How Upside Makes Money

Upside is a shopping platform that enables users to earn rewards in exchange for scans of their receipts.

The app works together with over 20,000 businesses including Burger King, Dunkin’ Donuts, and Shell.

Upside, which is headquartered in Washington, DC and started out as GetUpside, was founded in 2016 by a group of former Opower employees. 

They have collectively raised $265 million for the business, which is currently valued at a whopping $1.6 billion. 

But how is Upside able to hand out such generous cashback rewards?

The Upside app makes money by receiving a share of the profit its 20,000+ partners make.

These partners compensate Upside whenever a shopper buys a product that’s eligible for cashback rewards.

Brands benefit from exclusivity. For instance, if there are three gas stations near each other, Upside would only surface one on the app.

Partners can then get an aggregated view into a shopper’s behavior and assess which of their products or locations perform best.

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