bounty is a free mobile app that rewards you for checking in at places! Every time you walk into partner places, the app’s ‘intelligent assist’ feature automatically recognizes your location and alerts you to collect reward points. Interestingly, this technology works even without your GPS being on or when your 4G/3G is switched off too.These reward points can be redeemed at our merchant partner’s online sites or offline outlets.
The idea to start about this venture is how knowing and understanding a simple everyday activity like eating or a weekly activity of visiting a mall can be so much more powerful in driving consumer experience and also result in businesses targeting with a context instead of spamming the consumer with offers. Being from an analytics and data sciences background, this problem of mapping offline consumer behavior excited us and thus bounty was born.
It is founded by Satish Medapati. Satish has about a decade of experience.He did coated steel sales, credit risk modeling, analytics-consulting, banking & service delivery before becoming an entrepreneur. He is passionate about solving problems that are integral to consumers through the use of mobile and data sciences.
Anita heads the technology and has 18 years experience in building and managing large scale IT projects. Sandeep manages the partnerships and alliances while Amitesh looks after operations and customer service. They have a team of 8 full time employees, 3 part-time employees and few interns.
The uniqueness about this start-up is the way they eliminate consumer pain points in getting reward points seamlessly and without any friction. There is neither a plastic or a digital car nor a phone number tied to it nor calling etc involved. You just download the app and forget about it. Every time you walk in to our partner places, you get rewards automatically for doing nothing as the app does everything for you. It works even without internet / GPS. These rewards can be redeemed for a host of online or offline gift cards with no conditions whatsoever limiting. Hence bounty points are equivalent of cash.
They see a tremendous opportunity for an app like bounty where on one-end they are eliminating any friction to a consumer and also driving value to offline businesses. They act as a connect between the digital world and brick and mortar stores.
Their revenues are driven by the need of offline businesses to acquire, engage and retain their consumer base. The single most problem for any offline business is to get foot falls. If that’s so, then why not reward people for just walking into your store? They would love to if only they knew who walked in. That’s where we come in. Bounty is a digital interface for a physical location in real world. The business can distinguish between a new and an existing customer, recommend dishes to eat in a restaurant or show them to explore something that’s relevant to them in a retail store.
They are truly driving consumer behavior with rewards/incentives and that helps both the consumers and businesses. They are laying a nice foundation for the offline-online bridge. bounty is always hyper-location aware, is in-context , serves instant gratification and gets personalized over time. Your experience of rewards or engagement will never be the same again !
Geekopedia wishes bounty best of luck for future endeavors.