Snappy Acquires Covver in Corporate Gifting Industry Evolution
The corporate gifting sector acknowledges the value in boosting brand appreciation through gifts. Leading this wave, New York’s Snappy has acquired the merchandise gifting platform, Covver. The details of the deal remain undisclosed, revealing only a mixture of cash and shares.
Covver’s Contribution to the Merger
Israel-based Covver, previously supported by TLV Partners, has attracted $7 million in funding to date. Predominantly supplying swag-style merchandise, Covver also presents points-based employee recognition solutions. The system conveniently personalizes products without needed graphic designs, something Snappy will now be able to exploit.
Boosting Brand Appreciation through Gifting
Hani Goldstein, Co-Founder and CEO of Snappy, shared that the synergy between both companies will enhance their corporate gifting capacity. Covver will essentially become Snappy’s “swag channel.” She expressed a vision to make gifting simple while keeping it magical and personalized.
Despite stiff competition from companies like Sendoso and &Open, Snappy, first introduced in 2016, remains a favorite for large companies. Boasting around 47% of Fortune 100 companies as clients, including Amazon and Microsoft, its success is unquestionable.
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