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Earn Cashback on Your Receipts with CoinOut Rewards App

Have you ever wished that you could turn your receipts into cash? Well, now you can with CoinOut, a leading rewards app.

With CoinOut, you can earn cashback on your in-store and online purchases, as well as get rewarded for scanning your receipts. This app is available for both Android and iOS devices, and it uses your phone number to track your receipts and reward you for your purchases.

In this article, we’ll take a closer look at how CoinOut works, and how you can start earning cashback rewards today.

How CoinOut Works

App Registration and Usage

Getting started with CoinOut is easy. All you need is a phone number and a device running Android or iOS.

Simply download the app, enter your phone number, and follow the prompts to create an account. Once your account is set up, you can start using the app to earn rewards.

To earn rewards on your in-store purchases, simply enter the amount of your purchase into the app and take a picture of your receipt. The app will automatically credit your account with cashback rewards.

For online purchases, you can link your account to the app and earn rewards automatically.

Receipt Scanning and Reward Redemption

One of the unique features of CoinOut is that you can earn rewards by simply scanning your receipts. All you have to do is take a photo of your receipt and upload it to the app.

The app will automatically credit your account with cashback rewards. You can redeem your rewards by direct deposit, PayPal, or Amazon gift cards.

Cashback Earning Methods

There are several ways to earn cashback rewards with CoinOut. One of the easiest ways is to shop through the app.

When you shop at one of the participating retailers, you can earn cashback rewards on your purchases. You can also enter sweepstakes and subscribe to the newsletter to earn more rewards.

Conclusion

CoinOut is a great app for anyone looking to earn cashback rewards. With its simple registration process and easy-to-use interface, it’s a no-brainer.

So why wait? Download CoinOut today and start earning cashback rewards today!

Founding Story of CoinOut

CoinOut is the brainchild of Jeff Witten, a graduate of Columbia University with a law degree. Witten began his career in the legal field but quickly realized that his interests lay elsewhere.

When Apple launched the iPhone in 2007, Witten recognized the potential of the smartphone market. He decided to leave the legal field and explore the technology space.

Early on, Witten was focused on developing an app that would help people save their spare change. He theorized that if people could round up their purchases to the nearest dollar and save that money, they would be more financially responsible and experience less financial stress.

He founded a company called Leftover Change, which developed an app that would help people achieve this goal. However, Witten soon realized that there were limitations to the spare change concept, as it relied on people having loose change in the first place.

He pivoted his focus to a concept that would allow people to earn cashback rewards on their purchases, which he saw as a more universal need.

CoinOuts Breakthrough Moments

In 2017, after several months of development, CoinOut launched in the app store. Its initial concept was simple: users could scan their receipts and immediately earn cashback rewards.

The focus was on creating partnerships with retailers to augment their cashback rewards. One of CoinOut’s breakthrough moments came when it partnered with Clover, a point of sale system used by many small businesses.

Through this partnership, merchants using the Clover system could offer their customers a cashback option that would be powered by CoinOut. This added significant value for both customers and retailers, as it created a seamless way for small businesses to offer cashback rewards.

Another pivotal moment for CoinOut came when the company appeared on Shark Tank in April 2018. During the episode, Witten pitched his concept to the show’s panel of investors, who were impressed by the app’s potential.

Mark Cuban, one of the investors on the show, decided to invest in CoinOut, providing the company with an infusion of capital. CoinOut’s Revenue Streams

CoinOut has several revenue streams, each of which is designed to help the company continue to grow and attract new users.

One of the company’s largest revenue streams is referral fees from retail partners. Retailers are attracted to CoinOut because they can use the app to offer customers a compelling cashback option.

In turn, CoinOut can generate revenue by attracting new customers to retail partners. Another revenue stream for CoinOut is gamification and sweepstakes.

The company offers VIP badges to users who earn a certain amount of rewards. The badges offer access to limited offers and special promotions.

In addition, CoinOut partners with brands to offer prizes and sweepstakes that users can enter. Finally, CoinOut generates revenue through data monetization.

The app collects real-time purchase data from its users and anonymizes that information to create a data set that banks and retailers can use for analytics. This allows them to gain insights into consumer behavior, which in turn can inform their business decisions.

Conclusion

In conclusion, CoinOut has had an interesting founding story that reflects the evolution of its business concept from a niche app that encouraged people to save money to a more universal app that rewards users for all types of purchases. Its breakthrough moments include partnerships with Clover, appearances on Shark Tank, and its diverse revenue streams that include referral fees, gamification, and data monetization.

Overall, CoinOut is a company that is poised for continued growth and success in the increasingly competitive world of rewards apps. Funding, Revenue, and Valuation

CoinOut has a strong funding history, having raised multiple rounds of venture funding.

The initial seed round was led by Bill Campbell, a prominent Silicon Valley investor who had previously worked at Apple. Campbell was a mentor to many prominent technology entrepreneurs, including Steve Jobs and Jeff Bezos.

With Campbell’s support, CoinOut was able to secure additional funding from other investors. These investors were attracted to the company’s unique concept and its potential for growth in the crowded rewards app market.

Over time, the company has continued to raise funding from additional investors, further accelerating its growth. CoinOut’s Valuation and Revenue

CoinOut’s valuation is not publicly disclosed.

However, the company gained significant exposure after its appearance on Shark Tank in April 2018. During the episode, founder Jeff Witten pitched CoinOut’s concept to the show’s panel, including billionaire investor Mark Cuban.

Cuban was impressed by the app’s potential and decided to invest in the company. Since its appearance on Shark Tank, CoinOut has experienced significant growth in both user adoption and revenue.

The app has continued to add new retail partners, which has helped to attract new users. In addition, the company has expanded its revenue streams beyond just cashback rewards, with gamification, sweepstakes, and data monetization offerings.

Despite this growth, CoinOut’s revenue remains undisclosed. As a privately held company, the company is not required to disclose financial information publicly.

However, the company’s growth in user adoption and partnerships suggest that it is likely experiencing strong revenue growth as well.

Conclusion

In conclusion, CoinOut has a history of successful funding rounds that have fueled its growth and allowed it to continue to innovate in the rewards app space. The company’s valuation is not publicly disclosed, but its appearance on Shark Tank has helped to raise its profile significantly.

Moreover, the company’s diverse revenue streams, including gamification and data monetization, suggest that it is poised for continued growth and success in the future. CoinOut is a rewards app that allows users to earn cashback on their purchases by simply scanning receipts or making purchases through the app.

The company was founded by Jeff Witten, who pivoted from an earlier concept focused on spare change. CoinOut has experienced several breakthrough moments in its growth, including a partnership with Clover and an appearance on Shark Tank.

The company generates revenue through referral fees, gamification and sweepstakes, and data monetization. CoinOut’s valuation and revenue are undisclosed, but its growth in user adoption and partnerships suggest that it is poised for continued success in the competitive rewards app market.

Overall, CoinOut offers a unique and straightforward way for users to earn cashback rewards, and its innovative approach to engagement and monetization makes it a standout app in the crowded rewards space.

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