DENVER — Ibotta on Friday officially launched its free mobile application for iPhone users that gives consumers a new way to earn as much as $40 in cash each time they shop. With Ibotta, consumers earn cash rewards for answering a trivia question, watching videos and/or providing feedback on their favorite products, then buying the products in major national retailers, such as Walmart, Target and Walgreens.
“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,” stated Bryan Leach, Ibotta CEO. “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.”
As Ibotta moves from the initial beta phase to an official launch this week, the updated version of the application will support new retailers — such as Safeway, Kroger, King Soopers, Ralph’s and Von’s — with more being unveiled in the coming weeks. As a part of the launch, Ibotta is also introducing a limited time “Share the Love” offer, a lucrative new consumer referral program that pays users cash for referring friends and gives new users $5 of starting credit with the app. Additionally, Ibotta has updated its speed to payout users and grant their rewards more quickly and accurately.
Since the Ibotta application was first made available in beta just five weeks ago, more than 10 million offers have already been viewed, and more than 500,000 brand engagements have been completed by Ibotta users. Ibotta gives users 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 the United Way with the click of a button.
Ibotta’s next-generation technology is proving popular among leading consumer packaged goods companies and retailers, which are using Ibotta to deliver highly targeted offers, gather consumer feedback and measure purchase trends in real-time through Ibotta’s dashboard tool. The Ibotta app currently features offers on products by Kraft, Nestle, Colgate, Pfizer and other leading brand companies.
“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,” noted Doug Weekes, VP beverages at Kraft Foods.