Sramana Mitra: This has been an interesting conversation. Do you want to give me a range of how large a company you’ve built with CashStar and probing into the unmet needs of the gift card industry? David Stone: We raised $28 million to date, which in the state of Maine is incredible. Most of the
Sramana Mitra: What about loyalty? We’ve talked a lot about the process of gift giving. Would you talk about loyalty? You said you’ve also worked quite a bit on the intersection of loyalty and payments. David Stone: Yes, there are obviously a ton of players in the loyalty space, and a lot of interesting companies
Sramana Mitra: What about returns? In the previous use case, you said you were in a Gap, saw a pink sweater, and decided to give that as a gift to a friend. Let’s say the friend receives that pink sweater and decides she wants a different color. How is that handled in your system? David
SM: Oh, I see. So, the electronic gift card can be used at a store. DS: Exactly. We’re connecting the online and physical world. In fact, most of the cards – and there are millions that we’ve done – can be used in the physical world. It has a bar code on it, and you