Paribus is an American company and creator of the price tracking app of the same name, which syncs with a user's email account to scan for receipts and negotiates with online companies to refund the difference if there is a price drop shortly after a purchase.

History

Paribus was founded in 2014 by Eric Glyman and Karim Atiyeh. The company is based in

Brooklyn, New York Brooklyn () is a borough of New York City, coextensive with Kings County, in the U.S. state of New York. Kings County is the most populous county in the State of New York, and the second-most densely populated county in the United States, be ...

. The name is derived from the Latin phrase ''

ceteris paribus ' (also spelled '; () is a Latin phrase, meaning "other things equal"; some other English translations of the phrase are "all other things being equal", "other things held constant", "all else unchanged", and "all else being equal". A statement ...

'', meaning "all others things being equal." Glyman built Paribus to simplify the process of receiving a refund following a price drop, which can be complicated to track and often go unclaimed. He and fellow

Harvard University Harvard University is a private Ivy League research university in Cambridge, Massachusetts. Founded in 1636 as Harvard College and named for its first benefactor, the Puritan clergyman John Harvard, it is the oldest institution of higher le ...

alumnus Atiyeh conceived of the idea and started working on the concept in the summer of 2013. After launching in beta in September 2014, the app launched publicly at

TechCrunch Disrupt New York TechCrunch is an American online newspaper focusing on high tech and startup companies. It was founded in June 2005 by Archimedes Ventures, led by partners Michael Arrington and Keith Teare. In 2010, AOL acquired the company for approximately ...

on May 5, 2015. Paribus released its

iOS iOS (formerly iPhone OS) is a mobile operating system created and developed by Apple Inc. exclusively for its hardware. It is the operating system that powers many of the company's mobile devices, including the iPhone; the term also includes ...

app on August 6, 2015, and its Android app on April 28, 2016. In October 2015, Paribus announced that it had raised $2.1 million in seed funding, following its participation in the

Y Combinator Y Combinator (YC) is an American technology startup accelerator launched in March 2005. It has been used to launch more than 3,000 companies, including Airbnb, Coinbase, Cruise, DoorDash, Dropbox, Instacart, Quora, PagerDuty, Reddit, Str ...

summer program and Startup Battlefield at TechCrunch Disrupt NY. The funding round was led by General Catalyst Partners, and also included

Greylock Partners Greylock Partners is one of the oldest venture capital firms, founded in 1965, with committed capital of over $3.5 billion under management. The firm focuses on early-stage companies in the consumer, enterprise software and infrastructure as wel ...

Foundation Capital Foundation Capital is a venture capital firm located in Silicon Valley. The firm was founded in 1995, and in 2012 managed more than $2.4 billion in investment capital. History Foundation Capital was founded in 1995. The firm raised its sevent ...

, Soma Capital and Mick Johnson,

Facebook Facebook is an online social media and social networking service owned by American company Meta Platforms. Founded in 2004 by Mark Zuckerberg with fellow Harvard College students and roommates Eduardo Saverin, Andrew McCollum, Dustin M ...

's former director of product. In October 2016, it was announced that Paribus had been acquired by

Capital One Capital One Financial Corporation is an American bank holding company specializing in credit cards, auto loans, banking, and savings accounts, headquartered in McLean, Virginia with operations primarily in the United States. It is on the list o ...

.Sarah Perez
"Capital One acquires online price tracker Paribus,"
TechCrunch, October 6, 2016. Since then, Paribus has continued to launch new products to help save users time and money and has reportedly found more than $20,000,000 in savings for their over 3,000,000 users.

Software

Paribus connects to a user's email account to scan messages for receipts from

e-commerce E-commerce (electronic commerce) is the activity of electronically buying or selling of products on online services or over the Internet. E-commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain manageme ...

retailers.Lauren Zumbach
"Apps track emails, receipts to spot potential price-match refunds,"
''

Chicago Tribune The ''Chicago Tribune'' is a daily newspaper based in Chicago, Illinois, United States, owned by Tribune Publishing. Founded in 1847, and formerly self-styled as the "World's Greatest Newspaper" (a slogan for which WGN radio and television ar ...

'', May 24, 2016. The app tracks the user's purchases and, if an item goes on sale shortly after the purchase, Paribus contacts customer service departments in the user's name to file a price adjustment claim and request a refund of the difference. It is also able to detect coupons or promo codes that could have been applied to a purchase, and have the coupon redeemed retroactively. The app is free. After the acquisition closed with Capital One, Paribus users now keep 100% of the difference. It is available on the iPhone,

iPad The iPad is a brand of iOS and iPadOS-based tablet computers that are developed by Apple Inc. The iPad was conceived before the related iPhone but the iPhone was developed and released first. Speculation about the development, operating s ...

iPod Touch The iPod Touch (stylized as iPod touch) is a discontinued line of iOS-based mobile devices designed and marketed by Apple Inc. with a touchscreen-controlled user interface. As with other iPod models, the iPod Touch can be used as a music pl ...

, and on Android smartphones and tablets. At its launch, the service worked with 18 major retailers, including

Amazon.com Amazon.com, Inc. ( ) is an American multinational technology company focusing on e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence. It has been referred to as "one of the most influential economi ...

Best Buy Best Buy Co. Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota. Originally founded by Richard M. Schulze and James Wheeler in 1966 as an audio specialty store called Sound of Music, it was rebra ...

Walmart Walmart Inc. (; formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores from the United States, headquarter ...

Target Target may refer to: Physical items * Shooting target, used in marksmanship training and various shooting sports ** Bullseye (target), the goal one for which one aims in many of these sports ** Aiming point, in field artillery, fi ...

Macy's Macy's (originally R. H. Macy & Co.) is an American chain of high-end department stores founded in 1858 by Rowland Hussey Macy. It became a division of the Cincinnati-based Federated Department Stores in 1994, through which it is affiliated wi ...

and

Newegg Newegg Commerce, Inc. is an American online retailer of items including computer hardware and consumer electronics. It is based in City of Industry, California. It is majority-owned by Liaison Interactive, a multinational technology company. Hi ...

.Zach Epstein
"New free service automatically gets you money back when items you've already bought go on sale,"

Boy Genius Report Boy Genius Report (also referred to as BGR) is a technology-influenced website and covers topics ranging from consumer gadgets, to entertainment, gaming, and science. Founded in October 2006 by anonymous web personality Boy Genius (also referred ...

, May 22, 2015. This list had grown to 29 retailers in the United States by December 2017. The company states that the average user saves between $60 and $100 per year. As of October 2016, it had over 700,000 users.

References

External links

* {{Official website, http://www.paribus.co/ Capital One American companies established in 2014 Companies based in Brooklyn Software companies based in New York City Online companies of the United States IOS software Android (operating system) software Y Combinator companies 2016 mergers and acquisitions Defunct software companies of the United States

History

Software

See also

References

External links