Lootbox app maybe not the first app that returns online shopping cashback to users but It will be the first app that automatically invests cashback money for users. It copies the model from the Shopback app with more into investment. I want to create this app to solve my problem that I’m an online shopping addict and have less money for investment even I’m basically got skin in investment and actually working in the industry.
The truth is, I get the idea from a meeting with my boss in StockRadars (Investment tech startup in Thailand). He said we need an innovative solution to sell it for brokerage companies. The list of ideas goes on and on. One idea that slips out of my mouth is I want a small investment like Acorns for each spending is to invest and how about “Shopback for investment”. Everyone was like this is superb, no regulation, no KYC, no anti-money laundering compliant. We basically invest our money from the referral program and promise it back to the user. Not get any funds from the users. Therefore No brokerage license needed. This could be a real deal to get more people to invest like we always wanted. I sleep on this idea for a week then I decide to pursue this idea for myself. I think it would be best for me to focus on this idea without worry about other projects that we currently handle. At the same time, my boss put it to the board and they allow the company to pursue the idea too but as a lead generator to the current trade platform. I just want to focus to solve a small problem that I have and see how it would go farther. I decided to quit the company I build and love and now It would be the first competitor too. To start a company of single-digit employees but it’s a risk I’m happy to take.
