The world of cashback apps has seen tremendous growth in recent years, with many apps becoming household names. One such platform is CoinOut, a receipt-scanning app that skyrocketed to fame after its memorable appearance on Shark Tank. Since then, the question on everyone’s mind is, “How much is CoinOut really worth?”
As a user of cashback and rewards apps, I’ve noticed how essential it is to understand the financials behind these companies. It not only offers insights into their success but also helps users gauge the reliability of the platform.
Today, I’ll break down everything you need to know about CoinOut’s net worth, how it makes money, and what the future holds for this fintech powerhouse.
By the end of this blog, you’ll have a clearer picture of CoinOut’s valuation, its growth story, and how it became one of the most popular cashback apps in the market today.
What Is CoinOut and How Does It Work?
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CoinOut is a simple yet powerful cashback app that allows users to earn money by scanning their shopping receipts. Unlike traditional cashback apps that require you to buy specific items from select retailers, CoinOut works with virtually any retailer’s receipt.
Here’s how it works:
- Scan Your Receipt: Take a photo of your receipt using the app.
- Earn Cashback: The app processes the receipt and credits your account with cashback.
- Withdraw Funds: Once your cashback balance reaches a certain limit, you can cash out via PayPal, direct deposit, or gift cards.
What makes CoinOut stand out is its versatility. It works with grocery stores, supermarkets, pharmacies, gas stations, and even small local retailers. This simplicity and broad compatibility are part of the reason why CoinOut’s popularity grew so rapidly after its Shark Tank debut.
From Shark Tank Pitch to Tech Industry Success
When CoinOut appeared on Season 9 of Shark Tank, it was pitched as a simple yet innovative cashback solution. The app’s founder, Jeff Witten, explained his vision of creating a rewards platform that didn’t tie users down with brand-specific restrictions.
During the pitch, Witten managed to strike a deal with Robert Herjavec, agreeing to $250,000 for a 15% equity stake in the company. This deal not only provided much-needed capital but also gave CoinOut access to Robert’s business network, which played a crucial role in its growth.
The Shark Tank exposure worked wonders, as thousands of users downloaded the app immediately after the episode aired. It became one of the most downloaded financial apps on both the Apple App Store and Google Play Store, marking a significant milestone in its journey to success.
Who Owns CoinOut Today?
While Jeff Witten was the original founder and owner of CoinOut, the ownership changed in 2021 when the company was acquired by IRI Worldwide, a global leader in consumer data analytics.
IRI Worldwide bought CoinOut as part of its strategy to strengthen its presence in the fintech and consumer data space. By integrating CoinOut’s receipt data into its analytics, IRI gained access to valuable consumer insights. This acquisition further contributed to the rise in CoinOut’s net worth, thanks to improved resources, marketing, and app updates.
While CoinOut still operates as a standalone app, it is now part of IRI Worldwide’s broader product portfolio, which gives it access to deeper pockets and more advanced analytics technology.
Coin Out Net Worth — Analysing Its True Value
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So, how much is CoinOut really worth? While the company hasn’t publicly disclosed its exact valuation, industry estimates suggest it is worth between $10 million and $20 million.
This estimate is based on several factors, including:
- Its Shark Tank valuation ($1.6 million based on the Shark deal).
- Growth in its user base after the show.
- Revenue from cashback commissions and data monetisation.
- The acquisition by IRI Worldwide, which typically leads to an increase in valuation.
To give you a clearer picture, here’s a timeline of CoinOut’s estimated valuation changes:
| Year | Event | Valuation |
| 2018 | Shark Tank Deal | $1.6 million (estimated) |
| 2021 | Acquired by IRI | $10M – $20M (estimated) |
| 2024 | Current Estimate | $20M+ (industry speculation) |
Important Note: Since CoinOut is now owned by IRI Worldwide, its valuation may not be disclosed separately. However, the company’s growth, new features, and user base suggest it has grown significantly since the IRI acquisition.
What Drives CoinOut’s Net Worth?
There are several key factors that have contributed to the rise in CoinOut’s net worth:
- Acquisition by IRI Worldwide:
- This strategic acquisition opened the doors to larger opportunities, better analytics, and stronger financial backing.
- User Growth:
- Following Shark Tank, CoinOut experienced a surge in user downloads, and user growth is a key driver of app valuation.
- Revenue Model:
- By generating revenue through affiliate commissions, advertising, and data monetisation, CoinOut has multiple income streams.
- Brand Recognition:
- Shark Tank put CoinOut on the map, and with millions of users, it has become a trusted name in the cashback industry.
- Data Monetisation:
- The receipt data collected by CoinOut has become a valuable asset for IRI Worldwide.
How Does CoinOut Generate Revenue?
