OctoShop

OctoShop was a browser extension that enabled users to compare prices, set up restock and price drop alerts, and earn cashback while shopping online. The company was founded in 2020 by University of Texas students Rithwik Pattikonda, Darshan Bhatta, Sriram Hariharan, and Tammy Taabassum. The idea originated during the COVID-19 pandemic to help consumers track down essential items with scarce inventory. Initially launched as InStok.org, the platform evolved into OctoShop, broadening its features to include price comparisons to counteract scalpers and find the lowest prices on items like high-demand electronics.

The founders were all technical, with backgrounds in software engineering and product design. CEO Rithwik Pattikonda had prior experience as a software engineer at Google. The startup operated as a fully remote team and received an initial $10,000 non-dilutive grant from a University of Texas student startup fund. OctoShop's business model was based on generating revenue through affiliate commissions from retailers when the extension directed traffic to their sites. The service was free for its users. The company grew rapidly, reaching over 130,000 active users and gaining recognition as an editor's pick in the Chrome Web Store.

In September 2021, after attracting interest from several companies, OctoShop was acquired by the cash-back rewards platform Ibotta in a multi-million dollar deal. Following the acquisition, the OctoShop browser extension was discontinued on January 15, 2022, and its functionalities were integrated into the Ibotta browser extension.

Keywords: price comparison, restock alerts, price drop alerts, cashback browser extension, e-commerce tool, affiliate marketing, online shopping, inventory tracking, InStok, Ibotta acquisition, Rithwik Pattikonda, Darshan Bhatta, Sriram Hariharan, Tammy Taabassum, consumer technology, startup, deal finder, shopping assistant, price history, chrome extension