Restaurant app MOGL raises $10M
January 31, 2012 | Hotel Marketing
MOGL’s product is a bit complicated to understand, but here’s why VCs thought the startup deserved the $10 million: The app combines competition, cash-back incentives and prizes, and social good elements - the ultimate hook for the overprivileged.
MOGL automatically donates a meal to a person in need each time a MOGL user spends $20 through the app at a partner restaurant. So far, the company says more than 27,000 meals have been donated and more than $350,000 cash-back rewards earned by its users.
The app tracks credit and debit card transactions; users pay any restaurant bill with a MOGL-tracked card; and the rewards (and donations) get tallied. The app can also find nearby participating restaurants. For restaurants that partner with MOGL, the startup also offers data on their customers and ROI.
The San Diego-based company launched in April 2011 and has partnered with nearly 350 SoCal restaurants so far.
Get the full story at VentureBeat
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