The CoinOut app generates revenue through a combination of cashback commissions, advertising, and the monetisation of user data.
Here’s a closer look at its revenue streams:
- Affiliate Commissions: CoinOut earns a percentage of sales whenever users buy products through its partner network.
- Data Monetisation: IRI uses purchase data from CoinOut to develop consumer insights that are sold to major brands.
- Advertising Revenue: CoinOut features promotions and advertisements within the app, earning additional revenue.
These revenue streams ensure CoinOut remains profitable while offering cashback to users.
How Does CoinOut Compare to Other Cashback Apps?
In a crowded cashback market, CoinOut competes with other big names like Ibotta, Rakuten, and Fetch Rewards.
Here’s how CoinOut stacks up:
| Feature | CoinOut | Ibotta | Rakuten | Fetch Rewards |
| Receipt Scanning | ✅ Yes | ✅ Yes | ❌ No | ✅ Yes |
| Retail Coverage | ✅ Universal | ❌ Limited | ❌ Specific Brands | ✅ Universal |
| Payout Options | PayPal, Gift Cards | PayPal, Gift Cards | PayPal, Gift Cards | Gift Cards Only |
CoinOut’s biggest advantage is its simplicity — users can scan receipts from any store, unlike apps like Ibotta, which require shopping at specific retailers.
The Future of CoinOut
With the financial backing of IRI Worldwide, the future of CoinOut looks promising. Possible developments in the pipeline include:
- Faster Receipt Processing: Enhanced AI technology for faster scanning.
- New Partnerships: Potential for partnerships with larger retailers.
- Expanded Features: The introduction of personalised cashback offers.
These enhancements could further increase CoinOut’s net worth.
CoinOut Net Worth Prediction for 2025
As of 2024, CoinOut’s net worth is estimated to be in the range of $20 million or more, but what lies ahead for this fintech platform? Backed by the resources and analytical power of IRI Worldwide, CoinOut is on track for substantial growth. With advancements in data analytics, AI-driven receipt scanning, and a surge in user adoption of cashback apps, CoinOut’s future looks promising.
1. Projected Valuation for 2025
Industry analysts predict that by 2025, CoinOut’s valuation could reach as high as $30 million to $50 million. This forecast is based on the following growth factors:
- Increased User Base: More people are using cashback apps to save money amid economic uncertainty, which directly impacts CoinOut’s revenue and valuation.
- New Revenue Streams: As part of IRI Worldwide, CoinOut may introduce new features like custom cashback offers, exclusive brand partnerships, and advanced analytics.
- Data Monetisation Growth: CoinOut’s purchase data will continue to be a valuable resource for IRI’s marketing analytics, driving further profitability.
- Market Expansion: Expansion into international markets or integration with larger retail platforms could further increase CoinOut’s net worth.
2. New Features and Technological Advancements
To remain competitive, CoinOut will likely introduce advanced AI-driven receipt scanning for faster, more accurate processing. In addition, users may see:
- Personalised Cashback Offers: Tailored offers for users based on purchase behaviour, similar to platforms like Rakuten and Ibotta.
- Increased Payment Options: Beyond PayPal and direct deposit, CoinOut could support cryptocurrency payouts or digital wallets like Apple Pay.
- Enhanced Data Privacy: With increased scrutiny on data privacy, CoinOut may invest in more secure systems to build trust with users.
3. Overall 2025 Prediction
With the continued growth of the fintech sector and its strategic alignment with IRI Worldwide, CoinOut’s net worth could hit $50 million by 2025. Key drivers of this growth will be user expansion, international market entry, and data monetisation. If the app maintains its simplicity and improves its features, it could secure a leading position in the cashback industry.
Conclusion
CoinOut’s net worth has grown significantly since its humble beginnings on Shark Tank. From a small app valued at just over $1.6 million to being acquired by IRI Worldwide, the journey has been nothing short of remarkable.
With IRI’s resources and the rising value of data analytics, CoinOut’s valuation could easily surpass $20 million in the coming years. Its simple, universal cashback model and strong user base give it a unique position in the crowded cashback market.
FAQs About CoinOut Net Worth
How much was CoinOut worth after Shark Tank?
After Shark Tank, CoinOut’s valuation was estimated to be around $1.6 million based on the deal made with Robert Herjavec.
Who owns CoinOut now?
CoinOut is currently owned by IRI Worldwide, a data analytics company that acquired it in 2021.
How does CoinOut make money?
CoinOut makes money through affiliate commissions, data monetisation, and advertisements within the app.
Is CoinOut still operating today?
Yes, CoinOut is still operational and has grown significantly since being acquired by IRI.
Can you make money using the CoinOut app?
Yes, you can earn cashback by scanning receipts and cashing out via PayPal, direct deposit, or gift cards.
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