If I had an opportunity to invest in a company, I would select RewardLoop. They are a mobile marketing and loyalty product that works directly with the merchant’s POS system to reward customers for what they actually buy.
This is a compelling product for me because there are many customers out there who are looking to easily save money for things they purchase often. Shows like Extreme Couponing show the lengths that people will go to just to save money. I have often hoped for some sort of smartphone app that would allow me to use my phone to realize these savings, and now RewardLoop is giving merchants this capability.
There management team is also very impressive. The two co-founders, Jeff LaPorte and Nigel Malkin, complement one another’s skills well. Jeff has extensive experience in mobile application development, while Nigel has an impressive tenure in entrepreneurial ventures. I believe the team they’ve built, while small has a nice cross section of skills to make the product and company successful.
The market for this type of product seems big enough to support this type of product. Most importantly they seem to be going through a transition to adopt technology that helps them engage better with their customer base. Smart phones and tablets are making it so customers want apps that allow them to engage with their merchants in new and deeper ways. RewardLoop is giving them a meaningful off-ramp to do this.
Finally, the true test for whether I would invest in a product is whether or not I’m anxious to become a user myself. And the answer is a resounding “Yes!” I hope RewardLoop comes to a retailer near me very soon because I would sign up and shop there often just to take advantage of the rewards they’d offer me!