Freemium

Freemium is a business model in which a company offers a basic version of its product or service for free, while charging for advanced features or additional functionality. The term "freemium" is a blend of the words "free" and "premium." The idea behind this business model is to attract a large user base with a free version of the product, and then convert a percentage of those users into paying customers by offering additional features or functionality. For example, Dropbox offers a free version of its cloud storage service, which allows users to store up to a certain amount of data. However, if a user needs more storage, they can upgrade to a paid version of the service. Similarly, mobile games often offer a free version of the app, but charge for in-game items or upgrades. The freemium model has become increasingly popular in the digital world, particularly with software and mobile app developers.