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Business Operations Business Models

How Does Dosh Make Money (Business and Revenue Model)

The Dosh business model

Dosh logo
Here’s what you should know:
  • What is Dosh, and how does Dosh work?
  • How does Dosh make money?
  • Affiliate Commissions
  • Dosh profit and revenue
  • What is the Dosh business and revenue model?
  • Dosh funding, net worth, and valuation
  • Dosh subsidiaries, acquisitions, and exits

How does Dosh make money if it’s free to use and they pay you? Here is a full, in depth, breakdown of their main revenue stream and services they offer, as well as the Dosh business model, their profit and revenue, and how Dosh works.

What is Dosh, and how does Dosh work?

Dosh is a free cash back app that automatically gives cash back whenever a user shops, dines, or books a hotel at any of Dosh’s participating merchants, without the need for coupons or receipt scanning.

Founded in 2016 by Ryan Wuerch, Dosh went on to get acquired by Cardlytics on March 1, 2021, for $275 million.

Since that time, Dosh has paid out more than $50 million in cash back to its more than 6 million users since its founding back in 2016.

So, how does Dosh work? To use Dosh, you can first download their mobile app in the Apple App Store or Google Play store and link your cards, PayPal, or Venmo account.

Once your cards are connected to Dosh, you can begin earning cash back from the more than 10k stores and 600k hotels that Dosh partners with when you make purchases at any of them.

Then once your cash back rewards reach $25 or more, you can then choose to transfer it to your bank, PayPal, Venmo, or donate it to charity.

Some of Dosh’s competitors include HoneyGroupon, Ibotta, RetailMeNot, Upside, Fetch Rewards, Rakuten, and other cash reward programs.

Dosh App in Apple App Store | Dosh Business Model | How Does Dosh Make Money? | How Does Dosh Work?
Source: Apple App Store | Dosh

How does Dosh make money?

According to Dosh and other sources, Dosh has partnered with over 10k stores and 600k hotels and has paid out more than $50 million in cash back to its more than 6 million users since its founding back in 2016.

So how does Dosh make money off of all these participating stores?

Below is a breakdown of how much money Dosh makes and its revenue model. Including their main revenue stream and how much they charge for their services.

Here is how Dosh makes money in 2022

Dosh has a revenue model that makes money in just one (1) way – by getting paid affiliate commissions from stores and hotels they partner with.

#1. Affiliate Commissions

Dosh makes all of its money by getting paid commissions from its participating stores.

How does Dosh make money from affiliate commissions? Dosh makes money every time a Dosh user clicks on one of their links to a participating store and makes a purchase.

As noted above, Dosh has more than 10,000 participating stores and 600,000+ participating hotels that they earn eligible commissions from. Although it’s unclear how much money Dosh receives in commission per sale.

Dosh app | Dosh Business Model | How Does Dosh Make Money? | How Does Dosh Work?
Source: Dosh

Note: After Dosh gets paid a commission from a sale, they then share a piece of that commission with its members in the form of cash back rewards.

Dosh profit and revenue

Dosh has not released any official reports in regards to company earnings.

Note: Because CARDLYTICS, INC., the parent company of Dosh, is a publicly traded company, under the Securities Exchange Act of 1934, they must file continuous financial filings with the U.S. Securities and Exchange Commission (SEC). You can find all of Cardlytics’ publicly released financial reports, including annual reports, through Cardlytics’ investor section on their website.

What is the Dosh business and revenue model?

Dosh makes money through a few revenue models that they combine within their company, they are:

  • Affiliate business model
  • B2B2C (partnerships) business model
  • Business to business (B2B) business model

Dosh funding, net worth, and valuation

Dosh’s Crunchbase profile shows Dosh has raised $87 million over 8 rounds.

On March 1, 2021, Dosh was acquired by Cardlytics for $275 million.

Dosh subsidiaries, acquisitions, and exits

To date, Dosh has not made any acquisitions, investments, or exits.