We now have over 80,000 people who have earned stock. That’s an enormous number of shareholders. No two ways about it, we’re launched.
With the changes we made November 1, offering cash back on top of stock back, we’ve been watching several metrics like a hawk. On top of that, our growth (as you’ll see) allows us to have credible conversations with investment banker / investor types, and whenever possible, I want to be able to share information … Continue reading Pre Holiday Update
One update to cover them all. Bitcoin Exposure In the past, iConsumer has offered Bitcoin as a reward. We stopped that practice several years ago, but we still have assets and liabilities linked to that effort. Also, we allow you to redeem cash back balances via Bitcoin. The current activity in the Bitcoin world (FTX … Continue reading One Update to Cover Them All
With great volume comes great benefits, but also greater support costs.
The number of people interested in cash back rebates far exceeds the number interested in experiencing the growth of a startup. It was a great place to start, but it’s time to move on. Our belief is that the marriage of the two (great upside with current rewards) is an unbeatable combination.
Part of the promise of iConsumer was that I would share our journey in educationally focused posts. In that spirit, here are some of the weird aftereffects of being pioneers in the Reg. A+ equity crowdfunding world and our leveraging them to make lemonade.
A Rising Stock Price Excites Our Members. They may shop more and join faster.
And that might just lead to a rising stock price!
iConsumer can be a self-fulfilling prophecy (higher stock price –> more members –> more shopping –> higher stock price). It’s our members who have to start that ball rolling.
We’re a penny stock on the OTC market. We have very little float. Possibly a third of the float is held by people who can’t or won’t sell. And that’s the silver lining.
Our relationship with retailers falls into the category of “affiliate marketing” or “performance marketing”. Amazon uses it (they call the folks who hawk Amazon on their sites “associates”). Rakuten (formerly eBates – which sold for over $400 per member) is in this market. Honey, which sold to Paypal for over $200 per member, is also an affiliate marketer. The NY Times is an affiliate marketer, via their Wirecutter site.