SOURCE: Wrapp

Wrapp

February 21, 2013 09:00 ET

Wrapp Users Redeem Over 1 Million Digital Gift Cards

Social Gifting App Accelerates on Heels of Successful 2012 Holiday Season

SAN FRANCISCO, CA--(Marketwire - Feb 21, 2013) - Wrapp, the mobile gifting app that lets you celebrate the people in your social graph with free and paid digital gift cards, today announced that its users have now redeemed over 1 million gift cards from more than 200 popular national and multinational retailers and brands.

"When we say Wrapp makes gift giving fun and easy, we're not blowing smoke," said Hjalmar Winbladh, Wrapp's CEO. "Consumers love the convenience of being able to use their phone to give gift cards, and they especially like that the gift cards are stored in their phone, so they always have them in their pocket when they're ready to buy something. As for retailers and brands -- we believe we offer the most cost effective brand-building service available as they increasingly transition marketing for a more mobile, and social network-driven world."

For consumers, Wrapp is the easiest way to give, receive and redeem free and paid digital gift cards using mobile devices or the Web, and makes group gifting a snap. For retailers and brands, Wrapp is a friend-to-friend marketing platform for targeted, performance-based customer acquisition and retention campaigns.

The news that consumers have used Wrapp to redeem over 1 million digital gift cards comes just 30 days after the company reported it reached 1 million users, which happened only 14 months following start of service in Sweden and expansion to the U.S. last May.

Wrapp's big growth spurt began in November and December as the company started aggressively adding at least one, and often two new retail partners per day in the weeks leading up to Christmas. 

As a result, Wrapp saw use of its Apple and Android app skyrocket and, as predicted, has seen redemptions accelerate in 2013 as recipients cashed in their holiday gift cards. Ninety percent of Wrapp usage is on smartphones.

New retail partner momentum and success continued this month. In Sweden Wrapp added Lindex, a leading Northern European fashion chain. During the first two days of its campaign Wrapp users sent more than 90,000 Lindex gifts to their friends, reaching 4 percent of the total addressable market.

Lindex said it was impressed by how quickly Wrapp was able to drive in-store purchases and that it could not think of another media channel that would allow them to reach so many of the company's core target customers in just two days -- especially in a non-intrusive and genuine way through their friends -- and only paying for actual sales delivered.

Similarly, in February Wrapp completed a four-month campaign with one of the largest health and fitness club chains in Sweden, generating new memberships equal to four percent of annual sales.

In addition to Sweden and the U.S. -- which is now Wrapp's largest market in terms of users and gift cards given and redeemed -- the social gifting service also currently operates in the U.K., Germany, Netherlands, Finland, Norway and Australia. 

To start sending free and paid gift cards to friends and family, download the Wrapp mobile app from Apple's App Store or Google Play, or use Wrapp's web app at www.wrapp.com.

About Wrapp
Wrapp is a social gifting app that connects friends with retailers and brands they love. For consumers, Wrapp is the easiest way to give, receive and redeem free and paid gift cards using mobile devices or the Web, and makes group gifting a snap. For retailers and brands, Wrapp is a friend-to-friend marketing platform for targeted, performance-based customer acquisition and retention campaigns. Founded in 2011, Wrapp is based in San Francisco and Stockholm and San Francisco. Make gift giving a rewarding experience at www.wrapp.com.

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