Stickk

stickK.
com is an American Internet start-up company that enables users to make commitment
contracts in order to reach their personal goals. StickK set up a "commitment contract" where
user agree to achieve a certain goal, such as losing weight, exercising more, quitting smoking, or
conserving energy or any thingThey sign a legally binding contract that will send their money to
third parties, including either individuals (referred to as "Friend or Foe") or a number of
organizations and charity. The mission is to redefine goal-setting using data-driven techniques
that empower behavioral change. They believe that with the right tools and resources, anyone
can transform their goals into reality.
HISTORY OF STICKK.COM
stickK was started by two Yale University professors, Dean Karlan and Ian Ayres. During
graduate school at M.I.T., Karlan and a colleague made a wager to lose 40 pounds each, and to
referee one another so as to stay on target. Their service draws on their experiences and two
principles from behavioral economics, loss aversion and time inconsistency. They
recruited Jordan Goldberg, then a student at the Yale School of Management, to build the
company.
The company was founded in New Haven in 2007 and subsequently moved to New York City. It
was initially funded by a $150,000 investment from the three founders, and later raised about $2
million from a pool of investors in two rounds. The web site was launched in the beginning of
2008.
Usage of the site is free for individual users, with the initial business plan involving advertising
revenues. The company later created non-free B2B products, offering corporations a co-branded
version of StickK for the use of their employees or members. In May, 2010 stickK.com launched
Choose You, where individuals can write commitment contracts and have their friends or family
pledge money to the American Cancer Society if the contract is fulfilled.
According to Goldberg, users who put money on the line and have a referee tend to do best. 78%
of these users achieve their goals, as compared to only 35% who put no money down. Steven
Levitt, co-author of Freakonomics, wrote about and approved of the website and its
concept. StickK also appears in the [popular press] book More Than Good Intentions, where it is
mentioned as an example of a type of commitment device that can be adapted
to development programs in microsavings and health.
According to Karlan, the company's name comes from 'stick'ing to it, and the second K is the
legal shorthand for a contract. It also refers to carrot and stick.
HOW IT WORKS
STEP SET A STEP SET STEP SET A STEP ASK FOR

1 GOAL 2 STAKES 3 REFREE 4 SUPPORT
STEP 1:
Yet, most of us struggle to achieve our goals. Thats because theres a big difference
between having a goal and achieving a goalstickK works by helping people eliminate
this gap by using, what they call, a Commitment Contract.
A Commitment Contract is a binding agreement in which you sign with yourself to

ensure that you follow through with your intentionsand it does this by utilizing the
psychological power of loss aversion and accountability to drive behavior change.
By asking users to sign Commitment Contracts, stickK helps users define their goal
(whatever it may be), acknowledge what itll take to accomplish it, and leverage the
power of putting money on the line to turn that goal into a reality. Lose 15lbs., clean out
the garage, save for retirementyou can create any type of goal you want! At stickK,
They value that your goals are your goals. Thats why they provide users with the ability
to create any type of Commitment they want using a custom Commitment Contract or
personalize any of our preset goalsits your goal, so its user choice.
Defining your own goal is just the first step towards holding yourself accountable.
STEP 2:
IN the step 2 ,the person need to set some stake that can be in form of cash or without
stake(no cash).The person is having the option that he can play with cash or without
cash. The possibility of achieving goal increases with the stake. It was find that there
was 82.8% success rate when there was some stake and 42.7% success rate when
there was no stake. The stake can be
Charity
Anti-charity
Friend
CHARITY
In charity if the person losses the amount should be given to the charity organization decided by
him. On not achieving the desired goal the amount the person stake should be given the that
charity organization.It was found that the success rate with charity is 21.6%
ANTI-CHARITY
Anti-charity is a organization which person dislikes the most it can be any political organization
or corporate body, that user hate the most If the person losses the amount to be send to the anti
charity.It was found that the success rate with anti-charity is highest i.e 52%
FRIEND
Similar to the charity and anti charity, the person needs to provide the credentials of his friend
and stickk will transfer the amount to his friend account. It was found that the success rate with
the friend is about 26.5%
COMPETITORS OF STICKK
While some consider stickk a competitive threat to such major weight loss companies such as
Weight Watchers and Jenny Craig
The others competitors include
SparkPeople
PEERtrainer
Virgin Pulse
HealthyWage
Keas

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STEP SET A STEP SET STEP SET A STEP ASK FOR

A Commitment Contract is a binding agreement in which you sign with yourself to

The others competitors include

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