Last week, the travel rewards start-up sold 400,000 shares (4% of company) to support in funding its Launch Program. In 2018, its first year in business, the company saw $102K in revenue, and is projecting in excess of $2M for 2019. The company is seeking an additional $1M, which will support its upcoming launch as well as expansion plans for 2020.
“We’ve structured a deal for our investors to see a rapid return, minimizing their risk, while allowing them the benefit of succeeding with us long term,” said President, Shaun Kennard.
With its official launch scheduled to start late August 2019, the start-up recruited customer acquisition specialist, Jeff Rogers, to design and implement a six week program heavily rewarding the company’s current and new Travelers for spreading the word. Having generated in excess of $60M with his own company, and being CEO of several successful direct sales companies, Jeff has extensive experience in customer acquisition, growth and loyalty reward programs.
“I’ve used this type of acquisition model twice. Each campaign ran approximately 8 weeks, acquiring a combined 400Kusers, generating over $10M in initial and recurring revenue. With the lure of travel, I expect AirGo to see similar, if not better results,” said Rogers.
The most exciting piece about the Launch Program is the viral influencer reward element. AirGo continues with the idea that travelers who are a part of the program early, and are key in its growth, should be rewarded. After this infusion of cash, AirGo Miles™ is looking forward to a quick increase in Travelers and revenue. During that time, the company will continue to board over 6,000 partner merchants including Bloomingdale’s, NastyGal, Best Buy, and Finish Line.
