Private Equity Firm Acquires FriendgiftrFriday, April 13, 2012
Friendgiftr, the Los Angeles online service that allows users to send gift cards to friends and family, has been acquired by an Alaskan private equity firm, the company said Friday.
Friendgiftr is considered a pioneer in marketing virtual pre-paid cards through the social web. The company, backed by angel investors, was acquired by Aurora Borealis Investments of Anchorage.
Financial terms were not disclosed.
"This is huge," said Chief Executive Rob Carpenter, who founded the company but will leaving. "Since our launch, we have been working to create innovative virtual solutions for the pre-paid economy, and this acquisition is validation of that. It's definitely exciting."