Wednesday, July 30, 2014

Gyft Acquired By First Data

San Francisco-based Gyft, which operates a mobile gift card service, has been acquired by credit card processor First Data, the two said this morning. Financial terms of the buy were not disclosed. Gyft was venture backed by A-Grade Investments, Social+Capital Partnership, Karlin Ventures, Haas Portman and entrepreneur David O. Sacks. The company had raised around $5M back in September of 2013. Gyft was led by Vinny Lingham.