Lootsie, a startup that allows advertisers target mobile-only rewards to users, announced today that it has hired its first chief operating officer, Steve Cho. Cho is a veteran of sales at IBM and comes to Lootsie via Kiip where he was the VP of business development. Kiip and Lootsie are essentially direct competitors.
Cho’s choice to jump over to Lootsie stems from a fundamentally different view of rewards. Lootsie users can save their points and then spend them on the reward of their choice, rather than giving them. That might sound like a minor distinction, but Cho repeatedly touted “the power of choice” that the platform offers, and he noted that this means advertisers are rewarding the users who are most interested in them.
A two year old venture, Cho is now looking to expand the 18 person firm and “look at the biz ops side of things and just scale that bad boy,” reports Tech Crunch.
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