Eric Schmidt Funds Mobile Voucher Gifting Company

Beyond just connecting us through voice and text, our mobile phone numbers are quickly becoming our identities and our wallets. Now they can also receive physical gifts! Well, kind of — Giiv, a Los Angeles-based year-old startup, allows users to send each other virtual gift cards to stores like Amazon, Macy’s and Krispy Kreme. The gift vouchers arrive in the form of a text message with a code that can be used in person or online.

Giiv said today it’s raised $3.35 million in a Series A round from Google CEO Eric Schmidt’s TomorrowVentures (Schmidt was also reportedly an angel investor in the company), Saban Ventures, Founder Collective and SK Telecom Ventures.

The quirkiest thing about this company, and a reflection of the limitations of gifting-via-text? After the coupon code and other preset message text, users only get 20 total characters to add a personal message to the recipient. Better be pithy!


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