-founder and shifts his operational focus to Morizon.pl.
02— Sources