Torontonians who are shaking up the tech sector
Mark Bachman founded FlipGive, an app that helps parents raise cash for their kids’ sports teams
Company HQ: Front and Blue Jays Way
Founded: 2016
Employees: 25
Users: 500,000
How it works: “FlipGive is an online shopping portal that connects parents to big-name brands like Apple, Nike and Indigo and earns them between five and 15 per cent cash back from every purchase, which goes toward their kids’ sports teams.”
Eureka moment: “I have three kids who play sports. My wife was organizing their team fundraisers—selling raffle tickets, chocolate bars, etc.—and it took a ton of work just to raise a few hundred bucks. I figured that instead of suckering families into buying junk, there had to be a way to make money from purchasing stuff you actually need.”
How much you spent initially: “I founded a different software business in 2009, so it was an easy pivot into this. We spent $2 million—which came from investors—to get things moving.”
Your turning point: “As more people signed up, more merchants came on board. That attracted more people and even more merchants. It really was a snowball effect. Now, we have more than 700 brands on the app.”
Tech Jargon you use too much: “I speak in math formulas when it comes to our company data.”
Tech Jargon you hate: “Everyone talks about being data-driven, but they’ve got it all wrong. That method favours quantity
over quality.”
The best advice you’ve received: “Focus on one thing and get it right before you grow.”
The worst advice you’ve received: “People pressured us to go after other markets—churches, schools, boy scouts—but we’re still scratching the surface of the sports market.”
Your tech role model: “Elon Musk. He’s doing big, bold, risky things to try to change the world.”
App you can’t live without: “I check LinkedIn three to five times a day.”
Coolest thing in your office: “We had an event at the Rec Room, and the programmers figured out which games would win them the most tickets. They ended up with this giant stuffed gorilla.”
Your go-to office attire: “I’m a jeans and golf shirt kind of guy.”
If you weren’t running a start-up: “I’m an entrepreneur at heart and would still be running some sort of business.”
