– USA, IL – Raise, the largest online marketplace for gift cards, today announced that Don Kingsborough, a respected titan in the retail industry who pioneered the gift card industry, has joined the company’s board of directors.
A lifelong entrepreneur, Kingsborough first gained national attention in the late 1970s when he served as president of consumer products at Atari and played an instrumental role in introducing the Nintendo Entertainment System in the United States. He went on to found World of Wonder, where he launched Teddy Ruxpin, the best-selling toy in 1985 and 1986, and where he also was one of the creators of laser tag.
In 2001, Kingsborough founded Blackhawk Network, a pre-paid card company that ultimately revolutionized the way people shop by forging new ground in the gift card market. Most recently, Kingsborough worked at PayPal, where he spearheaded the company’s move into physical retail locations.
“Don has had a career full of incredible successes, and the role he played in cementing gift cards as a shopping staple has really set the stage for what we do at Raise,” said George Bousis, founder and CEO of Raise. “He’s seen everything on all sides of the spectrum and will be a valued advisor to the company as we rely on his unparalleled experience and know-how to help manage growth, expectations, hiring, infrastructure and more.”
Raise is currently experiencing rapid growth, having recently closed a $56 million Series B funding round, which brought the total funds raised by the company to $81 million. In the past year, the company expanded its platform to accommodate more active buyers and sellers across all 50 states, released a successful iOS app, sold more than 1 million gift cards, grew from 25 to 135 employees, and saw significant growth every month including 50 percent revenue growth in November and December 2014.
“Raise has already made impressive inroads in innovating the gift card industry, and is poised to continue to be a disruptive force as it further explores the digital gift card and digital wallet spaces,” said Kingsborough. “I obviously have some deep roots in the world of gift cards, and I look forward to joining the Raise board in this advisory position so I can share my experiences and ideas with this incredible company.”
About Raise
Raise.com is the largest, most trusted gift card marketplace, where members can save on gift cards to any brand and sell gift cards or store credit for cash. For every seller cashing in on old cards or credit, a happy buyer saves on a favorite store, brand or restaurant. At any given time, there are about 900+ stores featured and, to date, more than 3,000 retailers have been listed on the marketplace. With the Raise iOS app, members can take the marketplace on the go and instantly redeem cards or credit right at the store counter. Every transaction is verified and insured with a 100 percent money-back guarantee. Whether you’re buying or selling, we’re here to make your money worth more.
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