WM makes investment in recycling reward program
Waste Management, Inc. has made a strategic
investment in Recycle Rewards, Inc., whose subsidiary, Recyclebank®,
rewards people for taking everyday green actions with discounts
and deals from local and national businesses.
As part of the investment, Waste Management expects to provide
access to Recyclebank’s green rewards program to its nearly 20
million North American customers over the next several years.
In addition, Recyclebank will assume Waste Management’s Greenopolis
social recycling platform, making Recyclebank the leading online
recycling rewards program in America.
As part of the agreement, Recyclebank adds another recycling
rewards offer to its members, acquiring Greenopolis’s social
recycling program, which rewards consumers for recycling on the
go by combining incentives with state-of-the-art collection and
Recyclebank’s rewards-for-recy-cling program is currently in
more than 300 communities in the United States and the U.K. Greenopolis’s
web-based rewards catalog will be incorporated into Recyclebank’s
rewards program of more than 3,000 local and national businesses
to offer even greater incentives to its member base.
Recyclebank will also assume management of the Greenopolis social
media, including Greenopolis.com, RecyclePix and Oceanopolis,
the Facebook game that uses social gaming to reward recycling
in real life and the virtual world.
Waste Management joins existing Recyclebank investors RRE Ventures,
Sigma Partners, Kleiner Perkins Caulfield and Byers, The Westly
Group, Generation Investment Management, Top Tier Capital Partners,
Physic Ventures and Craton Equity Partners.