32

I had no idea where to ask such a question and I tried to read their terms of use / privacy statements / about us page to find info about how this popular cost splitting app makes money to employ people.

They don't even accept donations. Sounds very sketchy, but apparently they don't really sell data or even offer this app to businesses. Does anyone know how they make profit?

top 10 comments
sorted by: hot top controversial new old
[-] dmonzel@lemmy.world 21 points 1 year ago

This is from the Play Store listing of the app

[-] Lazycog@sopuli.xyz 9 points 1 year ago

Now I really feel stupid, didn't check Play Store... thanks a bunch!

[-] deleted@lemmy.world 7 points 1 year ago

I’m curious what kind of data they are selling.

Like Joe always default on his payments? Or Nancy occasionally let Lucy pay the bill. 

[-] Synthead@lemmy.world 2 points 1 year ago

Write them and ask

[-] DrQuint@lemm.ee 1 points 1 year ago

I'm never surprised by what data people sell.

I'm always surprised there's someone buying.

[-] slazer2au@lemmy.world 10 points 1 year ago

You have made an assumption that they are making a profit. They could be in Startup phase where they are getting their product to market before finalising the monetization method in place.

The guess out of my ass is that they either plan to provide an information pipeline to financial institutions for customer modelling or be bought out by the current Dutch player called Tikkie.

[-] Lazycog@sopuli.xyz 2 points 1 year ago

This could also be it, but startup phase for 10 years? I mean that would be believable if it wasn't for the size of the team.

[-] Chickenstalker@lemmy.world 2 points 1 year ago

> tikkie

Heh. Dutch 4channers on /int/ were mercilessly mocked as skinflints for this app.

[-] me_ow@feddit.nl 8 points 1 year ago

When you pay people back through the app they take a small commission of the settlement. Other than that it's probably also not a very expensive app to run due to its simple nature.

[-] Lazycog@sopuli.xyz 2 points 1 year ago

I started thinking about how much they'd actually make with this monetization scheme, but they employ 6 software developers and have a team of 4 in the upper management. The company has been running for 10 years with this single product.

this post was submitted on 01 Oct 2023
32 points (100.0% liked)

No Stupid Questions

35868 readers
402 users here now

No such thing. Ask away!

!nostupidquestions is a community dedicated to being helpful and answering each others' questions on various topics.

The rules for posting and commenting, besides the rules defined here for lemmy.world, are as follows:

Rules (interactive)


Rule 1- All posts must be legitimate questions. All post titles must include a question.

All posts must be legitimate questions, and all post titles must include a question. Questions that are joke or trolling questions, memes, song lyrics as title, etc. are not allowed here. See Rule 6 for all exceptions.



Rule 2- Your question subject cannot be illegal or NSFW material.

Your question subject cannot be illegal or NSFW material. You will be warned first, banned second.



Rule 3- Do not seek mental, medical and professional help here.

Do not seek mental, medical and professional help here. Breaking this rule will not get you or your post removed, but it will put you at risk, and possibly in danger.



Rule 4- No self promotion or upvote-farming of any kind.

That's it.



Rule 5- No baiting or sealioning or promoting an agenda.

Questions which, instead of being of an innocuous nature, are specifically intended (based on reports and in the opinion of our crack moderation team) to bait users into ideological wars on charged political topics will be removed and the authors warned - or banned - depending on severity.



Rule 6- Regarding META posts and joke questions.

Provided it is about the community itself, you may post non-question posts using the [META] tag on your post title.

On fridays, you are allowed to post meme and troll questions, on the condition that it's in text format only, and conforms with our other rules. These posts MUST include the [NSQ Friday] tag in their title.

If you post a serious question on friday and are looking only for legitimate answers, then please include the [Serious] tag on your post. Irrelevant replies will then be removed by moderators.



Rule 7- You can't intentionally annoy, mock, or harass other members.

If you intentionally annoy, mock, harass, or discriminate against any individual member, you will be removed.

Likewise, if you are a member, sympathiser or a resemblant of a movement that is known to largely hate, mock, discriminate against, and/or want to take lives of a group of people, and you were provably vocal about your hate, then you will be banned on sight.



Rule 8- All comments should try to stay relevant to their parent content.



Rule 9- Reposts from other platforms are not allowed.

Let everyone have their own content.



Rule 10- Majority of bots aren't allowed to participate here.



Credits

Our breathtaking icon was bestowed upon us by @Cevilia!

The greatest banner of all time: by @TheOneWithTheHair!

founded 1 year ago
MODERATORS