00:00Hey, Zingers, it's Dan Leitch, and I have a fantastic guest for you today.
00:06It is the CEO of Bullrush, Trent Hare.
00:09So great to be with you, Trent. Good to see you again.
00:11Yeah, likewise. Thanks for having me back on.
00:13Well, the pleasure and honor is all mine.
00:15Fascinating stuff you guys are doing at Bullrush.
00:17Let's give everyone an overview of Bullrush, if you want.
00:19Yeah, certainly.
00:21So, as we talked about last time,
00:22Bullrush is the first ever dedicated trading competition platform
00:26where we host both free and paid entry trading competitions,
00:30and people come and compete against each other for cash prizes.
00:34And people love the term gamified.
00:37What exactly is gamified training, and how does that work?
00:40Yeah, that's a great question.
00:42So, as most things these days, you know, everything's becoming gamified
00:46in terms of, you know, just trying to drive a lot of user engagement
00:49and give people an incentive to come back into the platform.
00:52And so we've done a lot of that at Bullrush.
00:54So, we have badges, certificates, we have experience points.
00:58And a lot of the things that we tied around to those experience points
01:01are now there's cash prizes where, you know, we have a monthly XP leaderboard,
01:06or whoever earns the most experience points in a month
01:09now goes and wins cash prizes.
01:10You know, first place, it's actually a lot.
01:12It gets $750.
01:13And that's not for winning competitions.
01:15There's no fees for that.
01:16You just come participate, use the platform.
01:19And if you do enough stuff in the platform or more than others,
01:22you can win $750.
01:24Now, listen, it's an incredible and, you know, fascinating concept.
01:28What has the user feedback been like, Trent?
01:30How many users are repeat and regular customers?
01:33Yeah, so the feedback's been great.
01:35One of the biggest things that came from the feedback here recently
01:39was a lot of the influencers and brands that we work with
01:44wanted fully branded competitions.
01:47And so that's a feature we are currently doing
01:49and it'll be fully available here in three weeks,
01:52where you can now come into our platform
01:54and build your own competition.
01:56Think of fantasy sports where you want to go
01:58and you want to play fantasy sports with your buddies.
02:00You can go create your own league
02:02and you can have it up and running in the platform.
02:04And so we built the same concept based on the user feedback on our side,
02:08where now you'll be able to go into our app.
02:11You'll be able to build your own competition.
02:13You can run it privately.
02:14So if you just want to do it with your friends and family,
02:16you can do that, or you can open it up to the public
02:19so anybody can come register.
02:21You can set different entry fees for it.
02:23You can set which products are able to be traded.
02:25You can set what the drawdowns are.
02:28A host of different things you can go customize
02:30to really make it feel like as if it's your own.
02:33And then most importantly, you can actually monetize it.
02:36So you can keep up to 23% of the entry fee
02:39if you go build your own competition.
02:41And so all of that came off the back of user feedback.
02:44And as we were talking with partners
02:46and as we were talking with the Benzingas of the world,
02:49everybody was wanting their own fully branded,
02:51customized competitions.
02:53And so this was the outlet to go do that.
02:55As they say, Trent, the options are endless.
02:56You got to love that.
02:58Now, how do you monetize the platform?
03:00And what is your revenue model?
03:01Yeah, so our revenue model is we keep a small percentage
03:05of the entry fee for providing the services and technology.
03:08So when you go and you enter a competition,
03:11you pay an entry fee.
03:12We'll take a small percentage,
03:14anywhere from 2% to 20% of that entry fee.
03:17And then the rest gets distributed back
03:18in the prize pool.
03:20And so it's, you know, it's a very competitive environment.
03:23It's, you know, we stole some ideas,
03:24borrowed some ideas, as I like to say,
03:26from the poker world,
03:28where it's a very similar concept to what they do.
03:30And as I said, listen, it's a fascinating concept.
03:32People are really excited about it.
03:34Are you looking to expand the scope
03:36of the platform right now?
03:37Yeah, we are.
03:39We are currently getting ready to offer
03:41free stock trading competitions.
03:43And so that finally got signed off
03:45by our in-house counsel and lawyers
03:47to be able to go offer stock trading competitions,
03:49which I know is a big thing with the Vidzika audience.
03:52It's one of the big initiatives
03:54after I attended the event for you guys in New York
03:57that I came back and we really explored it,
03:59really drove it home on how to go do this.
04:01And so, you know, earlier in January,
04:04we finally got the sign off on it.
04:06Those will all be free.
04:07So they're just literally come in,
04:09participate in a free stock competition,
04:10win some cash prizes.
04:12There's no entry fee for those.
04:13But that's one of the big initiatives
04:14that we're pushing forward here in the next month.
04:17In addition to the Build Your Own competition.
04:19And there obviously are so many exciting things
04:21going on in the space,
04:22like what you guys are doing at Bullrush.
04:24What are the biggest trends that you're seeing in the space
04:26and where do you think it's headed, Trent?
04:28Yeah, so again, the space is us.
04:30Nobody else does this.
04:31We're the first ever.
04:32We're the only ones to do this.
04:34I'm sure there'll be knockoffs here in the future.
04:36But the biggest trend for us is just the validity
04:39of what we've been doing and sort of the recognition.
04:42Obviously, when you start a new company
04:45and a new concept, there's that period of time
04:49where people have to come in, buy into it,
04:51trust that you're actually gonna get paid out
04:54if you do well.
04:55And so we've overcome that obstacle.
04:58Having been in the market since July with our beta launch,
05:01people now realize like, hey, we're actually a real company.
05:04We actually give away prizes.
05:06I think we've given away over $75,000 so far
05:09in free prizes to all the participants.
05:12And then that doesn't even include
05:13the paid entry competitions.
05:15Yeah, Trent, they can try to knock you off,
05:16but there's only one Bullrush, as we all know.
05:19Exactly.
05:20Trent Hare, the CEO of Bullrush.
05:22That was an absolutely fascinating conversation.
05:24Thank you so much for joining me today.
05:26Yeah, thanks again for your time.
05:27I appreciate it.
05:28Pleasure and honors, all right.
Comments