Start-Up Mania!? WeReward

I don’t know why, maybe it’s because summer is breathing down our necks, but digital start-ups are popping up like crazy. I did a lot of reading this morning. One of my first stops is TechCrunch.

TechCrunch recently hosted their well-known event TechCrunch Disrupt 2010. Actually, it’s going on right now, it started the 24th ends today. TechCrunch Disrupt prides themselves in being the only conference where web innovators AND executives looking for innovative change, come together. The conference consists of  seminars in the morning and product/software launches in the afternoon.  (If I went TechCrunch Disrupt would probably wind up in my Top 5 Most Awesome Days…sadly I do not create web software and am not an executive investor…damn) Thousands of “emerging companies” from all over the world apply, though only the elite are selected to present what ‘they’ve got’ at the conference. What makes TechCrunch Disrupt so neat, is that right before the three day event ends, TechCrunch announces to one lucky start-up that they’ve won $50,000 in  support of their “vision”. We should know who this years winner is by the end of the day or tomorrow morning.

Anyway, so I was reading and I stumbled upon an article of theirs highlighting their second-round finalists of start-up entrants. One of them peaked my interest…

WeReward

“WeReward, a mobile incentive platform that pays cash to consumers for actions they take in the real world, enables consumers to discover local businesses and earn rewards for their patronage.” (WeReward; About)

Basically, WeReward is a hybrid mixture of Facebook, Twitter & FourSquare. Users will check into their locations to earn things like badges & extra coupons (Foursqurare) and can create statuses/share information from WeReward to their social media platforms (Facebook & Twitter).

What makes WeReward unique is that every time you check into a location you earn points, which you will eventually rack up and then hopefully make some money (actual, tangible, real money, not some variety of digital Monopoly dollars).  So, every time you check in to a location you can feel validated knowing that even though someone stole all of your stuff because they saw on WeReward that you were at the movies, you’ll have some well earned, hardly worked for cash to refurnish your place.  (Mashable article on pleaserobme.com)

The other smart idea is  that you must validate your location with a photo.  That interests me, because I was wondering the other day how FourSquare knows if you’re lying or not…or if they could even tell. Couldn’t I just sit on my phone all day and check-in to the Starbucks in my town until I become “Mayor”? I’ve never looked into it can somebody get back to me on that? Thanks.

Also, WeReward is opening their doors to advertisers; it’s practically begging for them to come over. I’m sure they will, “WeReward only charges advertisers for customers who actually make purchases at their locations, which are verified through a process using photos submitted by the consumer, GPS data and manual reviews.”

Not having to pay for things until they work seems like a good deal to me. WeReward also lets their advertisers be in complete control of their own budgets. “Advertisers… can adjust their campaign spending at any time. There are no set-up fees or minimum commitments; advertisers decide how many customers they would like to reach each month and what they are willing to pay per customer.”

I’m excited to see what will come of this.  This will definitely provide a new form of  ‘social media marketing’. Who will flourish first, the big brand name or the local business?

Add US!

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