Mobile savings application Ibotta, popular among digitally savvy coupon clippers, expanded beyond savings on grocery items and other consumer packaged goods to include support for home improvement stores, restaurants and more late last year. Now, it’s launching a mobile shopping version of its service, which extends its savings to online retailers, too, including Nordstrom’s, Kohl’s, Forever 21, Foot Locker, Champs, Gymboree, and others.
The company explains that with the online shopping component, there’s no requirement to verify purchases by sending in receipts, as with some of its other offline shopping savings programs. Instead, users complete their shopping through a special link provided in the app or emailed to the user for later use.
Of course, this is a standard practice for a number of online affiliate programs today, which will often suggest that users bookmark their designated URL in the browser. However, according to Ibotta, they coordinate directly with the retailer or their affiliate network (e.g. Commission Junction, Linkshare, etc.) and then credit the user for their purchase within 14 days. This is faster than some other services, where credit may be confirmed after three months or longer, notes the company.
At launch, Ibotta’s mobile shopping service works with 13 apparel retailers including Nordstrom, Kohl’s, Forever 21, Clarks, Lids, Aeropostale, Champs Sports, eBags, and more. And in the weeks ahead, it will be launching offers specific to various categories, like “Health & Beauty,” “Baby & Kid,” “Electronics,” as well as adding more apparel retailers. Notable retailers like Sephora, Birchbox, Gymboree, Janie & Jack, Microsoft, Radioshack, Panasonic, Foot Locker, and Express are also in the works. The plans is to support well over 50 new retailers introduced by the end of May.
Since its launch at the end of 2012, Ibotta has grown its service to reach nearly 3 million users – up from 1.9 million toward the end of last year. The majority of its users are female, and ages 25 to 35. The app today is regularly featured among the “extreme couponing” blogosphere, where savvy shoppers find ways to stack coupons for heavily discounted or even free products, but it also appeals to those who want to achieve similar savings as to what’s offered via couponing, but without the need for scissors and newspapers.
Users in Ibotta instead earn their savings by performing certain tasks, like answering a trivia question or respond to a single-question survey, for example, then receive their rewards in cash or gift cards.
To date, Ibotta users have earned over $7 million in cash rewards, the company tells us.
While Ibotta doesn’t typically comment on revenue, the team would say that it is expecting this year to more than triple its revenue from last year.
The app, which competes in the same space as RetailMeNot or Coupons.com, is available for download here.