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What is BigDoor?
Jeff Malek: We do custom loyalty programs. We create basically a point system for a website, white label so it matches your brand, and we reward your users to increase engagement for your website, and to increase loyalty and acquisition rates.

What kind of traction has BigDoor seen since launch?
Keith Smith: Traction has been great as of late. It took us a couple of years to really find product market fit and to get our solution to the point where we can really repeat it over and over again. At this point, we have 50 million monthly active users, we power reward programs for hundreds of different companies and brands that we work with. We work with very big brands, many of which we haven’t announced yet, but will be announced in the next couple of months. Some that have been announced: NFL, Major League Baseball, LA Times, Yamaha, Univision, and many more.

What do you know now that you wish you would have known when you started?
Keith Smith: I think one of the things that comes to mind for me is the idea that in a startup you need to focus a lot more than you think you do. We all have this big grand vision of what we want to accomplish and as a result I think we end up taking on too much. I was just this morning in a meeting with another entrepreneur, another founder/CEO, and we were talking about all of the things that they’re trying to do and trying accomplish right now. It sounds like us about a year-and-a-half ago. It’s very easy from the outside looking in to say, “Wow you’re trying to do far too much, you’re trying to go to market in four different categories and all these different market segments. Focus, and pick one.” We tried to do way too much of that early on and it took us quite a while before we finally said we really do need to focus on big brands where we have great traction. It took us way too long to get to that point I think.

What’s a hypothesis you’ve had that has failed and how did you respond?
Jeff Malek: So the thing that comes to mind is how we started. I mean we had a completely different business model when we started. We knew when we kicked this thing off we wanted to make money from web publishers. We wanted to help people make money online. The first idea we had wasn’t solid enough, it wasn’t playing out so we did a pivot at the end of the first year and started working on the loyalty platform.

Keith Smith: There are multiple pieces of our hypothesis and the overall strategy of what we’re trying to accomplish here and we try to take on too many of those things all at once. We try to work with large clients, small clients, we try to have a self-serve automated tool as well so that small customers can come and sign up on their own. Trying to do all of those things at once was certainly a flawed hypothesis and while individually any one of those could be the right thing down the road, we decided that we had to focus on narrowing the hypothesis onto a smaller set of things and do well on those things and then we can expand beyond that.

If BigDoor were an animal, what would it be and why?
Elvis. Yes, he is the King and the King of everything, which includes animals..

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