Posts tagged with Wrapp

Facebook buys gifting app Karma as mobile spree continues

A failure to properly monetise its mobile platform has always been Facebook’s Achilles heel, so it’s no surprise that it has just acquired another mobile-based company.

Social gifting app Karma has become Facebook’s fifth mobile buyout so far this year, though the news was somewhat overshadowed by Friday's IPO.

It follows the acquisitions of mobile companies Instagram, Lightbox, Tagtile and Glancee.

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Clas Ohlson uses Facebook app Wrapp for brand revamp

Social gifting app Wrapp launched in the UK last month after achieving early success among users and retailers in its native Sweden.

The Facebook app allows users to send each other digital gift cards, some of which are provided free of charge by brands as a customer acquisition tool.

Retailer Clas Ohlson was one of the brands that signed-up to tout its wares via the app in Sweden, offering users a range of free and paid-for gift cards.

In total users have sent 108,000 Clas Ohlson gift cards, of which 16,000 have been redeemed.

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Social gifting app Wrapp launches in UK

Social gifting app Wrapp launches in the UK today, allowing users to send digital gift cards through Facebook.

The service is extremely popular in its home country of Sweden, and is now expanding into other markets to prempt similar moves by copycat apps.

The company's founders, which include veterans of Spotify and Groupon, are aware that Germany’s Samwer brothers are currently trying to copy Wrapp’s business model - so rapid expansion is now on the cards. 

The UK has been highlighted as a prime target since its gift cards industry is worth over £4.5bn.

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