Gift Card Rescue is an innovative platform that allows users to sell unclaimed gift cards at discounted rates. Sellers can list their gift cards on the website, providing their addresses for buyers to collect the cards.
The platform facilitates transactions by taking a 20% commission from each sale, making it a cost-effective solution for buyers looking for discounted gift cards while offering sellers an opportunity to cash in on unused cards.
| Company Name | Gift Card Rescue | |
| Founder | Kwame Kuadey | |
| Founded | 2008 | |
| Product | Unclaimed Gift Card Selling Platform | |
| Asked For | $150k for 30% equity | |
| Final Deal | $200k for 50% equity | |
| Shark |  Kevin O’Leary |  Robert Herjavec |
| Episode (Shark Tank USA) | S1 E4 | |
| Air Date | Aug 30th, 2009 | |
| Business Status | Out of Business | |
| Website | Visit Website | |
| Headquarters | Washington DC-Baltimore Area, USA | |
| Lifetime Worth (Sales) | $7.5M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Another Shark Tank Pitch
Who Is The Founder Of Gift Card Rescue?
Kwame Kuadey is the founder and CEO of Gift Card Rescue. He is also the founder of multiple companies, including Thrive Company and Pioneer Branding.
How Was The Shark Tank Pitch of Gift Card Rescue?
After entering Shark Tank, Kwame Kuadey explained the unclaimed gift card industry, highlighting that $8 billion in gift cards go unclaimed each year. He projected sales of $120,000 worth of gift cards in 2009, with a gross margin of 25%. Kuadey stated that his $500,000 valuation was based on growth potential, an Amazon partnership, and his confidence in the business.
Daymond John opted out, stating this was not the type of business he wanted to invest in. Barbara Corcoran also declined, feeling she was not the right partner. Kevin Harrington expressed that he wasn’t ready to invest in what he deemed a risky business.
Kevin O’Leary initially offered $150,000 for 50% equity, but Kuadey countered with a request for $150,000 for 40% equity. O’Leary refused to change his offer. Eventually, O’Leary and Robert Herjavec teamed up to offer $200,000 for 50% equity, and Kuadey accepted this deal.
| Sharks | Offers |
|---|---|
 Barbara Corcoran | No Offer |
| Kevin O’Leary | $150k for 50% equity (#1) $200k for 50% equity (#1) (With Robert) |
| Robert Herjavec | $200k for 50% equity (#1) (With Kevin) |
 Daymond John | No Offer |
 Kevin Harrington | No Offer |
| Founder’s (Countered) | $150k for 40% equity (#1) (Kevin) |
| Final Deals | $200k for 50% equity |
Gift Card Rescue Shark Tank Update
Gift Card Rescue secured a deal on Shark Tank, with Kevin O’Leary and Robert Herjavec investing $200,000 for 50% equity. By 2012, the company’s sales had reached $6 million, and by 2013, they surpassed $10 million.
In 2015, sales peaked at $15 million. However, the company faced significant challenges and ultimately closed in 2016 due to a bank account freeze.
The Better Business Bureau reported over 200 complaints from 43 states regarding the business.
Following its appearance on Shark Tank, millions of users visited the website to buy and sell gift cards, and both Robert and Kevin contributed to marketing efforts. Unfortunately, the business was shut down in July 2016 amid numerous scam complaints.
What Is Gift Card Rescue’s Net Worth?
Gift Card Rescue’s net worth is estimated at $0 million. The business model focused on unused gift cards has proven unsustainable in today’s market, as many scams arise from the sale of unclaimed gift cards.
Annual Revenue by Years
Note: This report is based on our research and data so far. In this, we are only estimating the annual revenue.
| Years | Annual Revenue |
| 2024 | $ *estimated |
| 2015 | $15 *estimated |
| 2014 | $8 *estimated |
| 2013 | $10 *estimated |
| 2009-12 | $15M *estimated |
Funding Reports to Date!
| Years | Funding Amount | Investor |
| 2009 | $200k | Kevin O’Leary Robert Herjavec |
No, Gift Card Rescue has been out of business since July 2016.
