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Social gifting startup DropGifts receives financial backing of Deutsche Telekom VC firm, T-Venture

The German social gifting company DropGifts receives a seven-figure Euro sum from T-Venture. DropGifts is heavily investing in the development of its product range and recently revamped its product offering.

 
PRLog - Jul. 19, 2012 - London, July 19, 2012 – T-Venture, the venture capital company of the Deutsche Telekom AG,  has invested a seven-figure Euro sum in the Berlin-based social gifting startup, DropGifts.

Founded in February, DropGifts is a worldwide leader in web and mobile Facebook-based gift exchange . The startup stands to benefit greatly from the financial support and international reach of Telekom’s mobile network: “We are very pleased to enter into a partnership with such an innovative international corporation. The DropGifts team is convinced that, with the support of Deutsche Telekom, we will grow even faster and offer a more comprehensive service to our users,” said Adrian Renner, Co-founder and Managing Director at DropGifts.

DropGifts gives Facebook friends the opportunity to send each other free and paid gift cards. DropGifts users create virtual greeting cards with a photo and a personal note to send alongside thier chosen gift. Gifts are then posted to the Facebook wall of the recipient. DropGifts users can choose from a wide range of gift cards and products from well-known brands.

With its portfolio of innovative companies and its strategic venture capital approach, T-Venture ensures that Deutsche Telekom remains at the cutting edge of technology. “DropGifts closes  the gap between traditional commerce and social networks. It adds to Deutsche Telekom’s offerings in the mobile commerce sector. The  business model of social gifting gives users of social media the opportunity to maintain friendships in a completely new way. DropGifts’  ambitious and dedicated team of founders make us certain that the company has excellent growth prospects,“ said Thomas Vogel, Senior Investment Manager at T-Venture.

About DropGifts
DropGifts was founded In February 2012 by Dr. Andreas Fruth, Uwe Gleitz, Dr. Adrian Renner and Dr. Gerhard Trautmann. It rapidly became the world’s largest social gifting community, with subsidiaries in the Unites States, United Kingdom, France, Netherlands, Spain, Italy, Norway, Finland, Denmark, Argentina and Brazil. DropGifts recently launched a greatly enhanced product that features a new design and personalization features such as photo uploading.

Media contact:
Please find additional information on http://www.dropgifts.co.uk and http://www.facebook.com/DropGifts

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