Quick fire pods this week, and this time our guest is @MattSenter, CTO, Co-Founder of Lolli.com and Jason Mamoa lookalike.
Mostly based in North Carolina and launched in 2018, Lolli is a service which requires no technical skills, but allows people to earn Bitcoin rewards whilst shopping online, without having to buy it directly.
Through their browser extensions (Chrome, Firefox, Edge and Safari), iOS app (with Android beta testing shortly) or website, Lolli generates leads for a retailer, for which they receive a commission, and they pass on the lion’s share to the shopper in Bitcoin. The business model does not require them to collect and sell personal information, and the customer can withdraw their rewards (in BTC or USD) once they’ve earned $15.
We speak to Matt about:
Lolli the Business - Being able to demonstrate competent management of customer assets is good from an investment perspective. Launched in a bear market but were still having terrific growth. US only for now, but the next obvious stops would be the English-speaking countries, with the first stop being Canada, subject to regulatory hurdles. 20 remote staff, plus contractors as required.
Lolli Merchants – More than 1000. How they build relationships with retailers. Discuss the little effort required from the retailer “minutes to set up if they are on a supported platform”. The challenges of onboarding larger brands as they are more wary of jumping into Bitcoin and may be pursuing other strategies.
Customers – Estimates 60-70% are first time bitcoiners, and 20-25% are female, goal to educate about “not your keys, not your coins”. All website activity increases when Bitcoin moons. Customers posting screen shots of gains, with some effectively getting their purchases for free.
Thanks Matt.
Mamoa 1 – 0 Culkin
Pod Shout-outs
www.twitter.com/IncredibleCulk (Matt Senter lookalike)
www.twitter.com/alexadelman (Lolli CEO)
www.twitter.com/trylolli (Official account)
www.twitter.com/Walmart (Missing out)
Contact Us
www.twitter.com/2BitIdiots (here if you’d like to be a Pod guest)
Or visit our website:
www.2bitidiots.com for links to the pod on your favourite podcast app.
Thanks for listening.