David Leeds, founder and CEO of Tango Card, discusses the market landscape for corporate rewards and incentives.
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“So there are about two million companies globally that use rewards and incentives in their business”
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More from David Leeds
Disclosure
Leeds: Tango Card Averages $1,000 Monthly Net Revenue Per Active Customer
“About a thousand of our customers, so we have 2000 customers, About a thousand of those transact with us every month. We generate about a thousand dollars a month in actual net revenue from those customers and our cost to acquire each and our cost to, and our …”
David LeedsJan 9, 2018▶ 15:19899 How to Reward Customers with GiftCards at Scale Using $10m+ Revenue TangoCard
PredictionNot checkable as stated
Leeds: Multiple rewards companies will reach IPO scale in 5-6 years
“Multiple companies should become large enough to go public, but the timeframe for that is, you know, another five to six years.”
David LeedsJan 9, 2018▶ 17:25899 How to Reward Customers with GiftCards at Scale Using $10m+ Revenue TangoCard
Disclosure
Leeds: Tango Card Averages Just Over 6% Margin on Sent Rewards
“There's a huge range based on the various folks we work with, but the average ends up being a little bit north of six percent.”
David LeedsJan 9, 2018▶ 4:00899 How to Reward Customers with GiftCards at Scale Using $10m+ Revenue TangoCard
AssertionPartly supported
Leeds: Overall Gift Card Industry Breakage Averages Roughly 4% to 5%
“I think, you know, the, if you kind of net it all out, there are, you know, probably four or five percent of the value of a gift card, you know, ultimately does not get used.”
David LeedsJan 9, 2018▶ 4:24899 How to Reward Customers with GiftCards at Scale Using $10m+ Revenue TangoCard
Disclosure
Tango Card has raised $9.4M in equity capital
“No, so we've raised 9.4 million dollars of equity capital. The last the vast majority of that, about seven million dollars came in 2013 and 2014 from Floodgate, which is a Bay Area based venture firm and a firm called Firefly now used to be Allegro Venture Par…”
David LeedsJan 9, 2018▶ 7:42899 How to Reward Customers with GiftCards at Scale Using $10m+ Revenue TangoCard
Disclosure
Tango Card secured a $10M venture debt facility from WTI
“And then actually in June of this year, we closed on a ten million dollar venture debt facility with a firm called WTI in Portola Valley.”
David LeedsJan 9, 2018▶ 8:00899 How to Reward Customers with GiftCards at Scale Using $10m+ Revenue TangoCard
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