GiftRocket is a new type of gift card that works for any business, even if that business doesn't have gift cards itself. It combines the thoughtfulness of a gift certificate with the flexibility of cash. There's no card to carry, and if the recipient doesn't make it to the business, they can spend the money on something else. How it works is that a person can buy someone else a gift. They choose a business and then decide how they want to deliver it to the recipient (this can be via Facebook, email or a print out). The recipient redeems the money via a bank transfer, PayPal payment, or a check in the mail. They then can purchase the gift and enjoy it as they wish. This eliminates the concern that a recipient may not have a certain business nearby them, or that they will spend only a portion of the gift and the rest will sit on the card, buried in some drawer for eternity. GiftRocket makes giving gifts easy and it is convenient for both the giver and the recipient.
GiftRocket was founded by Nicolas Baum, Jonathan Pines and Kapil Kale in 2010. They are a San Francisco-based operation. GiftRocket has been reviewed on such sites as Bloomberg Businessweek, UrbanDaddy, Mashable and TNW. In December 2011, the startup received $500,000 in a round of angel investments in order to expand their operations from a group of three.
GiftRocket is different from other e-certificate applications in that the recipient simply has the cash deposited into their bank account, into their PayPal account or they can receive a check. That way, no one has to worry about the complications that gift cards can pose (such as possibly being lost or stolen, expired or the company going out of business). Plus gift givers could indicate any company in the world as the intended target of the gift, regardless if that company supports gift cards or does not.
GiftRocket is well designed, professional in its appearance and convenient to use for both gift givers and recipients. The site is secure in its transactions that move money to PayPal or bank accounts. The site was fast and responsive and there were no broken links observed during the trial. Users can also provide gift in any amount (in dollar increments). This is nice for smaller gifts or not having to be locked to just the traditional $25 gift card increments.
Users can register for GiftRocket either by sending a GiftRocket gift or by synchronizing to their Facebook accout to the GiftRocket application.
GiftRocket charges the gift-giver $1 + 5% of the gift amount. The recipient simply gets the gift and does not have to pay anything.
GiftRocket is ideal for anyone who give giftcards as gifts to their friends, family or co-workers. It really is a convenient and worry-free way to deliver an act of thoughtfulness and takes out any of the concerns that traditional gift cards present. It's fee may be a bit high for small sized card and larger sized gifts too. However, the convenience that they offer is worth it in most cases.