CardCash is an American company headquartered in
Brick, New Jersey that operates an online
gift card marketplace where users can buy and sell discounted gift cards. The company was co-founded in 2009 by CEO Elliot Bohm and COO Marc Ackerman.
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 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, CardCash grew over the years to being cited in
Forbes magazine,
and in
Inc.’s list of the fastest growing private companies in America.
CardCash raised $6 million in equity funding from Guggenheim Partners in November 2013.
In July 2014, it acquired its competitor Plastic Jungle based in
Silicon Valley. 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
CVS may refer to:
Organizations
* CVS Health, a US pharmacy chain
** CVS Pharmacy
** CVS Caremark, a prescription benefit management subsidiary
* Council for Voluntary Service, England
* Cable Video Store, former US pay-per-view service
* CVS F ...
,
United Airlines and
Walmart.
Recognition
CardCash has been cited by multiple media outlets including
Forbes,
, and
Orlando Sentinel. CardCash has been included on Forbes' list of America's Most Promising Companies for 2014 and also featured twice in
Forbes 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.”
See also
*
Rebate card
A rebate card is a debit card that provides funds promised by a business as a rebate. They are often offered to those who make a specific purchase, or for loyalty to a company by accumulating a certain amount of money or number of points worth o ...
*
Gift card
References
{{Reflist
External links
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