COVID-19 is keeping us apart, but Giftpack Inc. is erasing that distance with their innovative global gifting service.
According to the company, their AI-powered enterprise gifting service experienced a surge of growth during the pandemic. “The trend of working remotely actually helps to boost our sales a lot, whether it's on the B2C or B2B end. People need things to be taken care of by professionals remotely,” says Archer Chiang, founder of Giftpack.
The corporate gifting market size is expected to grow despite COVID-19, with the U.S. market alone estimated to be worth more than $125B.
According to the New York-based startup, Giftpack is one of the only two corporate gifting services that was able to provide personalization at scale. With a background in computer science and engineering, Chiang knew what it takes to survive in this competitive realm when he founded the company 4 years ago - finding a balance between personalization and a scalable model.
The internal study shows that the company is succeeding in its aim. More than 86% of their gift recipients indicate that they are happy and satisfied with the gifts and believe their relationship with the giver has improved.
The key to that balance is artificial intelligence. Chiang explains it usually takes someone in the HR department between 4 and 8 hours to pick one personalized gift and that more often than not misses the mark. Giftpack’s algorithm uses social media and information gleaned from a person’s online presence to choose the perfect gift for an employee, client or customer.
So far, Giftpack has signed several big-name companies including Facebook and 17 Media. They are targeting large corporations that have a need to send huge numbers of gifts to maintain relationships with clients, customers and employees on a regular basis.
The 28-year-old CEO is, in fact, a serial entrepreneur. Born in South Africa, raised in Taiwan and currently based in New York, Chiang received a bachelor’s degree in computer science in Taiwan and subsequently graduated from the Academy of Art University in San Francisco. Giftpack is his fourth startup.
It was while he was in San Francisco that he experienced the hardships of a long-distance relationship with his girlfriend who was in Taiwan. He found it difficult to think of a perfect gift for her and that started him thinking of building a service that can make gifting smart, fast and global for couples in long-distance relationships.
Back in 2013, when Chiang first started out, his original idea was to create an e-gifting and coffee delivery service in Beijing. Although the plan didn’t come through, he believed the strong demand he saw for building relationships through meaningful gifting worth another try. “We never give up, and finally, we figured out a market where we can be a game-changer.”
Initially, Giftpack didn’t target the B2B market as it’s more focused on assisting individuals like you and me to send “the perfect gift”. However, as time goes on, Chiang realized that Giftpack could make an even bigger impact on corporate gifting with its AI gifting service. That’s when the company started to gradually shift towards a more B2B approach.
Now, Giftpack has grown into a multi-million dollar company where its service is witnessing exponential growth globally. The company currently has offices in New York, San Francisco, Tokyo, Seoul and Taipei, and more than half of its employees are women. “We are born to be global. And the diverse culture makes every impossible work,” says Chiang.
Giftpack owns a team of experienced industry experts, including former lead data scientist from Yahoo, marketing giants from Facebook and Jo Malone and global operations team with more than 12 years of experience.
SPONSORED BY SMEA, MOEA