|By Marketwired .||
|November 20, 2012 09:00 AM EST||
SAN MATEO, CA -- (Marketwire) -- 11/20/12 -- Make room in the sleigh, Santa -- even more gifts are coming to town this holiday season as the world's first and only provider of consumer gift incentives, FreeMonee Network, celebrates its first year of delivering irresistible gifts of money to consumers with Gift Tuesday! Today also marks the day FreeMonee will alert shoppers to the gifts that national retailers, from Godiva to Williams-Sonoma, will deliver in time for Black Friday.
"Everyone loves gifts! The giving and receiving of the holiday season is part of its magic -- and we've helped retailers harness that magic in a precise, scientific, revenue-generating way," said Gadi Maier, CEO, president and co-founder of FreeMonee. "This year, partners are putting even more money toward gifting for new and returning shoppers, and that is good news for them, because they will see an average return on ad spend of 1,177%. For every dollar invested, $11.77 is made in revenue."
Across the country, national retailers and restaurants are getting in on the gift incentive action. Since its launch, FreeMonee has grown from delivering gifts in five categories to more than 30 categories -- from restaurants and cafes like Buca di Beppo and Caribou Coffee, and retailers like OshKosh B'gosh and Williams-Sonoma, to specialty brands, including Godiva and One Kings Lane.
This Black Friday, FreeMonee expects to deliver 32 times more gifts than it did last year. Individual FreeMonee Gifts from retailers will range from $5-$50 per shopper and are delivered directly to shoppers' debit or credit cards.
To keep up with consumer demand, FreeMonee is also broadening its current cardholder base, launching new programs with two more of the top 10 issuers in early 2013, allowing more shoppers access to FreeMonee Gifts.
FreeMonee is changing the economics of advertising by enabling stores and restaurants to attract Customers On-Demand using FreeMonee Gifts. With its unique new consumer incentive, FreeMonee delivers gifts of money directly to cardholders of the largest financial institutions. Customized to precisely match consumer interest, gifts allow consumers to purchase anything they want at designated stores or restaurants -- no strings attached. The gifts are made possible by FreeMonee's proprietary Gift Underwriting Engine, which accurately determines the right gift to ensure the highest level of consumer interest and the best return on ad spend for a merchant. Unlike traditional coupons or offers, FreeMonee Gifts feel like a gift card from a friend -- money to spend at places consumers like. For retail marketers, FreeMonee Gifts enable brands to attract large volumes of profitable, incremental customer visits -- without discounting. For banks and credit card companies, FreeMonee provides the opportunity to positively engage customers and strengthen loyalty.
Founded in 2009 and located in San Mateo, California, FreeMonee is led by former executives of Google, Visa, Oracle, Cisco, Procter & Gamble and Coca-Cola. To date, FreeMonee has raised $45 million in funding with investments from Charles E. Ryan, Opus Capital Ventures, Redpoint Ventures and Sutter Hill Ventures, among others. Through continued partnerships with the top U.S. financial institutions, the company expects 50 million households to have access to FreeMonee Gifts in 2012. For more information, please visit www.freemonee.com.
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