Looking for a way to travel smarter and cheaper? That’s where RewardStock comes in. This innovative company was founded by a frequent traveler who saw an opportunity to help others maximize their reward points and travel more affordably.
It all started on Shark Tank, where the founders pitched their idea to the sharks and landed a deal. But what happened to RewardStock after the show? Keep reading to find out.
Reward Stock app that helps travelers to track and earn points with features like:
- The app has an algorithm powered to awards flight search results
- Helps fully in terms of guidance of strategic rewards earning
- Seek advice from the expert at a fee of $10
- Plans are in place to earn reward points quickly and easily.
Reward Stock at a glance:
| BUSINESS Idea | It is a traveler reward app |
| Founder | Jon Hayes |
| ASKED FOR | $200,000 For 5% |
| ACCEPTED OFFER | $320,000 For 10% + 1% Advisory Shares |
| SHARK | Mark Cuban |
| BUSINESS STATUS | Acquired |
Index:
Who is the owner of Reward Stock?
Jonathan Hayes or as he is called Jon Hayes spent a lot of his childhood in Raleigh NC and completed his education degree at the North Carolina School of Science and Math. After that, he pursued a career on wall street as an investment banker.
Investment bankers and the future CEO of Rewardstock used to go a lot on business trips. He didn’t know about the privileges given to users of flight reward points. Only when he traveled to South Africa with his brother did he realize its importance. He believed he saved miles of travel and earned many rewards and points.
This trip was the changing point of the idea to develop the app so that travelers could benefit from reward programs on offer.
Did Reward Stock get a deal on Shark Tank?
The CEO of Rewardstock entered the shark tank seeking an investment of $200,000 for a 5% share in the equity of Rewardstock.
He explained how the product worked and how he came up with an innovative idea. Next, the shark, was in for a surprise, as they were given a Hawaii-style welcome with Hawaii girls and a flame thrower who performed on stage.
Now started the part you have been waiting for, the first one to go out was the guest shark, next was Lori, and finally Barbara. But Kevin and Mark both were interested in a deal.
Kevin mentions about his shark tank deal with honey fun and how they operate. Jon replies “Yes”, and Kevin then tells him about the fact that he cannot do a deal if the equity is not raised to 10%.
He offers Jon an investment of $200,000 for 10%. Jon says “I would like to get Mark’s view on it”. Mark states “The equity needs to be raised by 5% equating it to 10%”. He offers Jonathan an investment of $320,000 for 10% equity and an additional 1% on advisory shares.
Jonathan accepts the deal immediately.
What happened to Reward Stock after the shark tank?
Reward Stock is currently not functioning directly as the company got acquired by Experian at an undisclosed amount in a full-cash deal. This app and website redirect to the Experian website. Investors like CoFounders Capital invested a total of $590,000 in Reward Stock, beginning with $350,000 in 2015, and got a great exit from this deal.
RewardStock was acquired in a 100% cash deal, although the exact financial details were not revealed. CoFounders Capital invested a total of $590,000 in the company and founder Jason Gardner confirmed that the sale delivered a solid return to investors and employees, although it was not a huge sale.
Product:
To use the product the user has to do four simple steps:
- Download the app
- Create a profile with the required no. reward points
- Search the destination to travel
- Wait for the processing
Now you’re ready to go on your next adventure!!. The pros and cons of the app are as follows:
Pros:
- Nice, user-friendly interface.
- No bank details are required of any kind.
Cons :
- Available to use only initial 35 points as a start and 30 destinations.
- Gives no information on hotel rewards.
- Uses Automated systems that don’t account for actual knowledge/phone calls.
- Adds recommendations, without enough information.
How much is RewardStock worth?
- The user doesn’t need to worry about how the app works, as it does all the points calculation and money applicable by itself on the background.
- Membership fee of $29.
- Made a revenue of $ 50,000 in the first 2 years of the app’s development.
- Earn a referral fee of $5 from each customer.
Is Reward Stock still in business?
Investors of Reward stock got a good exit like CoFounders Capital invested a total of $590,000 in Reward Stock, beginning with $350,000 in 2015. Currently, Rewardstock is acquired by Experian in a full-cash deal.
RewardStock was acquired in a 100% cash deal, although the exact financial details were not revealed. CoFounders Capital invested a total of $590,000 in the company and founder Jason Gardner confirmed that the sale delivered a solid return to investors and employees, although it was not a huge sale.
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What is Reward Stock?
Reward Stock id travel Rewards App That Helps Users Redeem Air Miles And Hotel Travel Points.
Who is the owner of Reward Stock?
Jonathan Hayes or as he is called Jon Hayes spent a lot of his childhood in Raleigh NC and completed his education degree in North Carolina School of Science and Math. After that, he pursued a career in wall street as an investment banker.