Jingit, a startup based in Edina Minnesota, has raised $7 million dollars in investment capital according to a regulatory filing. The startup was founded last year by Joe Rogness, the former CEO of tech consultancy Two Fish and Todd Rooke a former executive with Hewlitt Packard.
Jingit allows ordinary consumers to earn up to $15 per week for watching ads and giving feedback on them. Household brands like Walmart, Hershey and Kraft are in Jingit’s stable of clients.
The company partnered with US Bank last year which issues a debit card on their behalf. Jingit customers’ earnings from ad watching is directly deposited onto the debit cards. Each ad yields the user between $.05 and $.50 cents. Payments vary based on advertiser, market study, and demographics. For instance advertisers may pay more to have an 18 year old watch an advertisement for a video game rather than someone older. Kraft may pay more for people in an older demographic to watch their ad.
Jingit has fail safes in place to make sure that their users are actually watching ads. The ad will stop if another browser window or tab is opened while the ad is playing.
The startup gives advertisers unparalleled ability to drill down to their ideal customer. They’ve found that advertisers are willing to pay more money for this kind of targeted feedback.
Prior to this $7 million dollar round, Jingit had raised $3.5 million dollars.