Snappy Gifts

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Snappy Gifts
Company typePrivate company
Industry
FoundedAugust 1, 2015 (2015-08-01)[1]
FoundersDvir Cohen
Hani Goldstein
HeadquartersNew York City,
United States
Key people
Hani Goldstein (CEO)
Dvir Cohen (CTO)
Products
  • Snappy platform for corporate gifting
  • Consumer gifting platform
RevenueDecrease US$30 million (2023)
Total assetsIncrease US$104.8 million (2022)
Number of employees
200+ (2023)
Websitesnappy.com

Snappy Gifts is a multinational company based in New York. The company, founded in 2015, provides companies with an online system to offer personalized gifts to their employees. As of October 2022, the company also offers an online gifting platform for individual consumers.[1][2][3][4][5]

History[edit]

Snappy Gifts was founded in 2015 by Dvir Cohen and Hani Goldstein in San Francisco and later moved its headquarters to New York. Initially, the company raised 1.6 million dollars and started off focusing on "personal client gifting" but in 2017 shifted its business model to corporate gifting while offering an enterprise version of its platform.[6][7]

The company, which was established in San Francisco and later moved its headquarters to New York, opened an additional branch in Tel-Aviv.[8]

In 2017, Snappy was included in Retail Accelerator XRC Labs' third cohort of startups.[9]

In late 2018, a company survey detailing the top 25 worst corporate gifts was featured in Business News Daily and Fortune Magazine.[10][11]

By 2019, the company raised an additional 8.5 million dollars in a funding round which was led by 83North and Hearst Ventures.[8][12]

In September 2019, Snappy Gifts was listed in Forbes Magazine's list of "10 Most Promising Young Israeli Startups in New York".[13]

Snappy Gifts partners with many globally-known companies such as Microsoft, Adobe, Comcast and Uber[14] and also with human resources firms such as TriNet, ADP, BambooHR, HR Uncubed, and Crain's Best Places to Work.[15]

In early 2021, Snappy Gifts was ranked in first place in Inc. magazine's list of Top 250 Fastest-Growing Private Companies in the New York Metro Area.[16][17] In May of that year, Snappy Gifts raised another 70 million dollars in a series C funding round.[14]

In August 2021, the company rented out 2,500 meters of office space in the Rubinstein Towers complex on Yitzhak Sadeh Street in Tel-Aviv.[18]

In October 2022, Snappy announced the launch of its consumer platform.[5]

In January 2023, the company announced that it was laying off around 100 of its employees, approximately 30% of its workforce due to "economic shifts and uncertainties" that are also experienced by many other tech companies.[19]

In April 2024, the company announced that it had raised an additional $25 million in a Series D funding round led by Qumra Capital with a company valuation of around $200 million. It was also reported that the company saw 40% growth in 2023 with an annual revenue of $30 million.[20]

The Snappy platform[edit]

The Snappy Gifts system, which is available for both mobile and desktop consumers,[9] provides companies with software for personalized gifting based on employee data such as age, gender, location and can also be synced to allow for gift recommendations based on time-specific events such as birthday celebrations and work anniversaries. Gifts are sent via mobile text message or email. The recipient gets a "virtual scratch card" which reveals to them the gift which their employer has pre-chosen for them. The employee then has the option to accept it or swap it, while the employer later receives an email with the purchase request. Snappy Gifts are sourced through retailers and brands such as Amazon, Birchbox, Cloud9Living and Best Buy. The system is also designed with a "thank you" note feature, which allows managers to see the immediate impact on their employees.[15][21][22]

References[edit]

  1. ^ a b BROWN, MARTIN (28 May 2019). "Meet Snappy Gifts: The Company That Raised $10MM To Revolutionize Employee Gifting". Naperville Sun. Retrieved 2 July 2019.
  2. ^ Nelson, Bob (24 October 2018). "Why Employee Recognition Needs to Be Fun". Incentive Magazine. Retrieved 4 July 2019.
  3. ^ Pick, Adi (23 October 2018). "Employee Recognition and Incentive Startup Snappy Closes $10 Million Funding Round". Calcalist. Retrieved 4 July 2019.
  4. ^ Goichman, Rafaela (1 August 2020). "Everyone And Their Gift: Snappy Taking Over Corporate Holiday Gifting". TheMarker (in Hebrew). Retrieved 6 August 2020.
  5. ^ a b "Snappy, the Award-Winning Company Known for Reimagining Workplace Gifting, Launches Consumer Platform". Yahoo! Finance. 25 October 2022. Retrieved 26 October 2022.
  6. ^ "Meet Snappy". Ynet (in Hebrew). 13 October 2017. Retrieved 2 July 2019.
  7. ^ HINCHLIFFE, TIM (9 February 2015). "Lightning Pitch: Snappy Gifts making present purchasing better for everyone". Startup Beat. Retrieved 2 July 2019.
  8. ^ a b Constine, Josh (22 November 2016). "Don't know what they want? Give a pre-swappable Snappy Gift". Tech Crunch. Retrieved 2 July 2019.
  9. ^ a b Alpaio, Kelsey (12 April 2017). "Retail Accelerator XRC Labs Spotlights Startups and Industry Shifts". Innovation Leader. Archived from the original on 4 July 2019. Retrieved 4 July 2019.
  10. ^ Sammi, Caramela (29 November 2018). "25 Worst Corporate Gifts". Business News Daily. Archived from the original on 2 July 2019. Retrieved 2 July 2019.
  11. ^ King, Rachel (19 December 2018). "These Are Some of the Worst and Most Outrageous Gifts Employees Say They Have Received". Fortune Magazine. Retrieved 16 July 2019.
  12. ^ "Israeli corporate gift co Snappy raises $10m". Globes. 23 October 2018. Retrieved 2 July 2019.
  13. ^ Oron, Noa (9 September 2019). "Forbes 10 Under $30M: The Most Promising Young Israeli Startups in New York". Forbes Magazine. Retrieved 10 September 2019.
  14. ^ a b Orbach, Meir (26 May 2021). "Gifting platform Snappy raises $70 million series C". Calcalist. Retrieved 26 May 2021.
  15. ^ a b Snappy Gifts' Employee Happiness Survey Reveals More than 30% of People Feel Undervalued at Work Ahead of National Employee Appreciation Day
  16. ^ "Inc. 5000 Regionals: New York 2021 The Top 250 Fastest-Growing Private Companies in the New York Metro Area". Inc. Magazine. 2021. Retrieved 17 March 2021.
  17. ^ RYAN, KEVIN J. (March 2021). "How Snappy Makes Corporate Gifts More Personal". Inc. Magazine. Retrieved 17 March 2021.
  18. ^ "New York firm Snappy expands Tel Aviv operations". The Jerusalem Post. 24 August 2021. Retrieved 20 July 2023.
  19. ^ Orbach, Meir (15 January 2023). "Gifting platform Snappy sacking 30% of its workforce, around 100 employees". Calcalist. Retrieved 9 February 2023.
  20. ^ Gilead, Assaf (15 April 2024). "Gift platform Snappy raises $25m as valuation halved". Globes. Retrieved 21 April 2024.
  21. ^ "What if companies let employees pick their holiday gifts? Well … they can". TheLadders.com. 16 November 2018. Retrieved 2 July 2019.
  22. ^ LACEK, PAIGE (9 December 2016). "New Launch of the Present Giving App Snappy Gifts". Bad Rhino. Retrieved 4 July 2019.

External links[edit]

Wikimedia Commons has media related to Snappy Gifts.
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