Wrapp Through Facebook Expands

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Wrapp, in case you haven't heard of it, is a social gifting service that allows users of Facebook to effortlessly send gift cards to friends. After receiving 5.5 million in funding last November, Wrapp announced today that it has raised another 5 million in funding to go forward with expansion in the U.S. and U.K.

Led by Greylock Partners and VC firm, Atomico, the Swedish based company sent over 250,000 cards in December alone and continues to grow by 30% every week. Wrapp currently has around 30 major retailers participating in its' services with many more smaller retailers also involved. CEO and co-founder Hjalmar Winbladh reports that Wrapp is growing so fast that they are running out of retail campaigns.

Wrapp connects users to their Facebook site where they are alerted to upcoming birthdays and events for friends and allows them to send gifts electronically. The gifts appear on the recipients accounts "wrapped" until the day of the event and then they are revealed.

Reportedly, The most active users of the site are women between the ages of 22 and 35. This a huge portion of the shopping demographic. Wrapped's future campaigns will focus on large nationwide retailers, and small specialty shops alike

[Source: VentureBeat]