In one sentence, what do you do? (i.e. your elevator pitch)
TrialPay's payment and promotions platform uses the efficiencies of the Web to pair online shoppers with ideal offers at every stage of the purchase process.
What problem do you solve for and for whom?
TrialPay introduces e-commerce solutions that increase conversion rates and boost order values for any online seller. With TrialPay, everyone wins: online stores make more sales from their current traffic, advertisers acquire new customers on a pay-for-performance basis and shoppers get a free product with every purchase.
What makes you different than anyone else in this space?
TrialPay is the inventor of the Get It Free payment method and an innovator in the transactional advertising space.
TrialPay was born out of the idea that online stores should be able to do everything done in retail stores-only better. Lower overhead costs, higher profit margins, promotional messaging, renewal revenue and sophisticated retention techniques were just the beginning of the "virtual" advantage. Building on these advantages, TrialPay's founders recognized the potential of advertising throughout the online consumer transaction process.
TrialPay invented the Get It Free payment model, giving shoppers thousands of ways to get their purchases for free by completing an offer from one of their favorite brands. After boosting sales for thousands of online merchants, TrialPay's founders realized that by using the efficiencies of the Web, they could pair online shoppers with ideal offers at every stage of the purchase process-revolutionizing the concept of transactional advertising.
What was the feedback received from your last investor or client discussion?
We just conducted a survey in our Sept. newsletter soliciting customer feedback on the TrialPay platform. Here is what a few of our customers had to say:
"We use TrialPay to make money in areas/markets that Corel would never reach. For example, we make money when someone applies for a credit card!" Marco Zanon, Corel Corporation
"I would say that it's a brilliant solution when you want to monetize lost traffic or those customers who would otherwise not pay for (or upgrade to) your product/service. I also would tell them that they are constantly innovating new e commerce strategies/services to assist companies (like ours), who need special platforms to take advantage of international traffic."
Rick Trefzger, iS3
"Using TrialPay is a no-brainer. TrialPay provides freemium and trial-based marketers multiple ways to reduce effective acquisition costs and monetize traffic six ways from Sunday." Allen Nieman, Xeriton Corp
"It's free money. I kick myself for not having implemented it sooner."
Russell Samuels, Ventis Media
Provide 50 words or less that would get someone like Warren Buffet to listen your pitch.
The "Get It Free" Payment Method
It's not an oxymoron: customers get their purchases for free and online stores get paid. In the current economic climate, the "Get It Free" payment method has monetized millions of customers by letting customers pay for one product by trying or buying something else they already wanted.
What is the one word that most of the people you talk to about your product or service use to describe it?
Why are you "what's next" in payments?
The e-commerce industry earns $600 billion each year. More than $1 million is processed each minute, but 70% of all orders end in abandonment-leaving hundreds of billions of dollars on the table. TrialPay creates new revenue opportunities by enabling online stores to target price-sensitive customers with compelling payment and promotion options.
While brick-and-mortar stores are limited to selling what's on their shelves, there's no reason for online stores to be restricted to selling their own wares. Online stores can reach into cyberspace and sell anything-the key is discovering which customers will pay for which products. TrialPay's optimization engine turns non-paying customers at one site into paying customers for another company, driving significant new revenue for all parties.
The idea for TrialPay stems from TrialPay CEO and co-founder Alex Rampell's previous experience selling software. Rampell's company ran into the same problem that every software company encounters: low conversions from site traffic and downloads. At this time, Netflix was in its infancy and trying to grow its customer base. Netflix offered affiliates a $20 "referral fee" for signing up new customers, which coincidentally matched the price of Rampell's software. To increase conversions, Rampell tried giving customers his software for free when they signed up for Netflix. Sales more than doubled, and the idea for TrialPay was born. The essence of this model is that many companies' customer acquisition costs exceed the actual cost of another company's product.
TrialPay's Get It Free model gives shoppers thousands of ways to get their purchases for free by completing an offer from their favorite brands. After boosting sales for thousands of online stores, Rampell realized that by using the efficiencies of the Web, he could pair online shoppers with targeted offers at every stage of the purchase process-revolutionizing the way people pay online.
General Company Information
Alex Rampell (CEO) - Prior to TrialPay, Alex co-founded FraudEliminator, the first consumer anti-phishing company, which merged into SiteAdvisor and was acquired by McAfee in April 2006. Alex began his career writing and selling consumer software on bulletin board systems and the nascent Internet. He holds an AB in Applied Math and Computer Science, cum laude, from Harvard University.
Terry Angelos (Chief Product Officer) - Terry served as the Director of Products for Living.com, a Benchmark Capital and Amazon.com-funded online retailer. Previously, Terry was a product manager at Trilogy Software, where he was responsible for e-commerce solutions for the Fortune 50. Terry has also worked as an engineer for Siemens and an investment analyst for Goldman Sachs. He holds a BS in Electrical Engineering from WITS University, an SM in Engineering Science from Harvard University and an MBA from MIT Sloan.
Eddie Lim (CTO) - Before joining TrialPay, Eddie worked in product design at Facebook, helping establish and implement various growth strategies. Previously, he was a co-founder and CTO of Yub.com (formerly Metails.com)-a pioneering online shopping mall that combined social networking with an innovative shopper rewards program. Metails was acquired by Buy.com in September 2004. Eddie holds an AB in Computer Science, magna cum laude, from Harvard University.
Other Key Executives:
AJ Shanley (COO) - Previously served as a Director at Symantec Corporation
Daniel Greenberg (CMO) - Formerly the CEO for Kinfo, CMO for Tumbleweed (NASDAQ: TMWD) and VP Product Management & Marketing for Macrovision (NASDAQ: MVSN) and ACNielsen (NYSE: ART).
Clint Smith (VP and General Counsel) - Served as general counsel and corporate secretary for MySQL AB and has also headed the legal departments at Macromedia, Inc. and UUNET Technologies, Inc.
Number of Employees
Where we can find you online?
Site - www.trialpay.com
Blog - blog.trialpay.com
Contact e-mail - firstname.lastname@example.org, email@example.com