ATLANTA May 23, 2012 $2 million
Socialvest is a free online service that allows users to shop, earn and give to the causes they care about. Socialvest offers consumers the opportunity to shop at hundreds of big brand national stores. Users earn money through these purchases that can then be donated to the nonprofit(s) of their choice via the Socialvest website, giving them the power to turn everyday shopping into extraordinary change.
The funding will be used to help the company continue to expand its product offerings and channel mix, including an upcoming iPhone application, leading to greater capabilities for Socialvest members to shop, earn and give.
Edelman’s Good Purpose Report found that 86 percent of consumers believe companies need to place at least equal weight on society’s interests as on business’ interests. Another study noted that 83 percent of consumers would be willing to modify their purchasing habits to make the world a better place.
In 2010, Socialvest responded to this message by empowering consumers to shop and earn with leading retailers. The company extended its capabilities in 2011 with an optimized mobile website and the introduction of browser applications that allow users to shop and earn without having to go directly through the website. 2012 will see further innovation with the debut of an iPhone application giving cause-conscious shoppers the ability to purchase and give back with just a tap on their phone.
the United States
www.Socialvest.us Adam Ross