Ibotta Inc. has introduced a free mobile application for iPhone users that gives consumers a new way to earn as much as $40 in cash each time they shop. Using the app, consumers earn cash rewards for answering a trivia question, watching videos and/or providing feedback on their favored products, then purchasing the products at retail banners such as Walmart, Target, Safeway, Kroger, King Soopers, Ralphs and Vons, with more to come in the next few weeks.
As a part of the launch, Denver-based Ibotta will also bow a limited-time “Share the Love” offer, under which a consumer referral program pays users cash for referring friends and gives new users $5 of starting credit with the app.
Since the app first debuted in beta testing five weeks ago, more than 10 million offers have already been viewed, and 500,000-plus brand engagements have been completed by Ibotta users. Users have several options for how to spend their money, including transferring their cash to a PayPal account, donating their earnings to any school in America or supporting United Way.
“Instead of just transferring the tired old coupon format onto a mobile device, Ibotta has taken a fresh approach that gives people a fun new way to earn cash when they shop,” explained Ibotta CEO and founder Bryan Leach. “For our growing list of partners, Ibotta opens a new channel of communication with their customers: one that creates much deeper engagement and brand awareness than mobile coupons, loyalty cards or price reductions on the store shelf.”
Consumer packaged goods companies and retailers are using Ibotta’s cutting-edge technology to deliver highly targeted offers, gather consumer feedback and gauge purchase trends in real time through the company’s dashboard tool. The app currently features offers on products by Kraft, Nestlé, Colgate and Pfizer, among other well-known brands.
“Ibotta represents the next generation of mobile technology that will allow Kraft to provide customers with product information and deals that are more personalized, and thus highly relevant to their daily lives,” said Doug Weekes, VP of beverages at Northfield, Ill.-based Kraft Foods, adding that the app provided the opportunity for “reaching younger and more tech-savvy customers based on the game-like and viral engagement components of the Ibotta platform.”
A three-minute demo of the Ibotta app is available online, and consumers can download it at no charge on iTunes. Android users can sign up to be notified of the app’s release on the Android platform, which is slated for late 2012.