Using our app is free. Yes, we mean that. You pay nothing. Nada. Zilch. 🎉
How is this possible? 🤔 We are happy to explain how our revenue model works.
Our automated software processes anonymized account information into statistical data. Many companies are interested in this statistical data in order to make important strategic marketing decisions. However, we don’t just give it away for free to anyone who asks. And above all, we certainly not provide any of your personal information. We package your data together with other users’ data up into anonymized statistics and overviews which means no personal information is provided. 📈📉
Want an example?
Imagine you spend a lot on shoes. 👢👞 This shows up in your spending pattern and could be of interest to a retail shoe chain. We do not provide your name to this chain, but we will include your purchases in the statistics, for example on the type of people who like to buy shoes. The shoe retailer can use these statistics to gain a better insight into their market. Such information indicates to the chain possible locations to open up new shoe shops.
In order to safeguard anonymity, if there are only a limited number of Cake users who have purchased shoes in the period in question, we do not provide these statistics.
The retailer is prepared to pay us for these statistics. However we’d like to reiterate that: we do not provide your nominative identity to these companies, not in a million years. We guarantee this.🔐
Companies interested in this statistical data are our commercial partners and they are the source of Cake’s financial income. This way, we ensure that using the app remains free for all of our users. 👍
But the icing on the top is that we want to give you a share of the revenues. This happens through Rewards. 💸