Wrapp lands $5.5M for awesome social gifting

After gifting a card to a friend, other friends can see the card on the recipient’s Facebook account and chip in additional funds. The gift card remains “wrapped” on the recipients Facebook page until the day of their birthday, which adds a nice bit of mystery to a traditionally boring gift card transaction. Wrapp’s cards can only be redeemed using its iOS or iPhone app

Wrapp was co-founded by founding Spotify CTO Andreas Ehn and Hjalmar Winbladh, founding CEO of the VoIP (Voice over Internet Protocol) company Rebtel. "We were intrigued by the concept that gift giving is much nicer than gift buying," Winbladh told VentureBeat in an interview months ago. "This is not discounting or daily deals. This is turbo-charged gift giving."

Devindra Hardawar is VentureBeat's East Coast Senior Editor and lead mobile writer. He studied philosophy at Amherst College, worked in IT support for several years, and has been writing about innovation since 2004. He now lives in Brooklyn, New York. You can reach him at devindra@venturebeat.com, and on Twitter at @Devindra.