SOURCE: Lottay


November 17, 2009 09:15 ET

Lottay Transforms Gifting Money Into a Personal and Thoughtful Online Shopping Experience

People Can Give and Receive Gifts, Contribute Towards a Wish, or Make and Share Wish Lists This Holiday

LOS ANGELES, CA--(Marketwire - November 17, 2009) -

  • Former Evite and executive Harry Lin named Lottay CEO
  • Company closes Series A funding round of $475,000 led by DFJ Frontier
  • PayPal partnership offers instant, online gifting that's safe and secure
  • Company launches blog at

Lottay Inc., the online gift-giving company, today bolstered its mission to make giving and receiving money a great, online gift experience. The company's free service, found at, makes the gift of money a genuine expression of the warmth, support and sentiment that prompts giving. To help even more people with their online shopping and wish lists, Lottay has appointed Harry Lin as CEO; closed its Series A funding round of $475,000 led by DFJ Frontier; partnered with PayPal to simplify the trusted, guaranteed transfer of money from givers to recipients; and launched its company blog at

The Lottay online gift-giving and wish-list service helps individuals and groups give and receive better gifts. Lottay gifts are money, wrapped in the emotion of the occasion via e-greeting cards, personalized messages, images and pictures. The gift is sent instantly and securely, delivered as a surprise via email and Facebook. Givers can specify the gift they would like the money to buy -- from a cup of coffee to a Caribbean cruise and beyond -- while receivers are free to use the money to buy the intended gift or anything else they want.

"Cash may be king, but its reputation as a gift stinks," said Lottay's Lin. "It's usually seen as cold and impersonal, so we're changing that. We want to remove the stigma and embarrassment of giving money as a gift, so we've created a way to make giving and receiving money a fun, thoughtful and personal experience."

The Gift of Money Gains Momentum

Gift giving is rewarding, but finding and buying those gifts can be a challenge. People do not know what to give, or shopping for the gift becomes a harried, last-minute chore. Online gifts and gift cards introduce more challenges. Online virtual gifts don't exist except as pixels on a screen -- not a very satisfying present. Gift cards may be simple, but many people never redeem them. Meanwhile, Visa, American Express and other general-purpose gift cards are loaded with fees, expiration dates and merchant restrictions.

Rather than tie people to a card, Lottay frees them with cash. Lottay users get instant gifts with personal delivery, no hidden fees, no crowds, no shipping and handling charges and no re-gifting. The entire experience is online, safe and secure thanks to PayPal. There is no cost to gift givers and recipients using the Lottay service.

"We just fell in love with the simplicity and obvious consumer value of Lottay," said David Cremin, managing director at DFJ Frontier and Lottay's newest board member. "There's no other online gift giving site that provides people with a way to gift money to friends and family in a truly thoughtful and personal way. Whatever the occasion -- a new baby, graduation or the holidays -- Lottay is the secret weapon in your gift giving arsenal to find and give these gifts the right way."

To fortify Lottay in the pursuit of its burgeoning opportunity, the company has made some key moves, including:

  • $475,000 Series A funding - Lottay recently closed its Series A funding round which was led by DFJ Frontier. The new funds will be used to further develop the company's service and expand its user base.
  • New CEO Harry Lin - Lin has executive experience at several consumer-facing media and online businesses, from startups to publicly traded companies. Most recently, Lin was CEO of, a social event discovery tool startup. Prior to that, he was senior vice president and general manager at Lin previously served as vice president at Lin has also held positions at (acquired by The Walt Disney Company),, and at KQED-FM. He has a bachelor's degree from Cornell University and a master's degree from the University of Wisconsin-Madison.
  • PayPal partnership - Lottay has partnered with PayPal to let people send and receive money instantly and securely, with trusted guaranteed transfers and no time lag or exorbitant fees. The partnership also confirms Lottay's position as a pioneering technology company as it is one of the first companies to use the PayPal Adaptive Payments API.

For more information on Lottay, please visit To get breaking Lottay news and additional perspectives, visit and subscribe to Lottay RSS blog feeds at Follow Lottay on Twitter at @GiveGiftsOnline and visit the Facebook fan page at

Additional Resources

Lottay website:

Lottay blog:

Lottay on Twitter: @GiveGiftsOnline

Lottay Facebook fan page:

About Lottay

Lottay™ Inc. makes giving and receiving the gift of money a personal, heartfelt experience. The free, online service uses e-greeting cards, private messages, images and pictures to wrap money in the emotion of the occasion. Gift givers and recipients enjoy the intimacy of a personalized present and the flexibility of money -- all backed up by the safety and security of PayPal. Lottay was founded in 2008 and is headquartered in the greater Los Angeles area. For more information, please visit

Lottay is a trademark of Lottay Inc. Other product and company names are property of their respective owners.

Tags: Lottay, PayPal, GiveGiftsOnline, Cyber Monday, Black Friday, Evite,, gift cards, online shopping