With just a few taps, the app would improve your privacy settings on sites like Facebook and LinkedIn, and monitor your email address for data breeches. It didn’t hit users with ads or collect their personal data.
Jumbo moved its best features behind a paywall over the last few years. Jumbo had about 25,000 people sign up for its paid plan.
Pierre Valade, Jumbo’s CEO, thinks they made a mistake. We put more stuff behind the paywall in order to increase the consumer subscription business. There were few things left in the free product at the end of the day.
Jumbo has a new business model. Jumbo will look to sell premium features for businesses, instead of charging consumers, after all of its previously paywalled features are free. Valade hopes that by building enthusiasm among consumers, they will have a more attractive product for companies that want to protect their employees.
He says that they can give the product away to more people because it is free, and still make money on the B2B model.
Designed to go viral
Jumbo has an offer of up to $1 million of identity theft insurance. Users who have their credit cards compromised can use the insurance to cover their losses. This does not apply to cases where user is at fault, such as if they fall prey to a scam.
Users only receive $25,000 of identity theft insurance. They get another $25,000 of protection for every user they refer.
The app is trying to generate viral growth. Jumbo also offers to scans the email addresses of your contacts, in addition to scanning your own. You can earn additional identify theft insurance by inviting people to the app.
Jumbo’s other virtues include identify theft protection.
It has the ability to navigate websites’ labyrinthine privacy menus. It’s possible to prevent other LinkedIn members from knowing if you viewed their profiles with one tap. Jumbo can auto-delete your search history on the internet without you having to wait 180 days for it to be deleted on the internet.
Similar to Lockdown, Jumbo has a tracking protection feature that uses a local Virtual Private Network to block connections to known tracking sites. This goes further than Apple’s own anti-tracking features, which merely hide your unique advertising ID from apps.
There are features that didn’t make sense when the company was focused on peddling subscriptions.
He says that they can now work on making the product better because they aren’t spending as much time trying to convince people to pay.
The business push
Jumbo doesn’t have any specific offerings yet and doesn’t plan to launch them until later this year.
Jumbo will offer additional features to protect employees personal accounts against hacking. Jumbo doesn’t collect any data from users’ accounts as it scans their security settings to make sure they use features like two-factor authentication without being overly intrusive.
Valade says that the companies that they talk to don’t want to have anything to do with employee data. They want to make their employees safer, but they need to have the trust of their employees.
Jumbo has always been against monetizing its products with ads and data mining, which is why the new model is necessary. Too many people didn’t bother to try Jumbo because of the paywalls. A product that anyone can check out for free seems to be what he’s building now.
He says it is better to build something that millions of people can use.
