 T-Venture Invests in Social Gifting Startup DropGiftsThe German social gifting company DropGifts receives a seven-figure Euro sum from T-Venture. DropGifts is heavily investing in development and recently revamped its product offering.
By: DropGifts USA 
DropGifts receives financial backing of T-Venture 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 Deutsche 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. Gifts are posted to the Facebook wall of the recipient. DropGifts users can choose from a range of gift cards and products from well-known brands. With its portfolio of innovative companies, T-Venture and its strategic venture capital approach 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 perspectives,“ 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. About T-Venture: T-Venture Holding GmbH was founded in 1997 as a wholly owned subsidiary of Deutsche Telekom AG. It has since then invested in young companies that demonstrate economic and technological synergies with the Deutsche Telekom business units as well as above average growth potential. Its head office is in Bonn. It is supported and complemented in its activities by T-Venture of America, Inc. in San Francisco and Seattle. Investment activities focus on Europe, the United States and Asia. Press Contact: Sarah Maryam Moosvi Co-founder, DropGifts USA http://www.dropgifts.com Photo: https://www.prlog.org/ End
Page Updated Last on: Jul 26, 2012
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