Lootsie has launched a customizable third-party rewards platform for app developers.
The platform allows developers to give away rewards points within their apps. Those points can be redeemed for consumer products and are an incentive for users to stay engaged with an app.
Previously, the Culver City company was focusing on running an in-app network for brands to offer product discounts and giveaways. An alternative to banner advertisements, developers were paid a fee when a brand’s discount or giveaway was claimed by one of their users.
It’s now repurposed that technology so that app developers can facilitate giveaways themselves. Using an API, developers can connect their apps to Lootsie’s marketplace of consumer products. The look and the functionality of the individual app rewards programs can also be customized.
“Whether it’s a consumer app, fitness app, or a paper-toss game, every developer should start thinking about their app as an extension of their brand and loyalty as a crucial part of the user experience,” said Lootsie Chief Executive Marc Mitchell in a statement. In the future, rewards programs “will be a core component to every publisher and brand’s engagement, retention and revenue strategy.”
Lootsie raised $3.5 million from a number of angel investors in January, including Pinterest Head of Product Management Tim Kendall and SLP Ventures founding Partner Brad Schwartz.
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