CoinOut, the smart receipts app that lets you scan receipts for cash back, was pitched on Season 9 of Shark Tank. The app rewards users real cash for receipts and from virtually any retailer for any product purchase.
Entrepreneur and law student Jeff Witten of New York City went into the Tank seeking an investment of $250,000 in exchange for 7.5 percent equity. He left with a deal from Robert Herjavec: $250k for 15 percent. [Related: 27 Favorite ‘Shark Tank’ Products at Amazon — New List]
Since Shark Tank, Witten reports that CoinOut has more than one million members using the app in the United States.
In October 2020, he announced that CoinOut will soon release a new feature “that allows companies to create their own proprietary customer panel, a customized experience to understand customer and brand preferences dictated by truth in purchasing rather than antiquated market research.”
Note: Amazon recently launched its own Shopper Panel in which participants can earn monthly rewards by sharing receipts from purchases made outside of Amazon.com and by completing short surveys. New episodes of Shark Tank air Fridays at 8 pm on ABC.