LaunchRock Acquires Giftiki, Collaborative Gifting Service To Shut Down

Startup launch service LaunchRock just announced that it has acquired Giftiki, a startup that allows friends to pool their money to buy more valuable gifts. The financial terms aren’t being disclosed, but LaunchRock co-founder and CEO Jameson Detweiler says Giftiki service will be shut down. Judging from the tongue-in-cheek press release, this sounds like a classic acqui-hire, with LaunchRock acquiring the company for its team, not its product. Read the full story here.