Wrapp: Zennstrom-Backed Startup Reinvents The Gift Card

For the last few years, my sister and I have approached the holidays this way: I bought gift cards for her kids, and she bought gift cards for my kids. And we're hardly alone. U.S. adults on average buy close to five gift cards a year; they are now a more than $100 billion a year business. But the gift card business has fundamental flaws, not the least of which is that they're based around the physical purchase of little plastic cards. Gift cards, in short, are a fundamentally bricks-and-mortar focused business in an e-tailing world.

Source: http://www.forbes.com/sites/ericsavitz/2012/01/02/wrapp-zennstrom-backed-startup-reinvents-the-gift-card/

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