“Like many startups that have grown as quickly as we have in one year’s time, we had many paths,” Glyman says. Paribus had over 700,000 users at the time of the deal, and co-founder Glyman says the team was happy with the direction and growth over the past year, though he would not speak to revenue details. “Our focus right now is on merging Paribus into the broader Capital One family, and adding the Paribus product into the broader set of technology and tools aimed at making people’s lives easier, like CreditWise and Second Look,” Lopez added. Card at Capital One, about why the company decided to snatch up Paribus. “We are incredibly impressed with the level of talent, the innovative technology that they have and are developing, and their steadfast mission to deliver effortless experiences for its users,” says Emilia Lopez, Managing Vice President, U.S. The startup has raised $2.22 million in outside funding to date and has a team of 12, all of whom are now joining Capital One. Paribus founders Eric Glyman and Karim Atiyeh are joining Capital One as Senior Directors in U.S. The service works with a number of online retailers, including Amazon, Best Buy, Walmart, Target, Bloomingdale’s, Macy’s, Bonobos, J.Crew, NewEgg, Costco, Staples, Kohl’s, and many others. When it finds one, it will then watch the item for a price drop within the store’s price match claim window. Paribus instead integrates with your email provider – like Gmail, Outlook, or Yahoo, for example – in order to scan your inbox for receipts of online purchases. Many retailers offer post-purchase price matches, but most consumers don’t bother to watch the prices fluctuate after they complete the checkout process. Launched in the Startup Battlefield at TechCrunch Disrupt NY 2015, Paribus’ idea was to automate the process of following up on past purchases to see if shoppers could request a refund from the online retailer. Deal terms were not disclosed, but the acquisition involves bring both the team and the technology itself to Capital One. Capital One is making another acquisition in the fintech space, this time snatching up the price tracking service Paribus, which helps online shoppers get automatic refunds when prices drop on items they purchased.
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