Giftly, a startup that brings gift card-giving and receiving to the mobile platform, announced today that it has been acquired by GiftCards.com.
Giftly, which launched in 2011, allows users to send and receive gift cards using their mobile device without requiring point-of-sale integration on the merchant side.
The financial terms of the deal were not disclosed, but San Francisco-based Giftly will become a part of GiftCards.com while maintaining its offices in the Silicon Valley.
Giftly had previously raised $2.8 million from Baseline Ventures, SoftTech VC, Floodgate, Thrive Capital, and TechStars co-founder David Tisch. Even though GiftCards.com has been in the industry since 1999, it is looking to raise its first round of capital this year, which it will use to accelerate its growth and complete the Giftly acquisition.
To learn more about Giftly, watch its FinovateSpring 2012 demo.
Inside a recent profile of Giftly were a handful of interesting metrics:
- 10,000 Giftlys sold so far in 2012
- $4 per Giftly collected on average (processing fees range from $1 to $10, based on price of gift)
- Gross revenues for 2012 expected to be $100,000
- “Tenfold” increase in sales according to CEO Timothy Bentley
Giftly provides customized gift cards that can be used at a wide variety of U.S. businesses. The company has been widely reviewed this year, with mentions in Fast Company, TechCrunch, and CNet.
Giftly has raised $2.5 million through investors like Baseline Ventures, RPM Ventures, and LightSpeed Venture Partners. They have formed partnerships with BancBox and CBW Bank, among others.
Watch Giftly’s most recent product demo from FinovateSpring 2012 here.