User:Dina Ward/Rewards Network
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| Company type | Private |
|---|---|
| Industry | Financial Services |
| Founded | 1984 |
| Founder | Mel Chasen |
| Headquarters | , |
Area served | United States |
Key people | Ed Eger (Chief Executive Officer) Steve Fusco (President) Shane Kern (Chief Financial Officer) Alice Geene (Chief Legal Officer) Andrei Utkin (Chief Marketing Officer) [1] |
Number of employees | 350 |
| Website | rewardsnetwork |
Rewards Network is a financial and marketing services company that provides restaurants with immediate capital (through merchant cash advance) and access to diners who belong to various dining rewards programs. Over 10,000 restaurants are members of Rewards Network. 97,000 restaurants have participated in the program over the past 30 years, with over $2.5 billion of financing being awarded.[2]
History[edit]
Mel Chasen founded Rewards Network in September 1984, as Transmedia Network, Inc., in New York City. The company started with 41 restaurants and 225 members. Mike Nichter, who created the MCI Green Card - the initial restaurant platform - invested money restaurant credits, barter experience, and sales management shortly after Mel and David Roth raised the initial funding. By 2000, Transmedia was the world's largest dining rewards program, with over 2 million members and 8,000 restaurants. In 2002, Transmedia changed its name to iDine Rewards Network. In 2003, the name was shortened to Rewards Network.[3] The company was taken private in December, 2010.[4]
In 2017, Rewards Network was acquired by TowerBrook Capital Partners, an investment firm headquartered in New York and London with more than $7 billion under management. In addition to buying Rewards Network, TowerBrook appointed Edmond Eger CEO and Steven Freiberg Chairman of the Board. Steve Fusco took the role of President in 2018.[5]
Rewards Network tools for restaurants[edit]
Comment management system[edit]
The Rewards Network comment management system allows restaurants to connect with their diners outside of the restaurant. When a member of Rewards Network eats at a program restaurant, they will receive a request for comment via email a day or so after paying their check. Restaurateurs can then know without any doubt that the comment came from someone who actually paid to eat at their establishment. Every review is verified and tied to actual money spent.[6]
Data and analytics[edit]
Rewards Network provides participating restaurants with data such as average check size, party size, ratings by key metrics, and geographic reach.[7]
Marketing for restaurants[edit]
Rewards Network markets program restaurants to diners via various rewards programs across the United States.
- Advertising opportunities provide additional exposure through spotlights, banners, and landing pages.
- Diner Reviews sends surveys to diners.
- Emails include embedded search engines and links that lead diners to the restaurant.
- Mobile Web allows diners to search for restaurants in or near any city.[8]
- Social Media connects diner ratings and reviews to Facebook.
- Web Marketing provides a virtual meeting place that connects diners to restaurants through dining program websites.
Dining programs[edit]
Airline programs[edit]
- AAdvantage Dining (American Airlines)[9]
- FREE SPIRIT Dining (Spirit Airlines)[10]
- Mileage Plan Dining (Alaska Airlines)[11]
- MileagePlus Dining (United Airlines)[12]
- Rapid Rewards Dining (Southwest Airlines)[13]
- SkyMiles Dining (Delta Air Lines)[14]
- TrueBlue Dining (JetBlue Airways)[15]
Hotel programs[edit]
- Caesars Rewards Dining (Caesars Entertainment)
- Choice Privileges Eat & Earn (Choice Hotels)
- Hilton Honors Dining (Hilton Hotels & Resorts)
- IHG Rewards Club Dining (InterContinental Hotels Group)
- Marriott Eat Around Town (Marriott Hotels & Resorts)
Other savings programs[edit]
- Dosh (Dosh)
- Fuel Rewards Dining (Fuel Rewards by Shell)
- Neighborhood Nosh (formerly iDine - American Express)
- Rakuten Dining (Rakuten)
- Upromise Restaurants (Sallie Mae)
Discontinued[edit]
- Club O Dining (Overstock.com)
- Orbitz Rewards Dining (Orbitz)
- Shop Your Way Dining (Shop Your Way)
References[edit]
- ^ "About Our Restaurant Funding and Marketing Services".
- ^ "Why Us". Rewards Network.
- ^ "Rewards Network". Hoovers.
- ^ "Middle Market". TheMiddleMarket.
- ^ "PRWeb". www.prweb.com.
- ^ "Comment Management System". Rewards Network.
- ^ "Data Insights". Rewards Network.
- ^ "Marketing Services". Rewards Network.
- ^ "AAdvantage Dining". Rewards Network.
- ^ "Rewards Network". Free Spirit Dining.
- ^ "Rewards Network". Mileage Plan Dining.
- ^ "MileagePlus Dining". Rewards Network.
- ^ "Rewards Network". Rapid Rewards Dining.
- ^ "Rewards Network". SkyMiles Dining.
- ^ "Rewards Network". TrueBlue Dining.