Drop (loyalty program)
|Type of business||Private|
|Founded||August 25, 2015|
|Created by||Derrick Fung, Darren Fung, Cameron Dearsley, Akhil Gupta|
|Native client(s) on||iOS and Android|
Drop is a coalition customer loyalty program, in which users earn points using their linked debit or credit cards. Users choose five rewards partners such as Sephora, Starbucks, Uber, and Whole Foods Market to earn points with. Drop is a Toronto-based company which was founded by Derrick Fung, Darren Fung, Cameron Dearsley, and Akhil Gupta in August 2015. The program started in the Canadian market during August 2015 and expanded into the American market during October 2017, after a six-month private beta. The Drop Rewards program requires that users download a companion app on an iOS or Android device. According to Drop, the service was designed as a way for brands to earn exposure with millennials.
In August 2015, Drop raised a CA$1 million round of initial financing for launching the app.
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