Is Drop dead?

Introduction

A few weeks ago, I had written about the new cash back app Drop.  Even in the title, I had predicted the demise of the app since their business model would never work.  Well, now that it’s been 2 weeks, while I’m not going to say the deal is dead, it’s in critical trauma in the ER.  Here are some data points:

  • My last successful redemption was on 6/30.  I submitted a payout for Amazon on 7/1 and have not heard anything and it’s been a week already
  • Some people have had clawbacks due to “duplicate” transactions, which I’ll write about later.
  • Some people’s accounts are negative
  • Charges used to show up in pending within a day; my last charge on 7/5 is nowhere to be seen on the app
  • I think everyone got the random ‘Let’s get you setup” emails on Thursday, like they somehow rebooted the system.

 

What do I think happened?  They released a product hoping it would succeed.  They were surprised at the volume in the first week of activity.  Their engineers didn’t think of a loophole, which I’ll talk about in another post.  Then on 7/1, they decided to shut things down while they figure out what the hell to do from now on since they can’t sustain that run-rate.  Didn’t I see this in an episode of “Silicon Valley?”   Anyway, if you’re already buying, then keep at it, but I wouldn’t go out of my way to hope Drop will track my purchases or pay out.

  • Nick Abel

    So I got spooked and made a redemption the day of this post. Noticed my points were way behind in tracking. Combined with the fact that it took the full 3 days to get the reward, I agreed Drop was on life support. Made a redemption today and it was literally instant. Got the email that I’d made a redemption, then got an email with the Starbucks code. Guess we’ll see how long they can stay afloat, but I’m pleased to have made a few bucks while it was kickin…

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  • shar

    This Derrick Fung dude seems like a nice Canadian fella. Aren’t all Canadians haha
    Too bad he got torn up, shredded and spat out as soon as he came to the country of MSers

    • Miles per Day

      Poor guy. Shoulda known better.

  • Mark Ostermann

    I love silicon valley – super pissed TJ Miller won’t be on it anymore though. His interactions with Jin Yang are the best part of the show imo!

    • Ken

      Yup. Also IT Crowd. It’s a British show with a lot of dry humor. Halt and Catch Fire is another good one about the coming of personal computers before the Apple IIGS.

      • Mark Ostermann

        I watch halt and catch fire too…did that get renewed?

        • Ken

          I’m not sure, we’ve only seen the first season.

          • Mark Ostermann

            Just looked it got a 4th and final season. The first season is by far the best imo though. I will miss staring at Donna 🙂

          • Ken

            I’ll stick it out. Yeah, she’s not bad.