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by SteliE 5584 days ago
Steli here from SwipeGood! On average our users donate over $20 per month to charity and stay enrolled for a very long time...so this move is a win/win/win. It's great for our users to be able to instantly give away money for charity ; great for our partner charities who receive the donations and good for SwipeGood since it makes economic sense for us :)

Cheers, Steli
2 comments
spencerfry 5584 days ago
That doesn't really answer reynolds' question at all.

How is this better than spending $150k on hiring, for example, 2 engineers for a year? Or 1 engineer and 1 designer? Or 1 customer service person, 1 community manager, and 1 developer? Etc.

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SteliE 5584 days ago
Our investors are really happy with us... we are in fact hiring engineers & designers right now as we speak. And this money is accelerating our growth today. Believe me when I tell you that if you can acquire new users for less money than they generate you revenue your investors will be happy to see you invest money this way! Let me know if this answers the question :) Thx, Steli
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ulugbek 5584 days ago
It is better if NGOs are promoting the service to their existing and potential donors. It is possible that revenue from giving away $150,000 with a buzz brings in more users than 2 engineers can.
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reynolds 5584 days ago
That makes sense. At least you guys are using it to get user referrals rather than throwing it in a wheel barrow and burning it :)
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SteliE 5584 days ago
Every user can invite up to 100 people who each get $10 if they sign up (thats a max of $1000 for 100 users). Hope that clarifies it a bit :)
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spencerfry 5584 days ago
Even PayPal with millions in funding only gave away $5/referral. $150,000 there brings you 30,000 users, but "SwipeGood is giving every user who enrolls on the service $1000 that they can give away to charity." That's 150 users or am I missing something?
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reynolds 5584 days ago
It looks like $10/referral up to 100 referrals. If they make $20/user/mo this is a no brainer.
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russell_h 5584 days ago
I think they only get 5% of that $20/user/month. That being said, here are two options for how to use $150,000:

1. Hire an engineer for a year

2. Sign up 15,000 users and generate $15,000/month in revenue. Hire an engineer permanently and net an extra $30,000/year in profit.

I know which I'd choose.

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