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Referral Program Terms

Last updated: September 28, 2026

These terms govern the Valarn referral program and are part of our Terms of Service. By participating you agree to these rules.

How it works

Share your referral link or code. When a new user creates an account using it, verifies their email address, and their first research report completes, both you (the referrer) and the new user (the referee) receive a bonus credited to your accounts: the new member receives 3 bonus research reports; the referrer receives 3 bonus research credits on a paid plan, or 3 bonus reports on the Free plan.

Eligibility

  • You must have an active Valarn account and be at least 18 years old.
  • The referee must be a genuine new user who has not previously held a Valarn account.
  • Self-referrals and referrals within the same organization do not qualify.
  • The referee must verify their email address. Disposable or temporary email addresses do not qualify.
  • One person, one referral: a second account belonging to you or to an earlier referee (including variations of the same email address), or an account created from your own network, does not qualify.

Rewards

  • A bonus is granted once per qualifying new referee, when that referee's first research report completes. A referee who never completes a report earns no bonus for either side.
  • You may refer as many friends as you like, but a bonus is earned for at most 10 referrals per calendar month and 50 in total. Referrals beyond those limits earn no bonus for either side.
  • A one-time bonus of 1 research report is granted the first time an account shares the weekly featured report (Stock of the Week), once per organization, ever. It is an advance on the referral bonus, not an addition: the first friend who joins from that account's link and completes a first report earns the referral bonus less the advance already paid, so a share and the sign-up it produces are rewarded once. Later referrals earn the full bonus. It otherwise follows the same rules as referral bonuses.
  • Earned referral bonuses do not expire. They are drawn on only after your plan's monthly allowance has been used.
  • Bonus reports and credits have no cash value, are non-transferable, and cannot be exchanged for cash or credit.

Fraud and abuse

Creating fake accounts, using bots, spamming, or otherwise gaming the program is prohibited. Referrals that do not meet these rules are declined automatically and we do not say which rule applied. We may withhold, reverse, or revoke bonuses, and suspend accounts, where we reasonably suspect abuse, fraud, or a violation of these terms or our Acceptable Use Policy.

Changes to the program

We may modify, suspend, or end the referral program, or change these terms, at any time, for bonuses not yet earned. Bonuses already validly earned will be honored unless earned through fraud or abuse.

Contact

Questions? Email support@valarn.com.

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