Freemium: Business model with free entry

Freemium is a business model used by startups and digital services where basic products or services are offered for free, while advanced features or premium services are charged for. This approach allows users to explore the value of the offering without an initial investment and incentivises an upgrade to paid versions for additional features or benefits. By implementing a freemium model, companies can build a broad user base, increase customer engagement and ultimately generate revenue through conversions to paying customers.