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

Tatu Koistinen

In Episode #568, Nathan interviews Tatu Koistinen, the CEO of Bonusway. His background is in loyalty and digital marketing and he has many growth stories to share. He’s now building the most social e-commerce loyalty platform on earth. He’s currently focused on building the leadership and culture of the business and he’s also an Ironman triathlete.

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Famous Five:

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

Time Stamped Show Notes:

  • 01:16 – Nathan introduces Tatu to the show
  • 02:00 – Bonusway creates more sales for ecommerce businesses
  • 02:09 – Bonusway gets compensated when they create sales for a particular business
  • 02:21 – Bonusway inspires consumers by informing them of the newest sales and shopping opportunities
  • 02:48 – Bonusway is similar to a marketplace
  • 03:15 – The companies that are partnered with Bonusway
    • 03:40 – The biggest partner has the most amount of sales generated by Bonusway
  • 03:53 – The sales that Bonusway has generated for Hotels.com
  • 04:20 – The ways Bonusway connects with Hotels.com’s customers
  • 05:15 – Total volume of sales from all the partners combined is €60M
  • 05:39 – Bonusway gets commission
  • 06:20 – Sample computation of Bonusway’s commission
  • 07:17 – Bonusway’s commission percentage varies per company
  • 08:00 – Average 2016 revenue
  • 09:10 – Tatu’s idea for Bonusway’s business model
  • 10:05 – Bonusway was founded in 2011
  • 10:24 – The number of people who bought in Bonusway’s platform
  • 10:50 – Bonusway is currently partnered with 3000 companies
  • 11:10 – 2017 goal
  • 12:00 – Total funding of Bonusway is €6.9M
  • 12:20 – Bonusway had a previous capital raise
  • 12:39 – Team size is 40
    • 12:50 – Based all in Europe
  • 13:10 – The Famous Five

3 Key Points:

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

Resources Mentioned:

  • Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
  • Drip – Nathan uses Drip’s email automation platform and visual campaign builder to build his sales funnel
  • Toptal– Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to the quality of Toptal
  • Host Gator– The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
  • Audible– Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books.
  • The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
  • Jamf – Jamf helped Nathan keep his Macbook Air 11” secure even when he left it in the airplane’s back seat pocket
  • Freshbooks – Nathan doesn’t 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