1. Akshay Masand's Avatar


    The website that allows consumers to buy and sell gift cards, Raise.com, recently introduced a new Passbook-like app for the iOS platform. The app allows shoppers to access on-the-spot savings at over 750 stores. It also allows consumers to quickly and easily trade gift cards from their mobile device. Users are able to sell gift cards that they own in exchange for cash or credit towards another gift card. Furthermore, users can also search for a discounted gift card specific to the store they intend to purchase from, giving them the on-the-spot savings. Shoppers will then be able to use the gift card via a barcode displayed on the device’s screen.

    If you download and try the new app, everything may seem a bit familiar, that’s because it features an interface very similar to that of Passbook in iOS. It gives a view of all of the gift cards you own or are selling at a quick glance. Users are given the option to tap on a gift card to bring up a barcode to use it at point-of-sale. To gain access to the marketplace, users are required to sign up either at Raise.com or in the app and then confirm their mobile number. Following these steps gives users immediate access to the buying and selling functions.

    According to Raise, they have become “the largest online marketplace for gift cards” after receiving a $25 million investment in the company. Of that $25 million investment, $18 million came from Bessemer Venture Partners who have previously helped fund companies such as Yelp and LinkedIn. The company’s founder and CEO, George Bousis said that the company had grown over 500% since last year, taking on 94 employees in the time, now totaling 107. Raise expects to save consumers roughly $10 million during the upcoming holiday season with its portfolio of giftcards.

    Will you be trying the new app/service?

    Source: iTunes via AppleInsider

    Twitter: @AkshayMasand
    2014-11-14 07:50 PM
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