Enabling Technologies

Y-Combinator backed Referly Rewards you for Sharing Links, Raised $1 Mn

Referly is an Online Referral System for Your Social Network. Referly says that it tracks the links that users share, and rewards them for their friends’ actions. When a user shares his favorite products and services, he begins to build a reputation as the “go-to guru” for the things he or she loves, and get obtains for generating purchases.

Referly was founded in April 2012 and is based in San Francisco, USA. The company has received a total funding of $1 Mn through investors Y Combinator500 StartupsIgnition PartnersCarter RabasaMatt MonahanUllas NaikEileen BurbidgeDamien TannerMichael LiouElliot Loh and New Enterprise Associates. In 2013, Referly acquired Launchgram - a service that kept people up to date on upcoming releases.

This gives you an overview of their platform:

Some Numbers from their website:

  • In May 2012 Referly launched a digital catalogue where people could recommend products and earn rewards for selling them through their platform.
  • In 10 months 14,681 users made 24,891 collections listing 136,000 products.
  • These collections received 1,213,394 pageviews from 372,195 unique visitors who clicked 3,356,379 times and bought $462,291.91 of merchandise.
  • Total affiliate commissions: $33,883.38.

It also says on their website that "refer.ly (is switching gears)" and "We'll be announcing our new direction soon. Until then, please enjoy the most popular collections and articles from our community."

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Chiraag Patel

Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading& Blogging with focus on New Innovation, Technology & Startups in the Payments Space.

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