® Yahoo co-founder Jerry Yang (through his AME Cloud Ventures) donated $6 million to seed funding for startup Caden in November. Caden plans to pay users to share personal data, including what they have purchased or watched on her mobile app.
The Wall Street Journal reports:
Startup Caden Inc. operates an eponymous app that allows users to download their data from apps and services (such as Amazon.com Inc. and Airbnb Inc.) to their personal “oevault”. If you agree to share that data for advertising purposes, you may earn a portion of the revenue the app generates from it. You can also access personal analytics based on that data….
Caden, which has been testing with a limited group of users, plans to begin public beta testing with 10,000 users early next year. One option, he said during the public beta test, is to anonymize and pool the data and then exchange it for $5 to $20 a month, according to Caden founder and CEO John Lore. increase. Reward amounts are determined by an “oedata score,” which reflects factors such as whether the consumer has answered demographic survey questions and data on apps and services that the consumer has shared. advertisement. Marketers can then form audience segments and tailor ad targeting and messaging to those groups. For example, users can consent to share their ride-sharing history, allowing advertisers to create segments of people who take a certain amount of rides. This will ultimately result in consumers paying up to $50 per month, Caden said.
A third option allows advertisers to take direct action based on the data Caden understands about a particular user. For example, if a consumer participates in a department store’s loyalty program, the store offers rewards for sharing their individual shopping history on Amazon, which can be used to make more personalized offers. may provide. This can generate thousands of dollars per year from participating. user, the company said.
Caden also wants the data it can collect to be appealing to consumers. For example, users can search for restaurants they’ve eaten at in a particular city or how much money they’ve spent on a particular category across different apps, executives said. Amarachi Miller, Caden(TM)’s head of product, said of the results of the streaming music service’s (TM) sampling of each user’s listening habits at the end of the year.
Caden says it will initially only sell anonymized and aggregated data that is not associated with individuals. As brands are able to offer more and more personal promotions to their users, users will be able to see which brands and partners they work with, and users will be able to control which brands have access to their information. can be controlled, the company said.
The digital advertising industry wants new marketing guide data, especially since Apple started requiring apps to ask for permission before tracking users, the article points out.
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