CardCash is an American company headquartered in

Brick, New Jersey Brick Township is a township situated on the Jersey Shore within Ocean County, in the U.S. state of New Jersey. As of the 2020 United States census, the city retained its position as the state's 13th-most-populous municipality,

, that operates an online

gift card A gift card, also known as a gift certificate in North America, or gift voucher or gift token in the UK, is a prepaid stored-value card, stored-value money card, usually issued by a retailer or bank, to be used as an alternative to cash for pu ...

marketplace where users can buy and sell discounted gift cards. It was co-founded in 2009 by CEO Elliot Bohm and COO Marc Ackerman. In January 2024, it was announced that its acquisition had been completed by RDE (now Giftify), an American company that operates the website Restaurant.com.

History

CardCash was created by Bohm and Ackerman after one holiday season when they were left with several unused gift cards, much like other consumers. In fact, a 2008

Consumer Reports Consumer Reports (CR), formerly Consumers Union (CU), is an American nonprofit consumer organization dedicated to independent product testing, investigative journalism, consumer-oriented research, public education, and consumer advocacy. Founded ...

survey found that a quarter of gift card recipients do not use the cards within a year and eventually lose them. Before creating CardCash, Bohm made a living reselling discounted

electronic devices Electronics is a scientific and engineering discipline that studies and applies the principles of physics to design, create, and operate devices that manipulate electrons and other electrically charged particles. It is a subfield of physics and ...

and Ackerman worked in the real estate industry in Brooklyn. Their experiences with markets, price fluctuations and price algorithm technology have been invaluable since the company was founded in 2009. From its humble origins, the company grew over the years to being cited in

Forbes ''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...

magazine, and in Inc.’s list of the fastest growing private companies in America. Eight months after raising $6 million in equity funding from

Guggenheim Partners Guggenheim Partners, Inc is a global investment and advisory financial services firm that engages in investment banking, asset management, capital markets services, and insurance services. Guggenheim has c. 2,000 employees. The firm has offices ...

, the firm acquired its

Silicon Valley Silicon Valley is a region in Northern California that is a global center for high technology and innovation. Located in the southern part of the San Francisco Bay Area, it corresponds roughly to the geographical area of the Santa Clara Valley ...

competitor Plastic Jungle in July 2014. Through this acquisition, CardCash now owns Plastic Jungle's technology infrastructure, business partnerships and domain name, PlasticJungle.com. In October 2014, CardCash entered into a strategic partnership with Incomm Corporation. The relationship will allow CardCash to integrate its online gift card exchange with thousands of InComm's retail partner locations across the country CardCash has also signed deals with CVS,

United Airlines United Airlines, Inc. is a Major airlines of the United States, major airline in the United States headquartered in Chicago, Chicago, Illinois that operates an extensive domestic and international route network across the United States and six ...

and

Walmart Walmart Inc. (; formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores in the United States and 23 other ...

Recognition

CardCash has been cited by multiple media outlets including

, Inc.

ABC ABC are the first three letters of the Latin script. ABC or abc may also refer to: Arts, entertainment and media Broadcasting * Aliw Broadcasting Corporation, Philippine broadcast company * American Broadcasting Company, a commercial American ...

, and

Orlando Sentinel The ''Orlando Sentinel'' is the primary newspaper of Orlando, Florida, and the Central Florida region, in the United States. It was founded in 1876 and is currently owned by Tribune Publishing Company. The ''Orlando Sentinel'' is owned by pare ...

. It has been included on Forbes' list of America's Most Promising Companies for 2014 and also featured twice in

and Inc. In 2014, CardCash was included in the list of “Top Consumer Products & Services Companies” category and “Top Companies in New Jersey on the 2014 Inc. 5000”. In 2014, CEO Elliot Bohm was recognized as one “America's Most Promising CEOs Under 35.”

References

External links

* {{Official website, https://www.cardcash.com
The Gift-Card Economy (New York Times, Stephen J. Dubner and Steven D. Levitt, January 2007)
2009 establishments in New Jersey Companies based in New Jersey Online retailers of the United States 2024 mergers and acquisitions

History

Recognition

See also

References

External links