Ibotta Announces National Roll Out of Smartphone App that Pays Consumers Cash to Shop

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New technology creates the first mobile “brand engagement” platform to connect brands and consumers – over 10 million offers viewed in first five weeks.

“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 Beverages at Kraft.

Ibotta, Inc., a Silicon Valley-backed technology company, today 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.

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, Ralphs and Vons, 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 United Way with the click of a button.

“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,” says Bryan Leach, founder and CEO of Ibotta. “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.”

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 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,” said Doug Weekes, vice president of Beverages at Kraft Foods. “We’re extremely excited about the possibility of reaching younger and more tech-savvy customers based on the game-like and viral engagement components of the Ibotta platform.”

Ibotta is available for download free on iTunes and Android users can sign up to be notified of its release on Android platform set for late 2012.

About Ibotta
Ibotta is a privately-held company headquartered in Denver that focuses on developing the world’s first brand engagement mobile applications. The company’s technology team has a proven track record of building mobile and web technologies that have enriched the lives of hundreds of millions of consumers while its senior management team has decades of experience working closely with the world’s leading brand companies and retailers. Go get started – you earned it: http://www.ibotta.com.

3-minute Demo: http://vimeo.com/ibotta/demo
About Ibotta: https://ibotta.com/about
Facebook: http://www.facebook.com/ibottaapp
Download Ibotta: http://itunes.apple.com/us/app/ibotta/id559887125
Notify for Android Release: https://ibotta.com/notify

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Alexis Anderson
GroundFloor Media
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