EP 568: 3,000 Brands Have Discounts on BonusWay, $63M in 2016 Volume, $5m Revenues, 40 employees, $9m raised with CEO Tatu Koistinen

Published: Feb. 12, 2017, 10 a.m.

Tatu Koistinen, the CEO of Bonusway. His background is in loyalty and digital marketing and he has many growth stories to share. He\u2019s now building the most social e-commerce loyalty platform on earth. He\u2019s currently focused on building the leadership and culture of the business and he\u2019s also an Ironman triathlete.

Famous Five:

  • Favorite Book? \u2013 The Halo Effect
  • What CEO do you follow? \u2013\xa0 n/a
  • Favorite online tool? \u2014\xa0 Asana
  • Do you get 8 hours of sleep?\u2014 Yes
  • If you could let your 20-year old self, know one thing, what would it be? \u2013 Trust yourself, act quicker, and be brave

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Time Stamped Show Notes:

  • 01:16 \u2013 Nathan introduces Tatu to the show
  • 02:00 \u2013 Bonusway creates more sales for ecommerce businesses
  • 02:09 \u2013 Bonusway gets compensated when they create sales for a particular business
  • 02:21 \u2013 Bonusway inspires consumers by informing them of the newest sales and shopping opportunities
  • 02:48 \u2013 Bonusway is similar to a marketplace
  • 03:15 \u2013 The companies that are partnered with Bonusway
    • 03:40 \u2013 The biggest partner has the most amount of sales generated by Bonusway
  • 03:53 \u2013 The sales that Bonusway has generated for Hotels.com
  • 04:20 \u2013 The ways Bonusway connects with Hotels.com\u2019s customers
  • 05:15 \u2013 Total volume of sales from all the partners combined is \u20ac60M
  • 05:39 \u2013 Bonusway gets commission
  • 06:20 \u2013 Sample computation of Bonusway\u2019s commission
  • 07:17 \u2013 Bonusway\u2019s commission percentage varies per company
  • 08:00 \u2013 Average 2016 revenue
  • 09:10 \u2013 Tatu\u2019s idea for Bonusway\u2019s business model
  • 10:05 \u2013 Bonusway was founded in 2011
  • 10:24 \u2013 The number of people who bought in Bonusway\u2019s platform
  • 10:50 \u2013 Bonusway is currently partnered with 3000 companies
  • 11:10 \u2013 2017 goal
  • 12:00 \u2013 Total funding of Bonusway is \u20ac6.9M
  • 12:20 \u2013 Bonusway had a previous capital raise
  • 12:39 \u2013 Team size is 40
    • 12:50 \u2013 Based all in Europe
  • 13:10 \u2013 The Famous Five

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3 Key Points:

  • Be in the space where you feel most confident and know how things work.
  • Having a unique business model equates to less competition in the space.
  • Trust yourself, act quicker, and be brave.

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Resources Mentioned:

  • Acuity Scheduling \u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
  • Drip \u2013 Nathan uses Drip\u2019s email automation platform and visual campaign builder to build his sales funnel
  • Toptal\xa0\u2013 Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn\u2019t have to hire a co-founder due to the quality of Toptal
  • Host Gator\xa0\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
  • Audible\xa0\u2013 Nathan uses Audible when he\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books.
  • The Top Inbox\xa0 \u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
  • Jamf \u2013 Jamf helped Nathan keep his Macbook Air 11\u201d secure even when he left it in the airplane\u2019s back seat pocket
  • Freshbooks \u2013 Nathan doesn\u2019t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
  • Show Notes provided by Mallard Creatives