Rackup.com Launches New Gift Card Auctions Website at TechCrunch50, Offers Bonuses up to 100%
SAN FRANCISCO, Sept. 14 /PRNewswire/ -- Today at the TechCrunch50 conference, Rackup (http://www.rackup.com) unveiled a powerful new 60 second auction model that rewards consumers with cash bonuses for purchasing gift cards from major retailers.
Created by CEO and card industry veteran Marc Rochman, Rackup was selected from among thousands of TechCrunch50 applicants because of their compelling value proposition: If you load a gift card in a Rackup auction, you win a cash bonus added to the card that can range from 3% to 100%.
"We figured out a way to give consumers a chance to win up to a 100% bonus on gift cards from their favorite retail stores," says Rochman. "After all, you're already spending money with these retailers, so why not compete in a risk free auction, where you always get more than you pay for. When Rackup launches, people will buy gift cards not only as a convenient way of gifting, but also for self consumption, to increase their buying power."
Rackup's value proposition to consumers is made possible by retailers who view the technology as a new online marketing tool designed to engage customers, without resorting to conventional sales, which can damage brand value.
Major brands, such as American Airlines, Applebee's, Legal Seafood, AMC theaters, Red Door Spas, Spiegle, and others, have already signed pilot agreements to use the technology to drive sales.
Currently Rackup.com is open to the public in 'demo beta' mode, before opening the site in November, in time for the holiday season.
To find out more about Rackup.com's new style of gift card auctions, and to experience the new real-time auction platform, visit http://www.rackup.com.
About Rackup.com, LLC
Rackup.com features a new style of fast and thrilling auctions in which consumers compete for gift cards and for an extra free cash bonus of up to 100%, with absolutely no risk.
Originally based in Hollywood, Florida, Rackup moved its headquarters to the Silicon Valley in August of 2009.
About TechCrunch50
TechCrunch50 (http://www.TechCrunch50.com) is a conference held at the Design Center Concourse in San Francisco, California, hosted by TechCrunch and Jason Calacanis. Its aim is to find the best Web 2.0 start-ups and launch them in front of the industry's most influential venture capitalists, companies and press.
