Rewards-Based Shopping App
Sharebert is a mobile app for shopping that pays users to browse, purchase, and share products from more than 100,000 brands.
The company has deals with hundreds of top retailers, including Amazon, Walmart, Disney, BestBuy, and Microsoft.
In addition, its partnered with social media star Wayne Reilly, who has more than 250 million "followers."
The platform uses a points-based system to reward users for sharing products with other users. In addition, users can earn loyalty points just by spending time shopping on Sharebert. Those points can be redeemed for gift cards and other prizes.
With its mobile app, Sharebert is targeting the rapidly expanding mobile shopping market.
Over the past four years, mobile shopping has become a $156 billion industry. According to Market Mogul, a website featuring business and financial news, the industry will reach $337 billion by 2020.
The massive market size is because of a shift in how consumers shop. For example, in a recent study conducted by Target, 98% of customers reported that they shop online, and 75% say they start their search for products using a mobile device.
In addition, 75% of shoppers aged 22 to 37 (known as “Millenials”), and 90% of shoppers aged 11 to 21 (known as “Gen-Z”), prefer to shop online.
As a result of these trends, M&A activity within the mobile shopping market has increased — for example:
Ebates, an e-commerce platform where shoppers earn cash back in exchange for purchases, was acquired by Japanese electronics company Rakuten for $1 billion…
And another e-commerce platform called Wish recently received an acquisition offer from Amazon for $10 billion.
Sharebert is free for users. Shoppers simply search for a specific product or brand, then scroll through the results to find items they’re looking for.
If they like something, they can make a note and save it to a separate list. And if they digitally “share” an item with friends, they earn points that can be redeemed for prizes.
All purchases in the app are made directly through the retailer that sells the product — meaning if something is sold by Amazon, users can use their Amazon Prime account and earn additional rewards.
In exchange, Sharebert earns a commission from retailers on each sale.
The average commission for each sale is $1.50, and customers spend an average of $50 per purchase on the app.
In addition to earning commissions, Sharebert earns revenue from companies who advertise free trial offers. Users can take advantage of offers for platforms like HBO, Showtime, and eHarmony.
In the future, Sharebert will charge boutique brands a fee to advertise their products on the app.
Sharebert launched in Apple's App Store and the Google Play Store in April 2018.
In its first month, the app has been downloaded more than 5,000 times, and more than 100 transactions have been completed.
By the end of 2018, Sharebert aims to have 200,000 new users. The company is projecting to generate $9 million in revenue in 2020, and $14 million in 2021.
Before starting Sharebert, Ali served as Co-Founder and Managing Partner of Ediroc, a company that produces professional boxing gloves.
While there, he was in charge of product design, marketing, and company branding initiatives. He designed gloves and training equipment for some of the world's top boxers, including Floyd Mayweather.
Along with his relative Emon, Ali formerly founded Mahvan&Co, an online marketing company focused on helping small- and medium-sized businesses. Mahvan&Co. was acquired Kollins Communications.
For two years, Ali served as Brand Manager for GH3 Promotions, a sports media company.
In addition, he formerly served in the Operations department at Walt Disney World.
Ali studied Business Finance at Bergen College.
Prior to starting Sharebert, Emon served as the Business Operations Manager for Ediroc. While there, he handled logistics and vendor negotiations for the company’s boxing products.
In addition, he formerly served as Operations Manager for Mahvan&Co.
Emon earned a Bachelor’s degree in Philosophy from Felician University.
Aaron was formerly a web developer for Mahvan&Co, an online marketing company.
Prior to that, he served as an administrative assistant with McKay Hochman, a consulting company.
Aaron earned an Associate’s degree in Applied Sciences from County College of Morris.