LoSo made impressive progress in 2011. New app launch expected in January. Initial market in Westchester PA has about 15% of the bars/resaurants as paying customers and over 4,000 users. Active loyalty rewards programs running with over 1,000 Q-rewards scanned since Oct. 15th.
As an Angel Investor in LOSO, I can only say that this company has a great product, great team and is executing above plan. They are changing the consumer relationship with restaurants and allow restaurants to engage and manage their social media interaction with consumers.
LoSo cracked local social mobile-our model was built on creating a strong foundation of restaurants/bars that continually promotes our user side mobile apps for sustainable long-term growth and significant user acquisition with minimal dollars spent on advertising to gain users. We simply get local social users where they are locally and socially.