Wrapp’s Social Media Gift Card App
Wrapp is an innovative new app that enables gift-givers to send electronic gift cards to their Facebook friends. Users sign up via Facebook, giving Wrapp access to their profile. The app then generates a list of birthdays, interests, and demographic information for each friend. When the buyer selects a friend, Wrapp will provide a selection of gift cards that person is eligible for, according to participating retailers’ specific target groups.
What’s particularly interesting about Wrapp is that the platform is also partnering with retailers that will award each card with $5-$10 (£3.18 – £6.37) of ‘free’ money. The card giver can add more money and then post it to Facebook, offering mutual friends the option of adding their own monetary contributions.
Wrapp is also notable for its potential to drive consumers back into bricks-and-mortar stores. Once recipients receive their card, it can only be redeemed in-store, via smartphones.
The app is currently only available in Sweden. But its founders – which include former executives from online music portal Spotify and discount voucher site Groupon – have revealed plans to launch later in 2012 in the US and the UK. This expansion is thanks to investment from Reid Hoffman – founder of social networking site Linked-in– and his venture capital firm Greylock Partners.