My coauthor Scott Allen recently wrote a widely-linked-to article on 10 Legitimate Businesses You Can Start for under $20. Perhaps we can add an 11th business: sell contact data to Jigsaw.
I just got the press release below from Jigsaw. Of course, there’s a big difference between ‘proving the business model’ and being cash flow profitable. I can’t comment if in fact they are profitable.
Proving the business model…
Jigsaw Data Corp.’s Business Contact Marketplace Starts Generating Income for Members
San Mateo, CA – March 9, 2005 – Three months after the official launch of Jigsaw, people participating in the first open marketplace for buying and selling business contact information are starting to make money. Jigsaw Data Corporation announced that it is making its first round of payments to members who earned and then sold Jigsaw Points. Among those making money in this first payout, the top 10 point-earners each will receive more than $750.
Members earn Jigsaw Points when they enter new contacts into the database, update existing ones or refer new members. They can either use their points to purchase other contacts, or they can sell their points to other members to make $1.00 for every correct contact entered into the Jigsaw system.
Unlike traditional data services, every business contact in Jigsaw contains an accurate email address, title, telephone number and address.“It’s great to start earning money doing something as easy as entering business contacts into Jigsaw. The concept is so simple: You enter contacts, you make money. Jigsaw’s a completely innovative service that’s going to change some key steps in the way we all do business,” said Jigsaw member Michael Danziger of RAE internet in New Rochelle, New York.
Since launching in early December, Jigsaw members have been adding approximately 3,000 new contacts per day to the database. Personal email addresses and cell phone numbers are not allowed. Currently, there are approximately 400,000 contacts at 38,000 companies in Jigsaw, up from 20,000 contacts at the start of the marketplace’s beta program in August 2004.
“To see people actually make money with the Jigsaw system so soon after launching is incredibly rewarding. The business model works,” said Jim Fowler, co-founder and CEO of Jigsaw. “The marketplace is doing what it’s supposed to do, provide incentive to members to add their excess business cards and keep the data fresh for other members. We expect this to make Jigsaw the go-to place for accurate business contact information.”
About Jigsaw Data Corporation
Jigsaw is an online marketplace where people buy, sell and trade business contact information. The Jigsaw marketplace offers members access to a database of corporate contact information that increases efficiency by shortening the time required to find necessary business contacts. The data contributions and collaborative oversight continuously made by the Jigsaw community ensures the accuracy and growth of the Jigsaw marketplace. Jigsaw Data Corporation is located in San Mateo, California. The company is funded by El Dorado Ventures and Norwest Venture Partners. For more information, please visit the Jigsaw marketplace at www.jigsaw.com.###
Contact:
Darcy Provo
Antenna Group Public Relations (for Jigsaw) 415-977-1920 darcy@antennagroup.com
