Tango Card Acquires GiftCertificates.com
SEATTLE and OMAHA, Neb., Feb. 12, 2019 /PRNewswire/ -- Tango Card, a leading digital rewards and incentives provider, announced today that it has acquired GiftCertificates.com, one of the incentive industry's earliest providers of physical and digital incentives for enterprise customers. Tango Card has also received follow-on investment from FTV Capital, from which Tango Card raised $35M in growth equity in May, 2018. With this acquisition Tango Card adds experienced incentive team members, adds over one thousand customers, and enhances incentive fulfillment capabilities for its enterprise customer base. The combined team and additional funds favorably position Tango Card to continue leading in the rapidly expanding digital incentives market.
GiftCertificates.com | GC Incentives was founded in 1997 and has provided gift cards as rewards and incentives for over 20 years. They were a pioneer in the gift card industry bringing together hundreds of retail gift cards and making them available to their business customers as rewards and incentives. GiftCertificates.com has an excellent reputation and history of consistently delighting business customers with a strong product offering and incredible service.
Tango Card has garnered a similar reputation, gaining leadership in a $100B B2B prepaid market that is rapidly moving digital. Use of e-gift cards as rewards and incentives is growing while currently in use by 50% of large enterprises and 58% of medium enterprises (IRF, 2019 trends Study). Concurrently, 69% of companies still source gift cards at a local retailer, illuminating a growing, ready, and willing market for Tango Card's Rewards Genius(TM) delivery dashboard and Rewards as a Service (RaaS®) API.
"This acquisition represents an important step in Tango Card's growth," said David Leeds, Tango Card's Founder and CEO, "we have built a successful company through unwavering focus on enterprise customers and by staying true to our core strengths of effective reward delivery technologies, desirable reward catalogs, and expert service. As we got to know the team at GiftCertificates.com, we recognized the same commercial and customer focus. We believe that together and with the backing of FTV we'll be able to continue creating value for our customers while also being able to grow and influence the incentive industry."
"It has been an amazing 20 years," said Rob Gregersen, VP of Finance and Administration at GiftCertificates.com, "we are proud of our employees, customers, and accomplishments. This next chapter with Tango Card is very exciting as we will be able to continue to grow and deliver best in class solutions to our customers."
With this acquisition, Tango Card now has 3 offices including its Seattle Headquarters, Boise, Idaho, and now Omaha, Nebraska. The company now has 130 employees and serves more than 3000 customers.
About Tango Card
Tango Card is the leader in fulfilling digital rewards and incentives. We bundle simple technology, great rewards, and expert service to help companies get the most out of their rewards programs. With headquarters in Seattle and offices in Boise and Omaha, our Reward Delivery Platform supports thousands of enterprise clients in the U.S. and abroad. For more information, visit www.tangocard.com.
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SOURCE Tango Card
