RewardStock

RewardStock operated as a fintech platform designed to help consumers optimize their travel rewards, including frequent-flyer miles, hotel points, and credit card rewards. The company was founded in 2014 by Jonathan Hayes and was headquartered in Raleigh, North Carolina.

The inspiration for RewardStock came from Hayes' personal experience planning his honeymoon. A Princeton graduate and former Wall Street investment banker, Hayes spent three weeks meticulously researching how to use loyalty points for a trip to the Maldives, ultimately paying about $200 for what was valued at a $40,000 trip. Realizing the complexity and time-consuming nature of this process for the average person, he left his job in finance to create a software solution that could perform this analysis in seconds.

The platform's core function was a proprietary algorithm that analyzed a user's linked rewards programs to find the most valuable redemption options for their desired travel goals. It served as a centralized hub for tracking points and provided guidance on whether to pay with cash or rewards for a particular booking. The business model was planned to incorporate two main revenue streams: referral commissions from travel partners when users booked trips through the platform, and a proposed $29 annual membership fee for full access to its optimization tools.

A significant milestone for RewardStock was its appearance on the television show "Shark Tank" in November 2018. On the show, Hayes secured a $320,000 investment from Mark Cuban in exchange for 10% equity and 1% in advisory shares. This event provided a substantial capital infusion and significant media exposure, leading to a surge in users. The company received its first major investment of $350,000 from Cofounders Capital in 2015.

In November 2020, RewardStock was acquired by the global financial information giant Experian in an all-cash deal for an undisclosed amount. Following the acquisition, the RewardStock website began redirecting to Experian, and the platform's technology was integrated into Experian's broader services to enhance its consumer finance offerings. Hayes transitioned to a role as Director of Innovation at Experian, which he held until April 2023.

Keywords: travel rewards, frequent flyer miles, credit card points, loyalty programs, rewards optimization, travel planning, financial technology, fintech, Jonathan Hayes, Shark Tank, Mark Cuban, Experian, travel hacking, points management, reward travel, booking platform, rewards algorithm, Cofounders Capital, NC IDEA, American Underground