Offertrax, a developer and provider of RSS (Really Simple Syndication)-based shopping applications for merchants and consumers, has announced its formation and initial round of funding from private investors. The company will continue its product development and staff growth and expects to launch its first product in August 2006.
The Offertrax solution will anonymously connect consumers and merchants online and allow them to benefit from the social networking phenomenon and leverage the growing adoption of RSS.
Offertrax hopes to establish a new online category called "tracking." Using the Web-based Offertrax service, consumers can anonymously track products and services they find interesting and act only when they learn of specific offers that satisfy their interests. This system is based on RSS (Really Simple Syndication) and allows merchants and related social networking content sites to offer "subscriptions" to consumers to track the items which interest them. Importantly, the unique design of Offertrax also allows consumers to share their tracked offers, and then lead others to desirable purchases based upon their "trails" be it via the Web, their mobile phone, or other handheld devices.