Recognizing the power of social and the power of the individual’s recommendation, the Dosh team and I worked to create an app designed to change the way people think about shopping without requiring them to actually do anything different while they shop.
The Dosh app puts money back into the pockets of consumers and businesses alike using breakthrough technology to eliminate the wasted spend from advertising and most transactions. Dosh searches for cash and chases it down – relentlessly searching out offers to give cash back to users. No cutting coupons, no scanning receipts, no searching for offers. Dosh users simply spend as they normally would and watch the cash pile up. But it doesn’t stop with revolutionizing shopping rewards. Dosh also gets users the best possible deal on hotel bookings and car rentals while still giving substantial cash back to travelers. Work, shop, travel, play, and we’ll find you cash. Dosh puts the typical profit that hotels and online travel sites make back in the pockets of Dosh users.
And Dosh isn’t just sweetening the deal for consumers. Dosh provides merchants with more effective marketing, intelligent data, analytics and customer insights, and reduces waste in advertising dollars. This helps significantly increase customer loyalty by delighting customers with cash back they weren’t expecting.
The Dosh Mission
Dosh is on a mission to positively impact millions of people’s lives financially by putting extra cash in their pockets so they can spend it on what matters most to them. Dosh aims to help people get more out of every dollar they spend. Behind every decision and development is our desire to revolutionize commerce by adding more value for the buyer and seller. Every day, Dosh is working hard to disrupt industries where money is wasted or middlemen take too big a cut. We’ve assembled a team of executives that have successful start-up experience and over $1.7B in exits. These team members come from the technology, telecom, and payments industries with extensive experience at various companies including Motricity, First Data, Affinity, Capital One, T-Mobile, American Express, AT&T, Bain, MCI, Bank of America, and Amazon.
In September of 2012, after months of preparation and hard work, the Solavei team and I launched Solavei to our members. What was once just an idea, a dream, an aspiration — was suddenly a reality.
At Solavei, our goal was to make commerce less expensive and even profitable by giving our members a great opportunity to save on the products and services they use every day, and also be rewarded when they refer Solavei to the people they know. Solavei was able to do this because instead of spending millions of dollars on billboards and TV commercials, we choose to spend that money on the most powerful advertising force on the planet – people! We saw the power of the personal recommendation and developed a system to reward our members when they shared it with their friends and family.
While Solavei was shut down in late 2015 after it lost its mobile service contract with T-Mobile, I am proud to have watched it grow rapidly in over the years. In just three years, over 400,000 people signed up for mobile service from Solavei and the company did over $140 million in revenue, but more importantly through Solavei we were able to pay members over $40 million dollars for being the advertising voice of the company.
During that time, Solavei was named a top 100 technology company in North America by Red Herring magazine. Now, even though the company itself does not exist, much of the innovative technology is actively being used to by other companies to positively impact people’s lives.
Motricity and I parted ways in the summer of 2011 but I’m extremely proud of the company and its employees and all we achieved together. I had an idea in early 2001 to create a global leader in mobile data solutions and services and it became Motricity. Over the past decade, we built an enterprise with more than $100 million in revenue and a market value that exceeded $1 billion.
We had many goals along the way, such as:
- Creating industry-leading technology that would enable the largest mobile operators to deliver mobile data and content.
- Providing employment to hundreds of extremely talented employees.
- Taking the company through each stage of growth, including the capital markets.
- Delivering a strong return for our investors and creating a company with a value greater than a billion dollars.
I’m proud to say that we achieved each of those goals and I’m proud of what Motricity accomplished under my watch. I founded Motricity and spent nearly a decade building it into a business that was valued at more than $1 billion.