Datacoup is currently running a trial where they pay people $8 a month for their personal data, including social media accounts and credit or debit card transactions. The New York startup wants to make money by selling the data gathered to advertisers, according to MIT Technology Review.
Most people already give away their personal data daily by using Google's search box, swiping their loyalty cards in grocery stores, or availing of a free service in exchange of letting marketers observe their behaviors. According to Datacoup chief and co-founder Matt Hogan, he is offering people a way to be directly involved in the gleaning of information about their online activities, the report explained.
Hogan states nearly 1,500 people have joined the beta trial. Within a couple of months, the service will be opened to the public, the report added.
The information that Datacoup gathers can be very useful to advertisers, Hogan said. This is because only a few data providers can merge data about a person's online activity with spending records, MIT Technology Review reported.
Hogan said: "Both of those are valuable; when you layer one on the other you unlock more value, and there's no way to do that other than from the user themselves."
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