Last Updated on August 12, 2011 by New-Startups Team
The GiftRocket product has been out for a few months and has received some incredible press from around the entrepreneurial community. Today we wanted to showcase them again because their web presence and imagery has greatly increased into what is now a beautiful visual experience.
GiftRocket, is an alternative for the $100 billion per-year gift card industry and allows gift givers the opportunity to send a gift card to anyone via email. Gift givers simply buy a credit for a particular business that is sourced from Yelp’s business listings within the GiftRocket website. The gift giver then buys credit for use within the business of their choice with their credit card and then sends off the GiftRocket to the recipients email. The recipient can then redeem the gift through their smartphone to cash in the gift card. The recipient simply pays for as they normally would – through credit card, cash or debit – and then on their smartphone hits the “Redeem” button and the value of the gift card is then deposited to the recipients PayPal account.
The smartphone is pretty essential to the use GiftRocket because it uses GPS technology to make sure you are at the establishment for which the gift is to be used in. If you don’t have a smartphone according to GiftRocket “You can borrow a phone to redeem. Otherwise, you can request redemption on your computer, and the sender will be able to approve.”
Even if your bill doesn’t amount to the full value of the gift card, you can still redeem the GiftRocket for its full value and most importantly the gift never expires. Thus, GiftRocket allows you to now send gifts anywhere to cover drinks, food or many of the other options for friends in other cities.