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Oren Charnoff
Co-Founder & CEO @ Fondue - acq by Postscript
Oren Charnoff is currently the General Manager of CashBack at Postscript, a position he assumed following the acquisition of his company, Fondue, in the second quarter of 2023. At Postscript, he focuses on scaling the CashBack line of business (LOB), which is designed to provide merchants with a more effective discounting method compared to traditional coupon codes. This innovative approach aims to enhance customer engagement and profitability for brands utilizing SMS marketing strategies.123
Background and Experience
- Co-Founder & CEO of Fondue: Charnoff co-founded Fondue in early 2021, where he developed a fintech solution that offers CashBack as an alternative to discounts. Under his leadership, Fondue raised approximately $11 million and grew to serve hundreds of e-commerce brands on Shopify before its acquisition by Postscript.13
- Education: He attended the University of Maryland College Park, where he likely gained foundational knowledge that contributed to his entrepreneurial journey.1
Vision and Impact
Charnoff's vision for CashBack at Postscript is to position it as the leading discount choice for merchants, enhancing their revenue potential while providing customers with a perceived higher value through CashBack incentives. His experience with Fondue has been instrumental in shaping this strategy, emphasizing the importance of customer trust and engagement in e-commerce settings.23
In summary, Oren Charnoff is a dynamic leader in the e-commerce space, leveraging his expertise to redefine discounting strategies through innovative CashBack solutions at Postscript.
Highlights
Postscript (US office) is hiring A LOT right now! Sales, BD, CS, Eng! 🐿 Join the Dream Team
See here:
I’ve collected data from hundreds of our DTC brand partners’ discount strategies.
Some sold $5 flowers, others sold $5,000 golf clubs.
One stat stood out to me among the rest, and I admittedly don’t talk about it enough.
If you’ve read my content before you know I talk a lot about the math behind CashBack:
→ 50% of rewards go unclaimed → 30% of rewards are claimed as cash → 20% of rewards are claimed as site credit
The 50% goes right back into the brand’s pocket.
The 30% is effectively a standard discount (but for $0.30 on the dollar).
But the 20% is where things get interesting.
Our data shows that on average, of the customers redeeming site credit:
- 82.5% of them don’t even end up using the rewards
- On average, the 17.5% who do claim it spend 2.75x the reward amount
In short, the site credit reward option is much more profitable than some may take it at face value. Knowing this, some brands like to juice the site credit reward up.
How you structure rewards is completely up to you. But the math is the math—CashBack is the more profitable way to discount.
Think you’re ready to give it a shot?
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