TreatFeed, a newly launched social shopping application, has raised $5.4 million in funding led by Norwest Venture Partners.
TreatFeed, which is characterized as a ‘word of mouth’ rewards system, is the brainchild of HauteLook founders Brett Markinson and Konstantin Glasmacher, who recently sold the flash sales platform to Nordstrom for $270 million a few months ago. TreatFeed provides members with a way to benefit from their ‘word of mouth’ recommendations and turn them into rewards.
TreatFeed aggregates deals from retailers allows members earn rewards for sharing deals, and for the ongoing transactions of the people in their network. Users are essentially compensated for sharing in their social graph, or ‘social tree.’ Points can then be redeemed for products, exclusive offers and even converted into cash. TreatFeed makes money from affiliate fees.