Chip stocks fall with Nvidia after data center rev disappointment
Giftify, Inc. (NASDAQ:GIFT), a $33 million market cap company whose stock has declined nearly 65% over the past year, reported that Balazs Wellisch resigned as chief operating officer of its subsidiary, Restaurant.com, on August 18. The announcement was made in a press release statement included in a filing with the Securities and Exchange Commission.
No additional details regarding the circumstances of Wellisch’s resignation or plans for his replacement were disclosed in the filing. Giftify is incorporated in Delaware and its common stock is listed on the Nasdaq Capital Market.
The company’s president and chief executive officer, Ketan Thakker, signed the filing. The information is based solely on the SEC filing submitted by Giftify.
In other recent news, Giftify, Inc. has launched uChoose, a corporate rewards platform that allows recipients to redeem rewards across more than 200 brands in retail, dining, travel, and entertainment. The platform is designed to provide cost advantages to corporate clients by leveraging CardCash’s secondary gift card marketplace expertise. Additionally, it includes a "breakage sharing" feature that returns unused gift card value to businesses, along with complimentary Restaurant.com benefits. In another development, Giftify has announced the acquisition of TakeOut7, a restaurant technology company. This all-stock deal involves 350,000 shares of Giftify common stock and aims to enhance Giftify’s digital commerce ecosystem. TakeOut7’s platform supports independent restaurant operators with services like online ordering and AI-powered marketing solutions. The acquisition is expected to integrate TakeOut7’s technology into Giftify’s offerings, providing additional tools such as kitchen integration and delivery coordination. These recent developments highlight Giftify’s efforts to expand its services and enhance its technological capabilities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.