How they describe themselves: Offermatic is pioneering a new model for offers that changes how consumers save money, and how merchants acquire customers.
Consumers register any credit or debit card with our free online service to receive highly targeted offers based on their actual spending history. Customers then shop as they normally would, in any store offline or online. Since the offers and savings are loaded directly to their card, there are no coupons or vouchers to deal with.
For merchants, Offermatic enables them to precisely target customers based on their actual spending history with Smart Offers™. Merchants can acquire guaranteed-new customers - who are already spending in the category – on a 100% pay for performance basis.
How they describe their product/innovation:
Retailers are constantly looking for new ways to increase sales. Over $20 Billion is spent on consumer promotions each year, but while promotions can be effective, they are costly and reduce margins. Offermatic launches "Free Rebate™" for merchants - the first model for customer promotions that enables any retailer to increase sales (at zero cost) via FREE automatic rebates from Offermatic.
With Free Rebate™, any merchant – small or large, online or offline – can offer compelling automatic rebates to its customers and grow sales at no cost. No integration is required and it is very easy to set up: you can create your Free Rebate™ offer in less than 5 minutes!
This model enables merchants to get a great promotion to increase sales from current customers at no cost, while Offermatic gets new customers for its service. Any merchant can get access to FREE automatic $5 rebates to offer to their customers – no strings attached.
Key Executives: Faisal Qureshi (CEO & Founder), Arnaud Collin (VP Marketing & Product), Tim Welch (VP Sales)
Key Board Members: Aileen Lee (Kleiner Perkins Caufield & Byers), Omar Hamoui (Entrepreneur & Former Founder of Admob)
Key Investors: Kleiner Perkins Caufield & Byers, SV Angel, Omar Hamoui
Key Partnerships: Restaurant.com, Fandango, Kmart, Drugstore.com, Buy.com
Contacts:
Bus. Dev. & Sales: Tim Welch, VP Sales, tim@offermatic.com, 650-549-4348
Press: Arnaud Collin, VP Marketing & Product, pr@offermatic.com, 408-772-9316
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