Steve Cho, Former Executive at Kiip and IBM, Joins Lootsie as Chief Operating Officer

LOS ANGELES--()--Lootsie, a mobile loyalty reward company, has snapped up a recognizable name in the mobile rewards space to become the company’s Chief Operating Officer. Steve Cho is joining the company from Kiip, a rewards network, where he served as vice-president of business development and was instrumental in building Kiip’s Reward Network with top developers resulting in 160x growth. Cho brings more than 10 years leadership experience in sales, management, and business development and will be based out of Lootsie’s Los Angeles headquarters.

“Lootsie is one of just a handful of companies that know how to tap into brand dollars in the space and the product is uniquely positioned above them all to drive true loyalty in mobile apps and games.”

Lootsie offers a new type of engagement platform for brands and developers that focuses exclusively on building emotional connections between brands and their audience, while better engaging and retaining users within apps. Lootsie works a lot like credit card rewards points, but for mobile apps. Consumers earn points for hitting achievements in all their favorite apps that they can redeem for real-world rewards (like a $25 gift card to BCBG or a free cupcake from Sprinkles Cupcakes) which Lootsie directly partners with brands to offer.

While at Kiip, Cho led all business development efforts, which includes all vertical expansion of the network, strategic partnerships, and alliances. He grew the Kiip Network from 9 mobile games to more than 2,000, expanded the company’s presence into new app verticals, such as in Health and Fitness, Productivity, Lifestyle, and Music, and managed all facets of developer relations from partnership, integration, operations, and community. Prior to Kiip, Cho served as Software Sales Leader with IBM Software Group solutions, leading sales efforts with strategy, planning, management, and execution to create a multi-million dollar business within IBM.

“While at Kiip, Steve built out complete infrastructures from the ground up in an industry that is just beginning to scratch the surface of its potential and he has a track record for driving hyper growth at scale. He has a keen sense of where this space is heading and how important it is to create more effective and creative solutions for brands and developers who want to acquire new customers and create new revenue streams while providing a rich and valuable experience for users,” said Marc Mitchell, CEO and Co-Founder of Lootsie. “When it comes to the intersection of mobile advertising and mobile rewards, there's not a single person better equipped to take on this role as we enter into the next chapter of our growth.”

In his new role, Cho will focus on business strategies and partnerships to help shape the direction of Lootsie’s future product and business initiatives as Lootsie begins to expand both internationally and across verticals. He will also oversee the business development team and efforts to bring on-board developer partners.

Compared to obtrusive and annoying banner ads and pop-ups, rewards are becoming one of the most effective engagement tools in mobile both for brands and developers, as they’re the first offering to create a reciprocal value exchange with users to ensure that brands and developers have a leg up in the battle for a user's attention. While in beta, Lootsie's platform is already showing conversion rates over 40X the industry average, and has quickly become the go-to mobile acquisition channel for top brands, developers and publishers, to monetize and build loyalty with their audience.

“I'm a long-time avid mobile gamer and earning rewards in mobile gaming is what got me into this space, which I'm still in love with to this day. A few years ago rewarding users was a great concept, but today you're seeing focused attention and allocation of resources from developers and brands around user loyalty with retention and engagement, and how rewards in gaming and apps can move the needle on both,” said Steve Cho, COO of Lootsie. "Lootsie is one of just a handful of companies that know how to tap into brand dollars in the space and the product is uniquely positioned above them all to drive true loyalty in mobile apps and games."

Cho holds a B.S., International Political Economy from University of Puget Sound and a MBA, Marketing from University of California, Davis.

About Lootsie

Lootsie is the simplest way to connect brands with their audience by introducing the loyalty experience into mobile apps and games. Lootsie's platform drives meaningful user engagement for brands by offering a marketplace where users can redeem in-app loyalty points for real-world rewards. For developers, deeper engagements means boosted ad revenues and elevated app loyalty. The company's unique platform is already being utilized by industry leading mobile developers such as Apostek, FGL, and ZQGame. Delivering conversion rates over 40x the industry standard, Lootsie cultivates direct relationships with brands to become the go-to acquisition channel for companies like BCBG, Fiji Water, Wonderful Pistachios, Lyft, and Sprinkles Cupcakes. Lootsie was founded in 2012 and is headquartered in Culver City, California. For more information, visit www.Lootsie.com or to schedule a demo, e-mail contact(at)lootsie.com.

Contacts

For Lootsie
Nicole Jordan, 310-390-3017
nicole@radixcollective.com

Release Summary

Lootsie, a mobile loyalty reward company, has named Steve Cho, former Kiip executive, as the company's Chief Operating Officer.