Rewards-based Shopping Portal Launched

  |  May 5, 1999   |  Comments

Menlo Park, CA-based ad-backed incentive marketer launched an online shopping portal that connectsconsumers with online merchants and then gives them cash rebates of up to 25percent on their purchases.

Menlo Park, CA-based ad-backed incentive marketer launched an online shopping portal that connects consumers with online merchants and then gives them cash rebates of up to 25 percent on their purchases.

Through, shoppers receive rebates on purchases from merchants such as, CDnow,, Dell Computer, and eToys, among others. said it takes advantage of e-commerce affiliate programs to earn cash rebates, which are sent to consumers on a quarterly basis. Because is supported by advertising and sponsorships, "every cent of every rebate is passed through to members," the company said. was founded by Internet entrepreneurs Paul Wasserman and Alessandro Isolani, along with co-founder John Nirenstein -- a veteran of five Silicon Valley start-ups.

The company generates revenue through the sale of ads that are displayed in a small window at the top of pages. The company collects demographic information to better target its ads.

"We're literally paying people to shop," said Wasserman, president and chief operating officer. "For our members, is like the DiscoverCard of the Web. . . .Our advertisers gain access to Internet shoppers with credit cards at the ready, and our participating merchants can lower their customer acquisition costs substantially."

To earn rebates, shoppers must access participating merchants through and use their email address when making purchases. The site was developed in conjunction with Roundpeg and designed by Think New Ideas, both of San Francisco. received venture capital funding from Foundation Capital.

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