Angel.co Profile – Gift Rocket

https://angel.co/gift-rocket

http://www.giftrocket.com/

Product

Gift Rocket is an online gift card giving service.  The gift card purchaser is given the option to deliver an online or physical gift card for any occasion.  In doing so, the purchaser suggests how/where the receiver can spend the gift card money.  The receiver then can redeem the card to a bank account, Paypal, credit card, physical check, etc., but is not obligated to use the money as the purchaser has suggested – they can use it however they’d like.  There is a fee to use the service driven by payment instrument funding the card and gift size.

Market Type

The market type encompasses those who give gifts – so anyone could the service.  That said, this particular service caters to gift givers who prefer the ubiquity of cash with a preferred intention (or use) in mind.  This implies that the two parties involved (giver, receiver) are friends or acquaintances at the very least.

Customer and Problem

The customer for the service are those who give gifts and want to have an intended use for the money but would also like the receiver to have some flexibility in using the gift card.  In suggesting how to use the card, the receiver can reasonably see that the giver has put some thought into the gift and has tried to pair the money with an activity or brand that the receiver enjoys.

Competition

Physical gifts, traditional gift cards given in person (or mailed, accompanied by a personalized note), other online gift service providers (e.g. giftly.com).  Other options may carry lower fees (or none at all), creating natural on price.

Pain Killer or Gain Creator

This service is a Pain Killer.  Many people agonize over gift giving – there’s a certain pressure accompanied with buying physical gifts for others, only to have misjudged the gift receiver forcing a hassling product return.  Gift Rocket extends the well-intentioned thought behind the gift to the receiver but without the pain of gift misjudgment.  If the match is a good one, great; the receiver uses the card as suggested.  If not, no hassling return!  Just simply repurpose the money received into a more suitable gift.

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