Recoup launches first cause shopping channel
Technology entrepreneur by day, neighborhood volunteer by night, Georgetowner Luca Pivato dreamed up the idea behind Recoup while trying to invent creative ways to offer online service to community-based organizations looking to raise funds.
“Buy what you like, save what you want, support what you love, all with a single click.”
“Our vision is to make Recoup the hub in a new horizontal marketplace. It’s a new and easy way for businesses to support good causes and connect with people at a personal level,” says Recoup CEO and co-founder, Pivato.
Recoup has already forged relationships with over 60 national and local non-profits capable of reaching five million supporters, along with businesses united by the desire to connect with new customers in meaningful ways. A promotion can be simultaneously paired with different organizations in different states. Recoup tells its subscribers and its nonprofit partners about the promotion.
Businesses empower their customers to purchase a promotion on a product or service, make a tax-deductible contribution by donating part (or all) of the savings to a charity of choice, and have their donations matched by a sponsor—all in one transaction.
“Some retailers already offer consumers the opportunity to buy items that support good causes. But what if the cause selected by the business is not personally relevant to consumers? Would the business gain more favorability if it could support what matters to buyers? These are some of the questions that led us to create Recoup,” says Claudio Bazzichelli, COO and Recoup co-founder.
Users and nonprofits can create an “instant fundraiser” by “flipping” the promotion to benefit their own personally-relevant cause (including their schools) and inviting their friends and supporters to participate.
Buyers have the opportunity to increase the guaranteed donation by converting part or all of the discount value into a tax-deductible contribution —even though they ultimately receive goods or services worth as much or more than they paid.
Matching sponsors agree to double, triple, or quadruple donations made to an organization of their choosing, dramatically amplifying the social effect.
And showing its personal commitment, Recoup has pledged until the end of 2011 to match all donations to its non-profit partners that sign up a minimum of 100 supporters.
Recoup is now open to thoughtful consumers.