"Whip" group

Business ID

Venture Company: Wrapp

Place of establishment: Sweden

Establishment Date: 2011

Founder: Hjalmarwinbladh

Financing Records:

In November 2011, in a round of financing raised 5.5 million U.S. dollars, Skype co-founder Niclas Zentrom set up Atomico Venture Company, Creandum also participated in the round of financing.

You could say that Wrapp is a platform for online merchants to expand prepaid card sales channels, but it's not just that simple. Wrapp with the user Facebook friend record to get viral spread, and it sells prepaid card is used "Whip" group purchase form, founder Winbladh Hope Wrapp can change the disadvantage of group buying mode.

Whip Gifts

Wrapp's idea may give new insights to offline merchants and prepaid card companies.

It is an application developed by the social gifts Company, which was founded in Sweden last year. When Wrapp entered the U.S. market last week, it established partnerships with a number of big retailers, including Gap and silk orchid. Previously, Wrapp has been online in Sweden, Britain and Norway.

In other words, Wrapp's function is to let users whip to a friend or charity to send gift cards. Wrapp co-founder Hjalmarwinbladh said the idea of motivating the team to create the application was "to give a gift better than to buy a gift". Winbladh explains that Wrapp is not a consumer coupon app related to gift cards, but a social-driven gift app because users need to associate their Facebook accounts to give gift cards to friends with Wrapp.

The specific process is this, the user through the Facebook account login Wrapp,wrapp from the user's Facebook account in the record of friends birthdays or celebrations to push to the user, at this time the user can select a gift card to the friend, and then in the application provided by the list of gifts to select the right gift card , and fill in the gift card will be sent to friends with the message. Finally, fill in the gift time and complete the payment.

In the gift of time before, the recipient of a friend is not aware of this surprise, Wrapp until the day of the friend's birthday to send push notice to tell each other. When a friend receives a gift card, he or she can go to the shop where the gift card is assigned and buy his or her favorite gift.

Wrapp's idea is not to the online sales prepaid card is over, its most unique place is the "buy-style" gift way. While the recipient's friends don't know the surprise you've concocted, when other friends are browsing the Wrapp, there will be details of the stored gift card that the friend is about to receive. If other friends want to give the same gift card, you can choose to continue adding the amount to the stored gift card. The available consumption amount for the gift card received by your buddy will be the sum of all the friends added.

This is similar to the group buying model, allowing multiple people to participate in a paid action, except that the object becomes a gift card from the product. Winbladh is very optimistic about the interactive form of many people involved in the gift, he believes that the mutual benefit of friends gifts will make users happy to use Wrapp to give gift cards, but also for Wrapp's cooperative store brought a stable customer base.

Transform the "buy"

Take Wrapp in Sweden market for example, the cooperation merchant includes the national biggest sports equipment retailer Stadium, the famous underwear brand bjornborg, the street trend brand WESC and the hardware daily necessities chain group Clasohlson and so on. Many of these cards are free, and retailers can specify what kind of people they are available to (for example, 18 to 24 years old in Chicago).

Wrapp, the interactive vice president of Bridgetdolan, a partner, said: "Many people would have intended to give gifts, but often did not do so, because they do not have time, or simply forget." "With Wrapp, you can act, because it's so easy." It is the perfect gift to shout "oops" pleasantly. ”

Winbladh said that Wrapp, like Groupon, would let netizens walk into physical stores. However, he said, users would not link this shopping experience to buying discounts, which would only damage the brand's reputation, instead, they thought it was a carefully chosen gift from a friend. When Wrapp users post gifts on Facebook, or join groups that sponsor a gift, or "praise" their friends ' gifts, the brand actually gets a free advertising spread.

As Wrapp's chief executive, Winbladh said: "From a retailer's point of view, we can send the right customers to the store and help boost sales." "The traditional group purchase mode, as long as the business is in Groupon to issue a group purchase discount, they are swarmed, with sufficient low price discount, and then gone forever." Groupon would have expected these customers to become repeat customers, thus attracting businesses to become Groupon's clients, but what about the so-called win-win model? And Wrapp is the new model that Winbladh wants to solve the drawbacks of Groupon.

At present, Wrapp has 165,000 active users, they have sent more than 1.4 million cards. On average, the retailer achieves more than four times times the value of the gift card.

Given the size and growth of the US gift card market only during Christmas 2011, Americans have sent more than 30 billion dollars worth of cards, and it's not hard to see why Winbladh is so bullish about the prospect of Wrapp landing in the United States. "We are in 100% with the retailer. "Winbladh said.