Gift-giving solutions company Jifiti said that it raised US $2.5 million in seed capital from Simon Property Group, Jesselson Capital and Schottenstein Stores Corp.
Jifiti is a company that seeks to revolutionize the gift-giving process. According to its company statement, the system it developed has eliminated the inconvenience of gift-giving. They take care of the wrapping and shipping woes of the consumers by devising a way for customers to choose in-store and allowing Jifiti to do the rest.
The technology works much like a gift-card where consumers choose an item, purchase it then scan for Jifiti to send a notification to the recipient. The recipient then claims the item at his convenience from any of the participating merchants.
To date, the system has already been pilot-tested in three shopping malls owned by Simon Property.
The statement said that the founders discovered an opportunity to bring back the fun in gift-giving. It will also reduce instance of re-gifting if the recipient does not really want the item but too embarrassed to say no.
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