GiftRocket, a graduate of this year’s Y Combinator spring class, launched behind a great idea. The startup wanted to marry gift carding with location-based services, so that friends could send gift cards to each other that could only be accessed once they “checked in” to a certain location. So, for example, if you really wanted your friend to try out the coffee at a certain local coffee shop, you could send them a gift card to that coffee joint, which they could only redeem from the shopt itself.
As Robin pointed out in March, the idea was a simplified version of Venmo’s Gifi, which basically had users combine Venmo and Foursquare apps to achieve the same effect. I say “was”, because GiftRocket is today moving away from the “check in” portion of their service to an even more simplified and universal approach to sending personalized gift cards.
Beginning today, GiftRocket users can send and receive digital gift cards via email or Facebook, using PayPal, a bank account transfer, or check. Basically, GiftRocket is now an easy P2P money donation service, as users can decide to send $50 to their mother for Mother’s Day, and in a personalized email say, “Mom here’s $50 for you to use at Barnes & Nobles”. GiftRocket doesn’t involve merchants directly, but GiftRocket Co-founder Kapil Kale tells me that he thinks this social pressure/proof element will assure that people use the virtualized gift cards in the way they were intended. And the best part? Their gift cards don’t expire.
GiftRocket, a graduate of this year’s Y Combinator spring class, launched behind a great idea. The startup wanted to marry gift carding with location-based services, so that friends could send gift cards to each other that could only be accessed once they “checked in” to a certain location. So, for example, if you really wanted your friend to try out the coffee at a certain local coffee shop, you could send them a gift card to that coffee joint, which they could only redeem from the shopt itself.
As Robin pointed out in March, the idea was a simplified version of Venmo’s Gifi, which basically had users combine Venmo and Foursquare apps to achieve the same effect. I say “was”, because GiftRocket is today moving away from the “check in” portion of their service to an even more simplified and universal approach to sending personalized gift cards.
Beginning today, GiftRocket users can send and receive digital gift cards via email or Facebook, using PayPal, a bank account transfer, or check. Basically, GiftRocket is now an easy P2P money donation service, as users can decide to send $50 to their mother for Mother’s Day, and in a personalized email say, “Mom here’s $50 for you to use at Barnes & Nobles”. GiftRocket doesn’t involve merchants directly, but GiftRocket Co-founder Kapil Kale tells me that he thinks this social pressure/proof element will assure that people use the virtualized gift cards in the way they were intended. And the best part? Their gift cards don’t expire.
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