Online rewards scheme offers weekly jackpots
A new internet-based discount rewards programme called 'Jackpot Rewards' has been launched to offer consumers special offers, cash back rewards, and discount offers on online purchases.
Members are automatically entered into three prize draws each week for Jackpots of over US$100 million, plus a US$1 million prize draw every Sunday.
Online shopping rewards Jackpot Rewards is essentially a membership-based online shopping rewards programme, with benefits including 'Jackpot Shopping', which provides cash back on more than 20 million items at over 550 popular e-retailers (including Apple, Barnes & Noble, Best Buy, Land's End and Target), as well as savings of up to 50% on a 'Deal of the Day', and other discount offers.
Members can also list up to 10 classified ads of their own that receive priority placement at the top of every search result from more than 8 million listings from across the web.
Benefits for children too The programme is also aimed at consumers with charitable ambitions, as it donates 50% of its profits to children's charities.
According to company founder and CEO, Jim Miller, "Jackpot Rewards offers members the opportunity to change their lives for the better in thousands of small but meaningful ways - or even all at once in a single lucky moment. We believe that the desire to be wealthy is driven in large part by a fundamental desire to give back, and to be part of something that's bigger than ourselves."
Investment backing Backed by a number of US business leaders and philanthropists, Jackpot Rewards raised US$16.7 million in its series A financing round, with investors including Jack Connors (former chairman of advertising agency Hill), Holliday, Connors, Cosmopulos Inc.; Chuck Clough (CEO for Clough Capital Partners), Tom McDonnell (CEO for DST Systems), and legendary investor Peter Lynch.
The company's donations are directed to charities that are dedicated to improving the health, well-being, and educational opportunities of children across America and around the world. The programme is to make its first US$1 million charitable donation during 2008. Founder Jim Miller has pledged to make this donation on behalf of the company as a way to demonstrate the company's dedication to these causes.