The startup browser extension that rewards its users for purchases with Bitcoin, Lolli now supports 900 retail locations.
News surfaced at the end of last week when the firm started to expand beyond the internet and its 750 online merchants to include real-life retail locations. It was announced recently that the first major partnership was to be Albertson’s subsidiary, Safeway.
Highlight: "Right now, we're trying to make bitcoin accessible to everybody," @trylolli CEO @alexadelman says. "And so we're trying to make Bitcoin part of everyone's daily life. ... We're bringing this whole new wave of users into bitcoin already." Full interview: pic.twitter.com/Sza0YG9GbE— Yahoo Finance (@YahooFinance) July 25, 2019
Lolli previously closed a $2.25 million seed round from some big-time investors such as the Digital Currency Group and Bain Capital Ventures.
As a little background on Lolli, the firm was founded in 2018 with Alex Adelman as its CEO. on its website, the company states its mission to be:
“We believe that bitcoin is the future, however, bitcoin in its current state is not easily accessible. Our mission is to change this with Lolli, making it easy for everyone to earn, save, and share bitcoin.
We see online shopping as an incredible opportunity to both educate and reward people with the power of bitcoin.
We want to live in a world where every payment is as fast, inexpensive, and universal as sending a text message. We are on a mission to spread bitcoin to billions of people all around the world with the click of a button.”
Adelman recently said that the average Lolli user has earnt around $26 in Bitcoin via 3-5 percent returns on purchases. On top of this, around 40 percent of Lolli users are completely new to cryptocurrency with 30 percent being female.
Speaking in an interview with CoinDesk, the CEO said, “We saw a demand from users to earn bitcoin for everyday expenses like food and pharmacy.”