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First Data is acquiring Gyft.com, a company that gives mobile users the ability to track gift card purchases. Gyft.com was a privately-traded company funded in part by A-Grade investments, a venture capital firm founded by kabbalah-enthusiast and actor Ashton Kutcher, Ron Burke and Guy Oseary. Google Ventures and Karlin Ventures were also involved in the deal. Gyft.com’s $5 million capital raise was given a push partly by Kutcher’s private fund.
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First Data is a company that processes payments for businesses. Although details of the deal were not disclosed, First Fund will buy 100% of Gyft.com, which enables customers to redeem, monitor and manage gift and loyalty cards on Apple and Android mobile devices. The company works with over 200 retailers, and plans to expand to include more small and mid-sized retailers. Although First Data will own Gyft.com outright, it will operate its services under its own name.
