Well, here is some good news about giftcertificate.com

dmslush

<font color="navy">If you don't let your dog poop
Joined
Oct 18, 2000
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The bad word site that said rumor had it gc.com was shutting down posted this article, so hopefully they will be around long enough for us all to get some more RFC, Olive Garden, etc..


GiftCertificates.com Raises $21.7-Million Round Five

CARLSTADT, N.J. (VENTUREWIRE) -- GiftCertificates.com, a provider of gift certificates and related services for corporate customers and consumers, said it has secured a $21.7-million fifth round of funding, including a $7.5-million line of credit from Imperial Bank. Mellon Ventures, Barron Private Equity, Gotham Partners, SCP Private Equity, and the venture arm of insurance firm WR Berkley provided equity. Previous investor Mellon Ventures led the round. WR Berkley's venture unit was the only new investor in the round, which remains open. A representative from WR Berkley will take the seventh seat on the company's board of directors. CEO Michael Ahern said there is one open seat remaining that will go to an independent. The company said it will use the new capital to support general operating expenses, including inventory financing, additional technology investments, marketing, and to grow its sales force. In January GiftCertificates.com announced it had laid off 70 employees, a little more than 20% of its total staff, as part of a restructuring initiative. At that time the company also closed its New York headquarters, relocating that staff to an existing office in Carlstadt, N.J. GiftCertificates.com also has offices in Omaha, Neb. and Seattle. Late last year, the company pulled its IPO citing poor market conditions. While the company started out as a business to consumer site, Mr. Ahern said more than half the company's business now comes from corporate sales. "One of the most fundamental changes [the company made] was to use successful corporate marketing to bring back consumers to our site, rather than spend millions on advertising to consumers." Mr. Ahern said GiftCertificates.com, which has raised approximately $110 million to date, will not seek another round and expects enough revenue to sustain operations by the end of the year. The company is also backed by Glencarron Investment, Greenlight Capital, Hilal Capital Associates, the Pilgrim Baxter Hybrid Partners, and Triumph Partners.
 
That is good news. Too bad I bailed and requested a whole bunch of second rate GC's when I couldn't get what I really wanted. Oh well, I guess they won't go to waste.

Now we can all hope for better things, right.
 
Li Debbie,
When the rumor first came out, I did the same thing LOL. The only thing they had that I could use was Pizza Hut, and now I am stocked up on Pizza Hut LOL.
 
That is good news, thanks for telling us! I was very tempted to cash in when we heard the rumors a few months ago, but DH said we should wait, I'm glad I listened this time. (LOL):bounce:
 

I appreciate you passing that along as I was wondering what is happening with them. I have emailed Milesource so many times and keep getting the canned response that they are "working on new cash in opportunities at this time". Hopefully they will start offering WCs!


BTW--gc.com currently has RFC, Olive Garden & RLobster GCs in stock!

HTH!
 














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