I had no idea where to ask such a question and I tried to read their terms of use / privacy statements / about us page to find info about how this popular cost splitting app makes money to employ people.
They don’t even accept donations. Sounds very sketchy, but apparently they don’t really sell data or even offer this app to businesses. Does anyone know how they make profit?
When you pay people back through the app they take a small commission of the settlement. Other than that it’s probably also not a very expensive app to run due to its simple nature.
I started thinking about how much they’d actually make with this monetization scheme, but they employ 6 software developers and have a team of 4 in the upper management. The company has been running for 10 years with this single product.