Paribus

Paribus

Company type	Private
Industry	Software, Price monitoring
Founded	2014
Founder	Eric Glyman, Karim Atiyeh
Headquarters	Brooklyn, New York , United States
Products	Price monitoring application
Parent	Capital One (since October 2016)

Paribus was a U.S.-based enterprise known for developing a price monitoring application that integrated with users' email accounts to analyze receipts and pursue reimbursements when prices decreased shortly after a purchase.

History

Established in 2014 by Eric Glyman (CEO) and Karim Atiyeh (CTO), Paribus operated out of Brooklyn, New York. The company's name is inspired by the Latin expression ceteris paribus, which translates to "all other things being equal."

Both Harvard University graduates, Glyman and Atiyeh created Paribus to streamline the often neglected process of obtaining refunds following price reductions. Their initial work on the idea began in 2013, with a beta release in September 2014 and a public introduction at TechCrunch Disrupt New York in May 2015. The firm launched its iOS application in August 2015, followed by an Android version in April 2016.

In October 2015, Paribus secured $2.1 million in seed investment led by General Catalyst Partners, alongside contributions from Greylock Partners, Foundation Capital, Soma Capital, and Mick Johnson, former Facebook product director. This funding came after participation in the Y Combinator summer batch and competing in Startup Battlefield at TechCrunch Disrupt NY.

Capital One acquired Paribus in October 2016. Post-acquisition, Paribus introduced new offerings designed to help users save both time and money, reportedly achieving savings exceeding $20 million for upwards of 3 million customers. However, as of January 2023, Capital One discontinued the Capital One Price Protection feature within Capital One Shopping.

Software

Paribus operated by linking to customers' email accounts to scan receipts from various e-commerce merchants. The platform monitored purchases and, when a price drop occurred soon after buying an item, automatically reached out to customer service to initiate price adjustment requests and secure refunds. Additionally, it identified applicable coupons or promotional codes that could have been used and applied these retroactively. The service was offered free of charge. Following its acquisition by Capital One, users continued to receive the full amount of their savings. Paribus supported devices including iPhone, iPad, iPod Touch, and those running Android.

At its inception, Paribus partnered with 18 prominent retailers such as Amazon.com, Best Buy, Walmart, Target, Macy's, and Newegg. By December 2017, this network expanded to encompass 29 U.S.-based retailers. The company reported that users saved an average of $60 to $100 annually. By October 2016, its user base had surpassed 700,000 individuals.

See also

• Tech companies in the New York metropolitan area