Have you heard of Mashalot? It's a social retail marketplace that allows businesses to promote products and services, while “Mashers” leverage their own social networks to save money on products and services. It's currently available in the greater Twin Cities metro area, with a planned national launch early March of 2012 at the South by Southwest Music and Media Conference in Austin, Texas.
Mashalot works by encouraging consumers or “Mashers” to use their social media influence to gain special pricing from participating Mashalot businesses. Transactions in the marketplace are called “Mashes." Mashes can be created by a business transaction that drives specific promotions, or with a consumer-driven price request from an individual or group of Mashers. Each Mashalot ad is available for five days and all promotions are pre-approved to meet Mashalot advertising guidelines.
Businesses are charged no upfront fee to participate in Mashalot and revenue for the company is 100% commission-based. Several local Twin Cities businesses have already signed up including Suburban Chevrolet in Eden Prairie, La Casita Mexican Restaurants and Lucky Dog Pet Lodge in Bloomington. Mashers may also request a “Mash Your Price” from non-participating businesses. Mashalot will then contact the requested business to negotiate the Mash.
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