Venture studio Thesis has announced its acquisition of the Bitcoin rewards application Lolli. While the financial terms of the deal remain confidential, this move signifies a major strategic expansion for Thesis, known for its focused investments within the Bitcoin ecosystem. Lolli, established in 2018, enables users to earn bitcoin rewards when shopping at over 50,000 online retailers or playing a selection of mobile games.
This acquisition is designed to integrate Lolli’s user base and reward mechanics directly into the Thesis portfolio. The platform will now synergize with Thesis's existing products, including the Bitcoin economic platform Mezo and the cross-chain protocol tBTC. This integration aims to create a more cohesive experience where earning and utilizing bitcoin becomes seamless.
Details of the Acquisition and Strategic Vision
The acquisition was finalized without public disclosure of the transaction value. For Lolli, this move represents a new chapter under the umbrella of a larger, like-minded organization dedicated to Bitcoin-based innovation. The core service that Lolli offers—allowing everyday consumers to accumulate satoshis through routine activities—remains unchanged and is now supercharged with greater infrastructure support.
Alex Adelman, co-founder and CEO of Lolli, emphasized the enhanced utility for users. He stated that the merger will allow Lolli's community not only to earn BTC but also to explore practical applications and deeper financial interactions through Thesis's suite of products like Mezo.
In a related development, Lolli’s enterprise rewards division, known as Mirado, has been spun off as a separate entity. Mirado specializes in providing white-label reward solutions and already serves a vast network of over 85 million cardholders.
Lolli's Journey and Previous Funding Rounds
Lolli's growth has been fueled by significant venture capital interest. Industry data confirms that the company successfully closed an $8 million Series B funding round in 2023. This round was led by Bitkraft Ventures, a notable venture firm with interests in gaming and technology. This latest investment brought Lolli's total raised capital to approximately $28.3 million, underscoring the market's belief in its business model and potential.
The platform has positioned itself at the intersection of commerce, gaming, and financial technology, tapping into the growing demand for accessible bitcoin onboarding mechanisms. Its acquisition by Thesis suggests a maturation of the business and a strategic pivot towards being part of a broader Bitcoin economy. 👉 Discover more on earning bitcoin rewards
The Expanding Thesis Ecosystem
Thesis is not a traditional venture capital firm; it operates as a venture studio. This means it doesn't just provide funding but also actively builds and operates its own projects, focusing intensely on Bitcoin and decentralized technologies. Its notable creations include the Mezo platform, which is designed to build an economic layer for Bitcoin, and tBTC, a secure protocol for moving value between Bitcoin and other blockchains like Ethereum.
The incorporation of Lolli into this ecosystem is a logical step. It provides Thesis with a direct channel to a large base of retail users who are already engaged in acquiring bitcoin, effectively creating a funnel into its more advanced financial products. This strategy of capturing users at the entry level and guiding them through a product suite is a powerful model for ecosystem growth.
Frequently Asked Questions
What is Lolli and how does it work?
Lolli is a browser extension and mobile app that allows users to earn a percentage of their purchase amount back in bitcoin when shopping at partner online stores. It also offers rewards for engaging with certain mobile games, functioning similarly to a cash-back program but with bitcoin as the reward currency.
What does Thesis do?
Thesis is a venture studio that builds and invests in projects within the Bitcoin and cryptocurrency space. It is known for developing foundational technologies and economic platforms aimed at expanding the utility and use cases of Bitcoin, such as the Mezo economic platform and the tBTC cross-chain protocol.
Will the Lolli app change after the acquisition?
For the average user, the core experience of earning bitcoin rewards is expected to remain the same. The primary change will be the potential for deeper integration with other Thesis products, offering users more ways to hold, use, and grow their bitcoin earnings within the same ecosystem.
What happened to Lolli's enterprise business?
Lolli's enterprise-facing division, which provided white-label reward programs under the name Mirado, has been formally separated from Lolli as part of the acquisition process. It will now operate as an independent company.
How does this acquisition benefit the average user?
The main benefit for users is the potential for a more integrated experience. Earnings from Lolli could be seamlessly transferred to a Mezo account for earning potential or used within other applications in the Thesis portfolio, creating a more unified and powerful bitcoin financial toolkit.
Is there any risk to my earned bitcoin?
The acquisition does not affect the security of users' existing rewards. Your bitcoin is held securely, and the operational change is primarily at the corporate level, aimed at enhancing the service offerings rather than jeopardizing existing assets.