Key Takeaways
- Strategic Acquisition: Bitcoin venture studio Thesis has acquired Lolli, a cashback platform that rewards users in Bitcoin.
- Synergy Potential: Lolli will integrate with Thesis’s ecosystem, including Mezo (a Bitcoin financial platform) and tBTC (cross-chain protocol).
- User Benefits: Post-merger, Lolli users can earn BTC and utilize it via Mezo for real-world applications.
- Corporate Restructuring: Thesis spun off Mirado, Lolli’s enterprise rewards platform serving 85M cardholders.
- Funding Background: Lolli raised $28.3M total, including an $8M Series B led by Bitkraft Ventures in 2023.
Transaction Overview
Thesis, a Bitcoin-focused venture studio, finalized its acquisition of Lolli, a pioneer in Bitcoin rewards. While financial terms remain undisclosed, the merger aims to amplify Lolli’s 50,000-retailer network and gaming rewards system within Thesis’s infrastructure.
Alex Adelman, Lolli’s CEO, emphasized the merger’s value:
"This union lets users not just earn BTC but also leverage Mezo’s tools for practical utility—bridging earning and spending seamlessly."
Integration Roadmap
- Mezo Collaboration: Lolli’s rewards will funnel into Mezo, enhancing BTC liquidity and usability.
- tBTC Protocol: Cross-chain capabilities may expand Lolli’s reward redemption options.
- Mirado Spin-off: The B2B rewards platform now operates independently, continuing its white-label services for major card issuers.
Industry Context
- Lolli’s Growth: Since its 2018 launch, Lolli has partnered with retailers like Nike and Walmart, gamifying Bitcoin accumulation.
- Thesis’s Portfolio: Known for tBTC and Fold (a Bitcoin debit card), Thesis strengthens its Bitcoin-economy foothold with this acquisition.
FAQs
Q: How does Lolli work?
A: Users shop at partnered retailers or play select games to earn Bitcoin cashback—typically 1-30% per transaction.
Q: What’s Mezo’s role post-acquisition?
A: Mezo will act as a financial hub for Lolli-earned BTC, enabling savings, loans, or payments.
Q: Is Mirado still part of Lolli?
A: No. Mirado was spun off separately to focus on enterprise clients.
👉 Explore Bitcoin rewards with Lolli
👉 Learn about Thesis’s ecosystem