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How Does GetUpside Make Money?

GetUpside is a cashback app allowing consumers to earn rewards by scanning receipts created in 2016 by Jan Rubio, Joanna Kochaniak, Rick McPhee, Thomas Vaughan, and former Google employees Wayne Lin and Alex Kinnier. While similar services such as Groupon and LivingSocial email coupons to users, GetUpside maps discounts based on user location. GetUpside generates revenue primarily through affiliate commissions paid by the brands it partners with. Whenever a consumer purchases a product eligible for cashback rewards, the merchant pays the company a fee.

Origin Story

GetUpside is a cashback app allowing consumers to earn rewards by scanning receipts.

The app was created in 2016 by Jan Rubio, Joanna Kochaniak, Rick McPhee, Thomas Vaughan, and former Google employees Wayne Lin and Alex Kinnier. While similar services such as Groupon and LivingSocial email coupons to users, GetUpside maps discounts based on user location. In other words, users open the app and see cash-back deals displayed on a map in much the same way Uber portrays nearby drivers.

The initial test run for GetUpside was confined to gas stations in Washington D.C. but quickly expanded to encompass restaurants and grocery stores. During this time, the founders also focused on signing partnerships with BP and Kmart to increase supply on the platform.

In 2020, GetUpside signed a deal with competitors GasBuddy and Checkout 51 to have its personalized deal technology offered to more than 25 million monthly users. The platform itself has also seen significant growth in users as more consumers look to save money in the wake of the COVID-19 pandemic.

GetUpside revenue generation

GetUpside generates revenue primarily through affiliate commissions paid by the brands it partners with. Whenever a consumer purchases a product eligible for cashback rewards, the merchant pays the company a fee.

While the affiliate model is nothing new, GetUpside can differentiate itself by using machine learning technology to personalize deals. It does this by feeding a vast amount of data on spending history and behavior into algorithms that then produce specific product recommendations.

This increases the odds of repeat purchases, which in turn increases the affiliate commissions the company receives.

Merchant support

A sound relationship with merchants is fundamental to the success of the GetUpside app.

The company itself has the vision to connect people with businesses and in so doing, create vibrant local communities.

This connection must also be profitable for retailers. Since customer deals are processed by GetUpside and not the retailer itself, the company can show merchants how much extra money they are making through any partnership. Merchants also get access to anonymous data that help them identify their best and worst-performing stores or locations.

Merchant brands are also offered some degree of exclusivity. If the main street of a town has three gas stations in close proximity, GetUpside will only display one and incentivize its users to visit it over the remaining two. Brands can also choose to attach more reward points to certain products they want to be promoted.

Ultimately, the GetUpside business model is very simple. But it is underpinned by robust data that benefits both the consumer and retailer greatly.

Key takeaways:

  • GetUpside is a cash-back app created in 2016. After initial trials in Washington D.C. gas stations, the service was quickly expanded to include restaurants and supermarkets.
  • GetUpside generates revenue through affiliate commissions. When a consumer makes an eligible purchase from a merchant on the app, the merchant must pay GetUpside a fee.
  • GetUpside is underpinned by robust consumer spending data helping businesses gain important insights into their stores, locations, and products. Being featured on the GetUpside App is also beneficial for businesses with strong local competition.

Read Also: How Does Groupon Make Money, How Does Ibotta Make Money, How Does Robinhood Make Money, How Does Chime Make Money, How Does Acorns Make Money, How Does DoorDash Make Money.

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