DEMO.com > MoLo Rewards, Inc.

MoLo Rewards, Inc.

MoLo Rewards

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Company Contact
In The News

Conference: DEMOfall 09
Market Segment: Consumer Software and Services
Funding Amount: $100,001-$500,000
Funding Round: N/A
Funding Details: Funded by founders.
Competitors: Coupons.com, shortcusts.com, cellfire, News America.
Product Description: MoLo Rewards facilitates the immediate redemption and use of loyalty rewards and coupons in a mobile green environment utilizing Near Field Communication (NFC) Radio Frequency Identification (RFID). Our technology, protected by an already-issued patent, allows an end user to interact with the point of sale (POS) and redeem within seconds every valid coupon within their mobile wallet with a single wave of the device at the POS terminal.
Market Opportunity: There are currently over 218 million cell phone users, 1.3 billion individual loyalty memberships and over 40 million online coupons used in the U.S. There are over 50,000 retail locations currently using contactless payment technology including Jack In The Box, AMC movies, Best Buy and Home Depot.
DEMO Says: Having seen many failed attempts to create a mobile electronic coupon market, we were at first a bit skeptical about MoLo Rewards. While we would like to see a bit more retail and brand marketing on the MoLo Rewards team, they've still figured out that this is an ecosystem play and have carefully put all the pieces in the right place with the right value proposition to make MoLo Rewards work. They'll surely see some competitors coming into the market, but there are green fields for the companies that get it right. We think MoLo Rewards is one of those companies.

Contact: Robert Sprogis; rsprogis@molorewards.com
Company Address: 5224 West State Rd. 46 #113
Sanford, FL 32771
Primary Phone: 407-574-8884
International Phone: 724-799-0731
URL: www.molorewards.com
Officer One: Robert Sprogis - CEO & Founder
Officer Two: Peter Sprogis - Co-founder