Ari Mir is co-founder and CEO of Pocket Change, a company with a vision to build the world’s first universal micro currency.
Ari Mir is no stranger to entrepreneurial endeavors. At 19, he decided to start a print magazine while still in college. In just nine short months and with no funding or experience, he built a team of 10 writers and photographers to get his magazine to the newsstands. But to him, there was something even better that came out of the experience. “Best of all, Paris Hilton graced the cover and Nintendo sponsored our launch party,” he remembered.
Moving from print to tech startups, Ari started MyStreak, a social network focused on sports, but the company closed down about a year later. Ari is always on the lookout for something new, and that is where Pocket Change came into play. “As a product guy, I dream about building products that are woven into the fabric of society,” Ari said. Noticing how much of people’s lives are spent on their mobile devices, Ari couldn’t think of a more intimate relationship. He wants Pocket Change to be a consumer’s companion as they lead more digital lives.
Pocket Change was also built to address the major problem Ari noticed in the games industry: user acquisition costs due to poor engagement and retention. “If you spend $3 to acquire a user and 50% of users leave immediately, you’ve actually spent $6 to acquire a user,” he explained. His idea is to reward users for staying engaged through the use of a universal micro currency. With over 50 million users rewarded, Pocket Change is on its way to making its vision a reality.
So what does Ari see happening in the games industry in the next five years? “You’re going to continue to see more social casual games like Ruzzle and Bubble Galaxy with Buddies come out,” he predicts. “These games have lower development costs and higher retention, which makes them very appealing to developers.” He also believes gambling will be a big hit in the industry. “The idea of a casino in your pocket is very disruptive,” said Ari.
To find out more about Pocket Change, visit https://pocketchange.com/.