by Deanna Ting | June 17, 2013
Proof that more and more consumers are gifting digital gift cards, and that social networking is a powerful tool for connection is the rapid growth of Wrapp, a company that allows Facebook friends to send digital gift cards to one another. It recently raised $15 million from investors. That $15 million go toward developing the mobile app's new brand pages, whereby users can follow particular brands to receive special incentives for themselves as well.

Since Stockholm-based Wrapp launched in November 2011, more than 15 million digital gift cards have been sent through its mobile platform, which connects to Facebook. It started in Sweden and expanded to the U.S. in May 2012. During the most recent holiday season, it delivered one million digital gift cards in a week.

Niklas Zennström, general partner at Atomico and Wrapp board member, said in a statement, “Wrapp is targeting a huge market using social networks and smartphones -- two massive shifts that are changing forever how we communicate, shop and celebrate the people we care about -- and it’s getting bigger every day. I believe the next 12 months will be a break-out period for Wrapp and its friend-to-friend marketing platform.”