New Social Startup Aims To Please With Cash

There are no shortage of social marketplaces—where users are rewarded for successfully influencing others into purchasing products—but stealth launched Favr.tt  has two new ideas going for it. 
 
Like rival services Shopa, Shopcade and Nuji the London-based social marketplace matches people to products and rewards users who click on affiliate links or motivate others to do so. But, instead of the desktop experience, Favr.tt is out to appeal to the mobile user accessing the service through his or her Android or iOS app. 
 
And Favr.tt doesn’t pay in store credit or cash back credit cards—instead users have cash sent directly to their PayPal account whenever they make a purchase, or whenever someone who follows their social shopping links makes a purchase.
 
With a novel idea, and a new CEO, Favr.tt is set to make a funding and expansion push, with an eye toward the U.S. market presently.
 
Inmaculada Martinez is the new CEO.  Martinez has works with Goldman Sachs and Nokia, she has also recently brought VC-backed start-ups like Escape Velocity and Jutel Visual Radio Oulu to exit. 
 
”If you are Skimlinks your clients are big publisher sites, but for us our client is Facebook and Twitter,” Martinez told Tech Crunch. “This is where our users publish the opportunities, as we are 100% user generated content.”
 
What remains to be seen, is if its users can generate the kind of content that gets social media users to spend less time socializing, and more time spending. 

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.