Yiftee, a gifting service that aims to drive business to local merchants, has raised $850,000 in seed funding from Scott Cook, Mohr Davidow Ventures, and other angel investors. Similar to other gifting apps, Yiftee allows you to give gifts to friends via a mobile app. However, all gifts on the platform are from local businesses. For example, you could gift your friend a glass of wine, manicure, or lunch at a local merchant. To send a gift, the consumer fires up the Yiftee iPhone app or website, chooses a friend and their location, and Yiftee will present gifts from featured merchants in that area first with pictures, descriptions, and pricing.
The full story can be read/found on Yiftee Raises $850K For Local Business-Focused Gifting Service