Announcements

CashStar Announces Record Revenues for 2013 and 92 Percent Growth in Merchant Sales

Platform Enhancements, New Client Programs and Accelerating Consumer Adoption Drive More than $500 Million of Merchant Sales in 2013

CashStar, the digital gifting company preferred by the world’s leading brands, today announced record revenues for 2013. CashStar generated more than $500 million in gross merchant sales, growing by 92 percent year-over-year from 2012 to 2013. The company also had its most successful holiday shopping season ever with record-setting merchant sales on Black Friday, Cyber Monday, and Christmas Eve.

“CashStar’s incredible growth is not only a result of new retailers, restaurants and partners adopting our platform, but also of our innovative platform successfully growing client programs, powering consumer marketing campaigns and driving consumer adoption,” said Ben Kaplan, CashStar’s president and CEO. “Our strong financial results in 2013 reflect our clear leadership in a large, rapidly growing market. CashStar is off to a great start in 2014 and poised for another record-setting year.”

Unparalleled Customer and Partner Expansion
In addition to significant program expansion amongst its existing client base, CashStar added a record number of new merchant brands and new distribution partners in 2013:

  • More than 70 new leading retail and restaurant brands including Brookstone, Golfsmith, Office Depot, Dunkin’ Donuts, Landry’s, Caribou Coffee and Vans, among others
  • Continued international expansion with new clients including Dorchester Collection, Super Retail Group, Golf Town Canada, Tragus, and more
  • More than 25 new distribution partners, including Facebook and IDT (NYSE: IDT)
  • As part of CashStar’s partnership with Facebook, CashStar provides enhanced social gifting for Facebook Gifts and is live with more than 55 CashStar client brands

Platform and Solution Innovation
CashStar delivered innovative new solutions and enhancements throughout 2013, culminating in the recent release of CashStar 5, an integrated SaaS-based platform for omni-channel digital and plastic gift card distribution. Highlights include:

  • Two patents from the USPTO recognizing the company’s early innovations for creating, personalizing and distributing virtual gift cards with additional patents pending
  • Enhancements to CashStar Consumer including flexible order flow, PayPal support and unified digital and plastic gift card e-commerce
  • A new mobile SDK for native iOS and Android app development, integrating digital gifting with mobile wallets, payments, and loyalty programs
  • The release of Tactile Unwrapping™, a module for CashStar Consumer, which enables a rich, personalized unwrapping experience for digital gift card recipients
  • A robust new version of CashStar Business, an integrated digital and plastic gift card distribution solution for direct and channel B2B sales
  • The launch of a new CashStar Marketing solution, which provides merchants with a flexible and scalable marketing promotion platform

New Leadership and Continued Hiring
To support the company’s rapid growth and invest in customer success, CashStar brought on new leadership, expanded its management team and continued to hire across the company:

  • Ben Kaplan joined the company in 2013 as president and CEO. Kaplan was most recently chief operating officer at Cartera Commerce
  • Beth Ford was named vice president of product at CashStar. Ford joined CashStar from Demandware, where she was senior director of product management
  • CashStar added more than 25 new employees in 2013 and now employs 100 people
  • CashStar added a second office in Portland to accommodate the company’s growth

Industry Recognition for Growth, Innovation and Client Success
In 2013 CashStar received multiple awards and recognition for its growth, market leadership, product innovation and client success:

About CashStar
CashStar is the leading provider of omni-channel digital gifting solutions for the world’s top brands. The CashStar platform enables retailers and restaurants to maximize sales, eliminate fraud risk, increase customer engagement, and drive adoption of mobile payments. More than 300 leading companies rely on CashStar to power the most innovative and advanced prepaid and digital gifting programs, including Best Buy, Brookstone, Coach, Crate & Barrel, Dell, Dunkin’ Donuts, Gap, lululemon athletica, Office Depot, Petco, Pottery Barn, QVC, Sephora, Staples, Starbucks, The Cheesecake Factory, The Home Depot, and Williams-Sonoma. To learn more, please visit www.cashstar.com, follow @CashStar_Inc, or e-mail .

Contact:
Keri Bertolino
fama PR
617-986-5007