RDE, Inc. Announces Rebranding with Name Change to Giftify, Inc.
Rhea-AI Summary
RDE Inc (NASDAQ: GIFT) announces corporate rebranding to Giftify Inc, effective October 28th, following shareholder approval. The company, which owns Restaurant.com and CardCash.com, focuses on incentives and rewards in retail, dining, and entertainment. The rebranding aims to optimize brand portfolio, reduce complexities, and expand beyond Restaurant.com offerings.
CEO Ketan Thakker highlights improved margins and increased gross profit following the CardCash.com acquisition in late 2023. The company plans to reactivate past users, increase visibility, enable cross-platform selling, and pursue strategic acquisitions to expand its user base and revenue.
Positive
- Improved margins and increased gross profit after CardCash.com acquisition
- Recent uplisting to Nasdaq strengthens market position
- Strategic plan for cross-platform selling between Restaurant.com and CardCash.com
Negative
- None.
News Market Reaction
On the day this news was published, GIFT gained 1.83%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Highlights Evolution to Deliver Broader Incentive-Based Solutions
SCHAUMBURG, IL, Oct. 25, 2024 (GLOBE NEWSWIRE) -- RDE, Inc. (NASDAQ: GIFT) (the “Company”), the owner and operator of leading digital platforms, Restaurant.com and CardCash.com, with a focus on incentives and rewards in retail, dining and entertainment experiences, is pleased to announce its corporate rebranding to Giftify, Inc., which was approved by shareholders and officially becomes effective on October 28th.
The new name will optimize the company’s brand portfolio, reduce complexities, further underscore its evolution to deliver solutions beyond its traditional Restaurant.com offering and provides the Company broader options for expansion in the future.
Ketan Thakker, Chief Executive Officer of Giftify, Inc., commented: “Along with our recent uplisting to Nasdaq, this is a major milestone for the Company as the digital incentives and gift card markets accelerate. Giftify goes hand in hand with our business and is easy to remember and relate to. This new brand and evolving positioning perfectly illustrates our growing ambition on the market.”
Thakker, continued: “Since we closed the acquisition of CardCash.com at the end of 2023, our improved margins and associated increase in gross profit demonstrate the increased efficiencies we had identified and have now executed upon. We continue to work on a plan to reactivate past users, increase visibility to potential new users, cross-sell between the two platforms and identify additional complementary strategic acquisitions, all with a common goal to increase our user base and revenue.”
About Giftify, Inc.
Giftify, Inc. is a pioneer in the incentive and rewards industry with a focus on retail, dining and entertainment experiences. Its Restaurant.com is the nation’s largest restaurant-focused digital deals brand and CardCash.com is a leading secondary gift card exchange platform. Restaurant.com and our Corporate Incentives division connect digital consumers, businesses and communities offering thousands of dining, retail and entertainment deal options nationwide at over 184,000 restaurants and retailers. Restaurant.com prides itself on offering the best deal, every meal. Our restaurant certificates and gift cards allow customers to save at thousands of restaurants across the country with just a few clicks. CardCash.com is renowned for its leading secondary gift card exchange platform, allowing consumers and retailers to realize value by buying and selling gift cards at various scales.
For more information, visit: and https://www.restaurant.com and https://www.cardcash.com.
Forward-Looking Statements
Press Releases may include forward-looking statements. In particular, the words “believe,” “may,” “could,” “should,” “expect,” “anticipate,” “estimate,” “project," "propose," "plan," "intend," and similar conditional words and expressions are intended to identify forward-looking statements. Any statements made in this news release about an action, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company. Accordingly, you should not place undue reliance on these forward-looking statements. Although the company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The company takes no obligation to update or correct its own forward-looking statements, except as required by law or those prepared by third parties that are not paid by the company. Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although Giftify, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, Giftify, Inc. is unable to give any assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include the company’s ability identify a suitable business model for the corporation.
Investors Contacts:
ClearThink
nyc@clearthink.capital
FAQ
When will RDE Inc (NASDAQ: GIFT) officially change its name to Giftify Inc?
What platforms does RDE Inc (NASDAQ: GIFT) currently own and operate?
When did RDE Inc (NASDAQ: GIFT) acquire CardCash.com?
