Major retailers such as Best Buy, Gap Inc. and Starbucks are all lining up to team up with Wrapp, a brand new social gifting service. A Swedish company made up of former executives from Spotify and Groupon, Wrapp is an app that allows Facebook friends to buy each other gift cards from participating retailers. Commonly valued at $5 to $15, the gift cards can be bought individually or in a group. Retailers are betting that the app will lure customers into their stores and once inside, they will end up spending more than the gift card’s value.
Hjalmar Winbladh, Wrapp’s …read more