1/ A next step forward, a new family member and a new launch:
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Conversation
2/ First, next steps: flagship e-wallet CHAI has raised $70M in Series B financing on the merits of growing to 2.3M active users and $1.2B in tx vol in 18 months. Chai total equity financing to date: $88M.
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3/ Leading the round was Hanwha Securities, Ventures Asia, and . This marks a meaningful new chapter for Chai, as it strives to offer a differentiated set of digital payment solutions to APAC.
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4/ Second, a new family member. Earlier this year, Chai Holdco acquired Iamport.kr, a leading payments aggregator serving 1700 merchants in Korea and processing $3B+ in annual transactions.
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5/ Iamport will accelerate Chai's expansion to international markets and integration with its existing (and larger) merchant network ⭐️
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6/ Last but definitely not least, a new launch 🚀
Terraform Labs launches Buzlink (buzlink.io), a marketing platform that puts referral marketing on steroids
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7/ Referrals are powerful in helping to move product - you are more likely to buy something if a friend recommends it.
But $ put into referral marketing vastly trails FB/Google performance marketing
Problem: traditional referrals *don't scale incentives*
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8/ Trad referrals encourage "refer a friend, and his purchase gives both of you $10 off on next purchase" schemes.
Single depth rewards only work well for products with near universal appeal (e.g. Uber)
It's harder to find friends willing to shop at the same dress store as you
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9/ What happens when you reward entire referral chains?
What if referrals can be picked up by other referrers, and everyone in the chain gets rewarded when a final purchase is made?
It changes the referral game completely.
Replying to
10/ BuzLink scales referrals - it generates referral links via a smart contract on 's blockchain, and distributes rewards to all participating referrers when a final sale is made
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11/ BuzLink enables new business models - the referral economy. You could have instagram influencers, marketing agencies, and 4chan degens all competing to maximize product reach
The $10 coupon becomes (potentially) $1M UST
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12/ Go-to-market is cross-selling to Chai's existing merchant base
We are uniquely positioned to do this well
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13/ Congrats to everyone that's been hard at work to bring BuzLink to market 🥳
Next up: look forward to the 17th of December.
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