Loading organizations...
Key people at CardCash.com.
Founded in 2008 by Elliot Bohm and Marc Ackerman, CardCash operates a secondary e-commerce market based in Brick, New Jersey, buying unwanted gift cards and reselling them at a discount. The company generates an approximate eight percent profit margin by purchasing cards below face value, a model that attracted a $6 million Series A investment from Guggenheim Partners in 2013. This funding helped the platform scale significantly, allowing the business to process over $100 million in gift card purchases and gross an estimated $120 million by late 2014. Expanding beyond its core consumer exchange, the company launched FraudFix in 2019 to provide an artificial intelligence solution designed for fraud protection. In 2023, the business and its 51 to 100 employees were acquired by RDE Inc., the parent company of Restaurant.com that now trades on the Nasdaq.
Key people at CardCash.com.
# CardCash.com: High-Level Overview
CardCash is an online gift card marketplace that enables users to buy and sell discounted gift cards, addressing the widespread problem of unused gift cards in the consumer market.[1] The platform solves a dual-sided problem: it helps consumers who receive unwanted gift cards convert them into cash, while simultaneously allowing bargain-conscious shoppers to purchase gift cards at discounts of up to 35%.[4] The company operates a proprietary model where it directly purchases gift cards from sellers before reselling them to buyers, providing security and trust in a market historically dominated by less-regulated platforms like eBay and Craigslist.[4]
CardCash has grown from processing $100,000 in gift card transactions at inception to handling over $100 million annually by 2014.[4] The company was acquired by RDE (now Giftify) in August 2023, marking a significant milestone in its evolution from independent operator to part of a larger gift card and restaurant rewards ecosystem.[3]
# Origin Story
CardCash was founded in 2009 by childhood friends Elliot Bohm and Marc Ackerman, who created the company immediately after the 2008 financial crisis.[2][4] The inspiration came directly from personal experience: Ackerman received gift cards he had no use for, and Bohm—a self-described bargain hunter—offered to purchase them at 80 cents on the dollar.[2] This simple transaction became the blueprint for an entire business model.
Before founding CardCash, Bohm had experience reselling discounted electronic devices, while Ackerman worked in real estate in Brooklyn.[1] These backgrounds in market dynamics and pricing algorithms proved invaluable as they built the company. The timing was deliberate: launching during the post-financial crisis period, they positioned CardCash as a solution for cost-conscious consumers seeking to maximize value on discretionary purchases.[2] A 2008 Consumer Reports survey had found that approximately 25% of gift card recipients never use their cards within a year, validating the market opportunity.[1]
# Core Differentiators
# Role in the Broader Tech Landscape
CardCash emerged at the intersection of two powerful trends: the explosive growth of gift card commerce and the post-2008 consumer shift toward value-seeking behavior. The U.S. gift card market was valued at over $90 billion when CardCash launched, with projections to reach $140 billion by 2016, while the unused gift card segment grew sharply.[4] The company essentially created a secondary market for a previously "stuck" asset class, unlocking billions in dormant consumer value.
The platform also pioneered a trust-based infrastructure for gift card transactions at a time when digital commerce security was still evolving. By positioning itself as a direct buyer rather than a marketplace facilitator, CardCash established a model that competitors like Raise (founded 2013) and Fluz (founded 2015) would later adopt or adapt.[3] This shift toward regulated, secure gift card exchanges elevated the entire category from informal peer-to-peer trading to legitimate financial infrastructure.
# Quick Take & Future Outlook
CardCash's acquisition by RDE (Giftify) in 2023 signals a consolidation trend in the gift card and restaurant rewards space, where standalone platforms are increasingly absorbed into broader consumer finance ecosystems. The company's core insight—that unused gift cards represent trapped consumer value—remains as relevant today as in 2009, particularly as digital wallets and alternative payment methods continue to fragment consumer spending patterns.
Looking forward, CardCash's integration into the Giftify platform positions it to leverage synergies with Restaurant.com and other gift-related services, potentially expanding beyond traditional retail gift cards into dining, entertainment, and travel experiences. The company's 15-year track record of scaling a two-sided marketplace with minimal capital suggests the underlying business model remains durable, even as consumer preferences and payment technologies evolve.
