Nifti said it raised $800,000 in seed funding from Google Ventures, Otto Capital and other investors. The company’s shopping services helps consumers track discounts on products they want to buy.
PRESS RELEASE
Google Ventures-Backed Nifti Unveils New Shopping Service
To Help Consumers Track Discounts and Save Money
BOSTON — July 18, 2013 — Can a small startup become the consumer’s hub for online shopping? A group of investors led by Google Ventures and Otto Capital believes that Nifti has the potential to become just that. With $800,000 in seed funding, Nifti today unveiled a new shopping service designed to help consumers save money by tracking discounts on the products they want to buy. Nifti lets shoppers follow any product they find on any website, and then notifies them when these items drop to the price they want to pay.
Founded by Nathan Sharp, Greg Kimball and Abe Gurjal, Nifti makes it easy to track, compare, and share products from one simple location. After you drag the Nifti Button to your browser’s bookmarks bar, it stays with you as you shop anywhere online. When you see something you like, simply click the Nifti Button and set your desired price to receive an email when the price drops. Just as important, Nifti lets you see the product’s price history graph. With price alerts, you’ll never miss a sale that matters to you, and with price history, you’ll always know whether the current price is high or low compared to past prices.
“Patience pays in online shopping, but only if you’re willing to spend a ton of time checking back and forth on the things you want,” said Nifti co-founder Nathan Sharp. “Online prices change so much more often than we first realized. We built Nifti so that it’s as easy for shoppers to know when prices change as it is for merchants to change prices.”
“As consumers gain new insights into product pricing, we see a strong positive shift in the dynamic between shoppers and merchants,” said Rich Miner, General Partner at Google Ventures. “The team at Nifti has created a platform to bring consumers and merchants together in a way that makes the most of this increase in pricing awareness. It’s a clever take on the affiliate model because it benefits both shoppers and sellers.”
According to serial entrepreneur and Nifti investor Andy Palmer: “Ecommerce has to evolve. Consumers need simple information on the products that they want, and Nifti radically simplifies price alerts and wish lists for online consumers. Nifti is changing the way that people buy online by giving shoppers easy access to price history and changes. Instead of being pushed an endless stream of irrelevant promotions, Nifti users get only the updates they want so they can always buy at the best price.”
About Nifti
Nifti is a Boston-based startup dedicated to helping shoppers save time and money with better price information. Nifti helps users shop smarter by enabling consumers to set price alerts and track price history on any item across the web. Once a user tracks an item with the Nifti Button, it will be stored in one convenient location at Nifti so that users can compare, organize and share all of their desired products. Think of Nifti as the command center for your online shopping. For more information and to begin using the service, visit www.Nifti.com. Get the latest Nifti picks & tips on Nifti’s Blog, Twitter,Facebook, Pinterest and Google+.
