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Find out how many miles
your stuff is worth! |
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Mile High Swap was launched in 2008 by a former advertising executive who after years of flying and hundreds of thousands of miles, asked the question - "why aren’t there more opportunities to actually use my frequent flyer miles?" After researching the industry, he learned there are over 17 trillion unused frequent flyer miles and realized he stumbled onto something big.
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" Mr. Jacobson had his first ‘aha‘ moment after reading an article in The Economist Magazine, pegging the value of unused miles at $500 billion+". That article went on to say that frequent flyer miles were the second largest currency next to the dollar.
It was shortly thereafter that Mile High Swap formed to match those with miles with individuals looking to swap goods or services. "It truly is a win-win for all. It also is very timely as the economy weakens and the ability to swap for either tickets or goods and services is a great alternative to using cash." Said Jacobson, one of the founders.
While there were several programs that claimed to offer options to use miles, there was always a catch. MHS is truly the world’s first site to enable peer to peer swapping of miles for miles or miles for goods or services. All the others want you to convert miles into their points or limit you to items of their choosing.
"I wanted total freedom, free trade really, using frequent flyer miles. Part of the frustration with some of the other sites that have attempted to create a marketplace with miles is that they tend to want you to spend a block of miles on something ridiculous, like a waffle iron! I believed there had to be a better way." Said Jacobson.
Several models determined that $500 billion in useable mileswere available to purchase virtually anything. A rare business that thrives in a poor economy, Mile High Swap launched in Beta on December 8th, 2008.
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