Madison Reed has raised $32.1 million since launching 15 months ago.
The program will end on July 30.
Microsoft said today it will discontinue its Bing cashback program, effective July 30 at 9 p.m. Pacific Standard Time. Consumers will have a year to redeem any remaining cashback rewards, the company says.
“We did not see the broad adoption that we had hoped for,” says Yusuf Mehdi, senior vice president, online audience business group, in in a blog posting. “So we are taking all the learning from the effort and putting it into some new programs for you and our advertisers designed to provide amazing shopping experiences for consumers and great opportunities for advertisers.”
To promote use of online shopping through the Bing search engine, Microsoft offered consumers a percentage of the product price as cash back from participating retailers. Rebates are deposited into consumers’ cashback account. Consumers can receive rebate checks or have the funds transferred to bank or PayPal accounts.
Under the double cashback program, consumers could earn up to 25% in rebates. The double cashback program ended last year.