AskMyGift
Online retailer that sells gift themed products.
| Date | Investors | Amount | Round |
|---|---|---|---|
$40.0k | Angel | ||
| Total Funding | 000k | ||
AskMyGift, operating under the legal entity Futuregifting Eventures Pvt Ltd, was established in 2015 by founders Sumeet Aggarwal and Shagun Nayyar. The venture was conceived to address the common issue of receiving unwanted or irrelevant gifts, a problem highlighted by a survey indicating that 78% of respondents had faced this situation. Aggarwal's prior experience at Tata Consultancy Services provided a solid foundation for launching this technology-driven solution.
The company operates within the substantial personal gifting market in India, which was estimated to be around $20 billion at the time of the company's launch. AskMyGift functions as a mobile-first platform that enables users to create a unified gift registry or wishlist. This list can be populated with desired items from both online e-commerce giants like Flipkart and Amazon, and offline, brick-and-mortar stores. For offline items, users can take a picture of the product, input the details, and tag the specific store. The platform's core service is a mobile application that allows users to seamlessly share their wishlists with friends and family via social networks and messaging apps like Whatsapp, ensuring they receive gifts they truly want.
The business model targets both individual users and retailers. For users, it simplifies the gifting process, removing the guesswork for gift-givers and preventing the disappointment of receiving unsuitable presents. For retailers, particularly offline stores, AskMyGift provides an avenue to gain an online presence and connect with potential customers. The platform aimed to facilitate the entire transaction, including enabling stores to deliver gifts directly to the recipient and allowing for in-app payments. In October 2015, the Noida-based startup secured approximately $50,000 in an angel funding round led by the early-stage fund Turning Ideas to expand its partnerships with physical stores in the Delhi-NCR region and bolster its marketing efforts.
Keywords: gift registry, wishlist app, personal gifting, social gifting, e-commerce, offline retail, mobile gifting, Futuregifting Eventures, Sumeet Aggarwal, Shagun Nayyar, online to offline, gift ideas, gift sharing, India gifting market, angel funding, Turning Ideas, gift delivery, unified wishlist, mobile commerce, retail technology