Cardlytics was ahead of the curve in 2008 when they pounced on the opportunity to help advertisers use bank purchasing data to target consumers. Advertisers fund the program, and Cardlytics shares the revenue with the banks. This is big money folks. Cardlytics expects to pay larger banks millions in 2015.
Cardlytics now integrates with nearly 400+ banks (representing 70% of US households), making their first product profitable this quarter. This market share, combined with the $70 million they recently raised, sets them up for an epic 2015.
How it works
Consumers get rewards from their bank via mobile and online bank applications. The consumer captures the reward by paying with a debit or credit card, and the cash back reward is automatically deposited into their bank account. Card-Linked Marketing (CLM) is also simple for the retailers and restaurants who advertise on the Cardlytics advertising platform. There’s no change to guest service, no new systems and no training.
Cardlytics is currently located on Krog Street, but has plans to move to Ponce City Market. This new location will give them more space to grow and enable them to seduce the young, brilliant talent that such a creative space is sure to attract. “People are looking at intown Atlanta as a strong option for tech companies to come back from the suburbs,” said John Brown, president of US operations.
Choosing Atlanta for the company headquarters was a no brainer for the founders. Brown shared that Cardlytics’ “two founders were really interested in Austin or Atlanta as cities with the infrastructure they wanted,” adding that “the airport makes a big difference because we work with so many large financial institutions,” and that Atlanta “is the hub for financial technology companies.”
More on John Brown
Brown left corporate America to join Cardlytics in 2010. He was persuaded to join the company after falling in love with the simplicity of the idea. “I literally jump out of bed and run into work every morning,” Brown shared.
Brown stays abreast of his industry by reading an assortment of publications including: NY Times, Wall Street Journal, Washington Post, American Banker and Atlanta Biz Chronicle.
Brown, who previously served in the Navy, uses some of his military experience to maintain a positive outlook. “If anything bad ever happens, I think ‘Any day that begins with a hot shower is probably going to be OK.’ ” Hot showers aside, both Brown and the rest of the Cardlytics team are big advocates of hiring veterans. Veterans have shown a track record of excelling in the company, which Brown credits to their entrepreneurial spirit.
Veterans & local tech talent take note that they are hiring for multiple positions.