Follow the Money

Someone Made A Groupon Just For Rich Kids

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It is a truth universally acknowledged that those least in need of a leg up are most likely to receive it. Into that aphorism rolls Merchant Exchange, a new “luxury rewards network” based in New York targeting a subset cofounder Michael Tolkin likes to call “wealthy millenials.”

By Mr. Tolkin’s definition, that means New Yorkers 25-t0-35 who spend between $$30,000 and $40,000 annually, which we imagine refers to disposable income.

“They have money to spend and want to be discerning,” Mr. Tolkin tells Business Insider. “They’re educated and busy; they’re not coupon-clipping.” Presumably they’re also not whipping out their coupon shears because it’s 2012, but who are we to quibble with a noble benefactor of today’s youth-ish.

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