Service lets web users sell their data for cash

Datacoup is a marketplace that lets anyone sell their personal information direct to advertisers.

Most people are uneasy about companies making money from the personal data they make available online, but are happy to turn a blind eye if it means they can continue using services such as Facebook for free. Aiming to give web users more control over what they share, Datacoup is a marketplace that lets anyone sell their personal information direct to advertisers.

The data we create on platforms such as Facebook, Twitter, Amazon and Google are worth billions of dollars to advertisers, data brokers and businesses. Through Datacoup, users pick and choose basic information, real time social feeds and even credit and debit card purchases if they’re happy to share them with advertisers, as well deciding which brands can buy their information. Datacoup stores the data — which is all anonymous — under bank-level encryption and acts as a broker to sell it to businesses who want it. It then hands a portion of the sale — typically around USD 8 — back to users on a monthly basis.

Datacoup may be just another company looking to make money from data, but the startup recognizes businesses’ drive to scrape information often leaves consumers’ privacy ignored, and what is a cash cow for brands is taken from web users for free. The service lets users maintain greater control over their information and also pays them for handing it over. Are there other ways to get consumers more actively involved in the management of their own data?