Snappy Snags Covver: The Newest Player in the Swag-Gifting Game!

Corporate gifting has become a game-changer in boosting brand appreciation among customers and employees without breaking the bank. The demand for corporate gifts is on the rise, with market players like Snappy making significant moves in the industry. Recently, Snappy, a New York-based company that has raised an impressive $125 million, acquired Covvera, a corporate merchandise gifting platform, in a deal that involved a mix of cash and shares.

Here are some key points to consider about this acquisition and the corporate gifting market:

• Covvera, previously backed by TLV Partners in Israel and having raised $7 million, specializes in swag-style merchandise for companies, offering personalized products with a unique touch.
• The deal between Snappy and Covvera is expected to elevate the gifting experience, with Covver becoming the “swag channel” on Snappy’s platform.
• Hani Goldstein, Co-Founder and CEO of Snappy, highlighted Covver’s innovative approach to swag, blending AI and personalization seamlessly.
• The corporate gifting market is massive, estimated at $260 billion, but often lacks the personal touch that makes gifts truly memorable.

In a statement, Roee Hemed, CEO of Covver, expressed excitement about the partnership with Snappy, emphasizing the enhanced product solutions and expanded opportunities for customers.

Snappy, known for its consumer app that transitioned into a leading gifting platform, boasts an impressive clientele, including Fortune 100 companies like Microsoft, Amazon, and Comcast. While Snappy has made a mark in the industry, it faces competition from other players like Shipping, Postal, and &Open, each raising substantial amounts to revolutionize the corporate gifting landscape.

As the corporate gifting industry continues to evolve, Snappy’s acquisition of Covvera signals a strategic move to redefine gifting experiences and elevate brand appreciation through personalized and magical gifts. Let’s keep an eye on how this partnership transforms the gifting landscape and sets new standards for corporate generosity.