SmartGift

SmartGift operates a B2B e-commerce and data platform focused on corporate and consumer gifting. The company was founded in 2014 by Monika Kochhar and Bernd Strenitz. Kochhar, the company's CEO, drew inspiration for the venture from a personal experience where she struggled to send a timely and appropriate gift to a friend celebrating a Ph.D. achievement across the country. This highlighted a gap in the market for a more intelligent and streamlined digital gifting process. Her background in finance, specifically in derivatives trading at firms like JP Morgan and Goldman Sachs, combined with her experience in startups related to music, payments, and commerce, provided a foundation for tackling complex problems in the e-commerce space.

The company's core offering is a patented technology platform that serves two primary functions. Firstly, it powers a new checkout flow for retailers' websites, allowing customers to send gifts digitally via text, email, or social media without needing the recipient's physical address. Secondly, it operates as a corporate gifting platform, enabling businesses to engage with employees, clients, and partners. The platform leverages AI and real-time data to assist in gift selection and allows recipients to digitally unwrap their present, where they can customize options like size and color or even swap the item for another of equivalent value before it ships. This process aims to reduce returns and enhance the overall experience for both the giver and receiver.

SmartGift's business model generates revenue by providing this technology as a service to its clients, which include major retail brands and corporations. The company counts brands like 1-800-Flowers, Pandora, bareMinerals, and VF Corporation among its partners. In May 2023, demonstrating a significant milestone, SmartGift was acquired by 1-800-FLOWERS.COM, Inc. to expand the latter's corporate gifting and engagement solutions. Following the acquisition, Bernd Strenitz joined 1-800-FLOWERS.COM, Inc. as Vice President of SmartGift.

Keywords: corporate gifting, employee recognition, e-commerce platform, digital gifting, gift technology, client engagement, B2B gifting, personalized gifting, retail technology, gift returns, AI-powered gifting, address-less gifting, employee rewards, customer engagement, gift management, brand engagement, recipient choice, sustainable gifting, fintech, e-commerce innovation, corporate rewards programs, digital checkout, gift data analytics, HR solutions