News

Ibotta adds 'Social Saving' to its mobile shopping app

June 12, 2014

Ibotta, a mobile shopping app that offers users cash back on purchases, has launched the latest 2.4 version of its app, which includes a new Social Saving feature. According to the company, this new feature will enable Ibotta’s three million users to save even more money by capitalizing on the power of collective team earning.

The company said in a release that this latest version of the Ibotta app enables users to build their own Ibotta team, by inviting friends using a personal referral code or connecting through Facebook. Retailers that have partnered with Ibotta include Target, Vons, Nordstrom, Forever 21, Rite Aid and Walmart.

“The more friends you have on your team, the easier it is to earn cash month after month. As long as your team reaches the monthly goal, then everyone will instantly earn cash back,” said Bryan Leach, founder and CEO of Ibotta. “All you have to do is invite friends, and once they download the app, we’ll add them to your Ibotta team. We’ve already given $7.5 million in cash back since we launched, and with Social Saving and lots of new rebates every week, we expect this number to substantially increase.’’

As part of the 2.4 update, Ibotta will also introduce a new “What’s Hot” category. This will provide users with a gallery to explore the app's most popular rebates in their favorite stores.