Caden, an app that pays you for sharing your personal data for advertising, is expanding its public beta testing to more users early next year.
Based on your personal ‘data score’, Caden will pay you anywhere from $5 to $20 monthly, or even more. Aside from formally collecting data for targeted advertising, Caden says its analytics are useful for users to track their spending across apps and categories.
Caden Expansion of Public Beta Testing
Though criticized, targeted advertising runs the internet for most people. Offering up your digital data for browsing the free content has taken many shapes, with now being paid for sharing the data.
Caden is one such service that offers money to people who share their online interests systematically. Backed by Yahoo co-founder Jerry Yang, Caden closed a $6 million round of funding from Streamlined Ventures last month.
Interested users need to download the Caden app, which will suck their data from various apps like Amazon, Yelp, Airbnb, etc., and store it in a personal vault. And with users’ consent, Caden will share the data with advertisers – who pay Caden, and you get a part of that revenue.
This could be between $5 to $20 a month, varying mostly on the personal “data score“. This is based on several factors like which app data is being used, consumers’ answers based on demographic surveys, and which services users are using.
The service has been testing this program with a limited number of people till now and is planning to start a public beta testing of 10,000 users early next year. While sharing the user data for targeted advertising, Caden says its analytics are useful for the users to tune their own spending choices.
The app will show how much users spend across categories and different apps. Further, it shows users the advertisers they’re sharing the data with and offers deep-level customizations on what data to be shared.