TechWeb

Friendgiftr Successfully Acquired by Private Equity Firm Aurora Borealis Investments

Apr 13, 2012 (02:04 PM EDT)
URL: http://www.techweb.com/show-press-release/X898529/friendgiftr-successfully-acquired-by-private-equity-firm-aurora-borealis-investments.html

LOS ANGELES, April 13, 2012 /PRNewswire/ -- Friendgiftr, an e-commerce trailblazer providing virtual pre-paid cards through the social web, has announced today that it has agreed to be acquired by private equity firm Aurora Borealis Investments. The terms of the deal are undisclosed.

"This is huge," said Rob Carpenter, Founder and CEO of Friendgiftr. "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."

Friendgiftr is the first company to have commercialized social media with multiple major merchant brands by providing e-commerce storefronts, mobile storefronts and unique partnerships with digital content providers, among others. It has partnered with companies ranging from groundbreaking startups to Fortune 500 businesses, and its technologies and business methods have been replicated by some of the most successful companies in the world.

"Taking a startup from an idea on a sheet of paper to being acquired is almost an unreal experience, and I feel fortunate to have had that opportunity," said Rob Carpenter.

Carpenter, who is also a successful social and political entrepreneur, will move on to new opportunities ahead.

About Friendgiftr
Friendgiftr is the premier virtual pre-paid card company, having been the first to commercialize social media sites, mobile phones and other innovative shopping platforms. Friendgiftr has won the prestigious Henry Kravis Award grand prize in venture capital and entrepreneurship, been named one of the "best websites on the Internet" by PC Magazine and an "Emerging Technology Company of the Year" by TechAmerica. 

SOURCE Friendgiftr