The fact that this holiday season saw the company Wrapp having a million of its gifts sent per week shows that freebies are something that is enjoyed by the people at large. A platform where users can send digital gifts and cards both free and paid to friends, the company has within the past fourteen months grown its user base to a million. The end of December saw gift redemptions of 1,00,000 per week for the company.
With over 7.4 million gifts given till today, the company compares itself to other similar companies like Pinterest, Twitter, Gift Groupe, Kickstarter and Airnb. Over a half of Wrapps one million are those based in the U.S. These are in fact active users having downloaded the app and having used the company’s service in sending at least one gift to a friend. Most of the average Wrapp users are women between the ages of 20 to 35 and have used the service in downloading not just one but at least five gifts to friends.
However, though it compares itself to other similar companies there is a main difference between this company and the rest and this lies in the fact that Wrapp’s focus is more on the gifting aspect than the social.
The company’s biggest competitor is Karma , a company that Facebook just acquired a month ago. In fact, the company had been acquired immediately after Wrapp had entered the market in the U.S.
The existence of other competitors like Giftly can also be counted but it will not make a worthwhile comparison because of its newness on the scene. Also these various gifting startups that we compared with Wrapp are harder to come by because of the fact that their user numbers are not publicly shared at this point.
Wrapp on the other hand is “so easy and most importantly not a scam,” says an unknown writer, as reported by techcrunch.com.
Its free sponsored gifts can well benefit its users. The company has currently raised a $10.5 million. Investors here include Greylock Partners, Atomico, Credium and others