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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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