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Giftbit is Giving You Your own Online Currency and Gift Cards

Giftbit is Giving You Your own Online Currency and Gift Cards

When Leif Baradoy was helping his brother move he found a drawer full of unused gift cards. This was the inspiration for Giftbit, the company Baradoy would go on to found with Peter Locke. Giftbit offers companies a service where they can send customers digital gift cards with set expiration dates through email, then follow up via email to remind the customers to use the cards before they expire. Because of their business model, the company loses no money if the customer doesn’t respond. “Giftbit customers are able to track, audit, and manage their gift card offers and campaigns down to the recipient level,” Baradoy told GeekWire last fall. The company received venture funding early in 2016 from Founder’s Co-op and Freestyle, and in the time between then and now have identified a need that they have just announced during TechCrunch Disrupt SF that they will fill, the need for a business to be able to create their own digital currency on the fly and in whatever form they want – promo codes, refund credits, or digital gift cards for sale. This new offering can help businesses in a number of ways, but the one that jumps out to me is retaining profits when a customer decides they want…

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INTERVIEW: $100 Billion Market, 30% Growth Per Year, Nets Over $10 Million in Sales in Less than Two Years

$100 Billion Market, 30% Growth Per Year, Nets Over $10 Million in Sales in Less than Two Years

How many unused gift cards to you have right now?  The next time might be sooner than you think.   In a market where players are disappearing regularly George Bousis has built a substantial defensible business in the resale of gift cards. How do you create a barrier to entry in the gift card resale business?    In this interview George tells Roy exactly how he has created a technology barrier that is far superior to anything ever done before in this space.  The business is growing so fast that he is hiring 3 or 4 new people every week.  Based out of Chicago, Illinois, Raise.com is a company to watch. You can listen to or read the interview below:       Roy:    My name is Roy Weissman from MediaJobs.com. Today, we’re speaking with George Bousis, who’s the founder and CEO of Raise.com. Sixty-three million in gift cards go unredeemed every day. Raise is an online marketplace where users can sell unwanted gift cards to each other, turning waste into real value. Hello George, how are you doing today? George: Doing well, Roy. Thank you for having me. Roy:  George, we appreciate your spending the time. How did you get into this business?…

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