Renato Libric, the genius behind the much famous digital gifting startup Bouxtie, is currently on a 40-day India tour for a mission to narrow down some strategic investors for its star startup and make it reach even greater heights.
Touring some 12 cities across 3 continents in the 40 day period, the San Francisco based startup’s founder is looking forward to exploring the thriving markets in the cities and pick up some investors for his startup in the process. Interestingly, two Indian cities, Chennai and Bangalore, have also found a place in Libric’s itinerary as he is quite confident that Indian investors will like Bouxtie’s concept and see the potential that the digital world holds.
Founded in the year 2013, Bouxtie allows instant delivery of personalised gift cards from a mobile device. According to Libric, through Bouxtie his aim is to send and share love one person, one gift card at a time. According to rumours doing round in the industry, Bouxtie could be launching its services to the Indian market by the end of this year.
Libric believes that the startup has a golden chance of disrupting a huge $400 billion global market. According to statistics available, the plastic gift card industry is worth a whopping $175 billion as of last year in the US only. The startup has already been successful in fuelling the interest of some of the plastic card companies which are ready to offer them anything in the range of between $75-$120 million. It is also in the midst of talks with Mastercard and VISA.
Consumers can make use of the Bouxtie app for sending thoughtful and meaningful videos and personalised gift cards instantly to their loved ones with the touch of a button. These can then also be shared on various social media platforms. The receiver also has an option of forwarding the gift voucher further to about person. Not only the consumers, the app has been a real boon for the retailers as well as once the fees paid to the middlemen is eliminated, they get real time payment and can easily monetise social media. The retailers are also provided with a platform to market and advertise themselves.
With over 120 international retailers on board, Bouxtie is currently on its way to become the number one global digital gift card solution by spreading to new markets like India, UK, Australia, Hong Kong, Turkey and Singapore by the end of the year.