The social gifting service has three components:įirst, people can learn about their friends’ birthdays or other occasions on Facebook, or through notifications on their mobile phones. this quarter, with other markets following. The funding will be used to launch the service in the U.S. “You put those two things together and suddenly you get a much easier way to give.” “The gift card industry has grown to a $100 billion industry, and yet very little innovation has been done around social networks and smartphones,” Hoffman said in an interview. Creandum - along with Atomico, which was founded by Skype co-founder Niklas Zennström - invested in the round last year. Greylock will contribute $5 million to the company’s first round, increasing the total to $10.5 million. The company, which plans to launch soon in the U.S., has created a way for people to easily give gift cards to their friends through social channels such as Facebook.

Stockholm-based Wrapp, which was founded by former executives from Spotify, Groupon and other companies, has just received a $5 million gift from Reid Hoffman of Greylock Partners.

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