Crowdfunding: Gift giving and getting just got smarter.
What’s the worst present you’ve been given? A slinky for your ground-floor flat? Sexy socks from your grandma?
Well this year, you can put those shockers firmly in the past: give and get something you’ll actually want with Wishround.
Made with millennials in mind, the Wishround website lets you crowdfund the perfect present.
“It’s the easiest way to pool money with friends for a gift,” Wishround co-founder and CEO Vitaliy Kedyk told The Memo.
Like other crowdfunding sites, you simply create a project – for yourself, or a friend – and then can share this with other people to meet to gift price-tag.
“Millennials like to feel connected – they use social media for everything including choosing gifts,” said Kedyk.
“Buying presents and experiences together is a great way to connect.”
Kedyk first launched the platform last year in the Ukraine to solve the pain of office present buying.
“When our company reached 600 employees, every single day we were approached by colleagues collecting money for a small gift for someone.”
The entrepreneur couldn’t ignore the enormous waste he saw in unwanted gifts, especially given that he worked alongside retailers who saw huge numbers of returns.
“I hated bad experience associated with rubbish gifts,” explained Kedyk, so he decide to do something about it.
It’s easy to see how Wishround helps you get great presents: you avoid the real stinkers, and you can easily ask for that one big present over lots cheaper tat.
“It’s great for personal causes like birthdays, baby-showers, and housewarmings,” says Kedyk. “And over Christmas we see families crowdfunding gifts for kids, where parents, grandparents, and aunts and uncles, can club together for something like a game console.”
Wishround also makes it easier for families who might live in different cities or even countries, and once you’ve given your gift you don’t have to nervously cling onto the returns receipt.
Even businesses benefit: “We add incremental revenue, drive high quality traffic and cut the number of returns,” Kedyk explains.
Already Wishround has over 7,000 users, and run more than 2,000 campaigns. Today, the team are working closely with ASOS to focus on growing within the UK.
By the end of 2017 Kedyk hopes to have partnered with around 40 further retailers, and cover new and different gifting cases.
“E-commerce is great, but gifting is obviously broken right now. We aim to fix it.”
Will your Christmas list be on Wishround this year?
Kitty Knowles is a Senior Features Writer at The Memo. Kitty previously worked as an online journalist for GQ. She can be found tweeting @KittyGKnowles.