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Cost Cutting App, Ibotta

Starting out can be rough, especially when the only seemingly affordable items on the menu are instant ramen and carrots. However, apps like Ibotta help everyone cut corners and make the most out a tight budget. With discounts ranging from groceries to restaurants to electronics, Ibotta gets the best bang for your buck.

Initially a Denver-based startup and brainchild of lawyer-turned entrepreneur, Bryan Leach, Ibotta has yielded profits for users, brands and its developer since its launch in 2012. “More people than ever before are making purchases through mobile apps as a convenient way to shop right from their smartphones, but until now, there hasn’t been a way to save on those in-app purchases,” explained Leach in an interview with Social Times. “Now, shoppers can unlock offers through Ibotta before they shop on other apps, and automatically earn rewards whenever they book hotel rooms, order food delivery, purchase concert tickets and more.”

receiptsAvailable on IOS and Android, Ibotta offers new deals and rebates on a wide array of items. Users can take advantage of these deals and rebates by completing surveys or by watching videos which inform users about the product. Once shoppers purchase their items, they need only take pictures of their receipts and upload them to the app. The rebates are then credited to the user’s bank account via PayPal or Venmo.

Ibotta’s rebate tasks take only a few seconds to complete and the app’s deals can be used in combination with coupons found apart from Ibotta. Originally an app built on grocery-related deals, Ibotta has expanded. Its partners specialize in all sorts of retail, ranging from Hotels.com to Groupon and Jet.com. In total, Ibotta has grown into a 350 employee company, with over 19 million downloads and more than 1,300 partners, including Costco, Target, Home Depot, and Price Chopper.

December 2016, Ibotta made a special offer, allowing users to redeem $20 worth of rebates for cash or gift cards to Amazon, Target, Walmart, and other retailers. First time users were also granted $10 extra on their first rebate.The mobile, retail app has attracted the attention of coupon lovers and crazy savers alike, earning stellar reviews on multiple blogs and websites, including The Krazy Coupon Lady and The Penny Hoarder.

money, piggy bank, savingsSo far, Ibotta users have reportedly earned over $150 million in rewards and with mobile sales and ecommerce topping retail market charts. According to Business Insider, Ibotta’s mobile platform raises consumer savings as well as “much-needed brand awareness and sales.” Much of the consumer demographic that is benefiting from Ibotta is women, between 15 and 45.

With all these positives, the future for Ibotta is shining even brighter, opening a wave of change for retailers and consumers alike. “The ad unit is changing, the way you pay for it is changing, and we’re right in the middle of that,” Leach told Xconomy. “I think it’s [Ibotta] a $50 billion idea, I don’t think it’s a $1 billion idea.”

 

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